The year that was, 2022... is a year that many who work in real estate would love to see stay where it was, in the past.
If you were a buyer, seller or broker who closed a sale in Manhattan Beach in December, you were part of a lonely (but lucky) crowd.
The 18 sales recorded in the city during December were…
The year that was, 2022... is a year that many who work in real estate would love to see stay where it was, in the past.
If you were a buyer, seller or broker who closed a sale in Manhattan Beach in December, you were part of a lonely (but lucky) crowd.
The 18 sales recorded in the city during December were the fewest in a December since 2008's 16 sales.
This pace for closed sales was about half that seen in each of the prior 3 years.
The median price for closings in December: $2.175M, or about a million dollars below the citywide median price for the year. (This ultra-low number is more an artifact of the very small sample, but still, there were only 6 sales over $3M.)
The slow pace continued in new escrows, the month ending with only 8 new deals inked in December on Manhattan Beach homes for sale.
A sizable number of listings quit the market during the month. A total of 30 offerings went dark, through a combination of expired listings, canceled listings and others that went "on hold," disappearing from the MLS temporarily.
While we entered December with 61 active listings, there were only 36 on market at year's end.
Now, the calendar has flipped. Maybe you're getting rained upon (or snowed upon, lucky!), but we do think brighter days are ahead. Just gotta be patient.
Throughout this coming month, we'll have a series of recaps of 2022 activity, including high and low sales, price trends, and so on.
We promise it won't all be gloomy. Well, the blog won't be. We can't promise much about the weather.
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Here's the rest of our local real estate market update report for the period ending 12/31/22:
> 36 active listings as of 12/31/22 (-13 from 12/15/22)
> 27 SFRs (-11)
> 9 THs (-2)
See the Inventory list as of 12/31/22 here, or see the MB Dashboard for up-to-the-minute data.
Active listings by region of Manhattan Beach in this report:
> Tree Section: 5 actives (-4)
> Sand Section: 18 actives (-6)
> Hill Section: 6 actives (-3)
> East MB: 7 (flat)
We're also providing a report on closed sales by region of MB
Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach.
Here's a link to the spreadsheet: "MB Pending/Sold as of 12/31/22".
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 28th, 2024 at 10:25am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.