Tea Leaves - Manhattan Beach Market Update for 2/15/21

By Dave Fratello | February 18th, 2021

Wouldn't you like to know the future?

One ancient practice is reading tea leaves.

So here are some metaphorical tea leaves in the form of a chart.

How's the real estate market doing in Manhattan Beach?

What kind of year is 2021 going to be?

Look to the number of new purchase contracts written early in the year, Jan. 15-Feb. 15.

So far, with 27 new escrows opened in this period, we're looking to be:

 > on par with 2018-19,

 > better than 2017 and 2020, but

 > lagging hotter years earlier in this cycle (2013-16).

A couple more notes. The 2020 figure is from a time before COVID-19 was well known or having any appreciable impact on the economy or real estate. So this is one of the last times we might compare in-the-moment data from last year to this year and imagine a fair comparison, "all things being equal."

Inventory this year, 87 listings as of mid-February, was a bit higher than 2020, a bit lower than 2019, also in the range of "normal." (At the time of this writing, inventory was down already due to some quick sales.)

Both of these data points are among very rare reports since last Summer showing local real estate data more or less "normal."

Yes, we know the world still isn't really opened up yet, the broader economy has both challenges ahead (and some upside), so "normal" is a word one uses carefully today.

Still, 2021 is neither blistering nor lagging. Good enough for now.

Let's see how the Spring market shapes up.

Here's the rest of our local real estate market update report for the period ending 2/15/21:

> 87 active listings as of 2/15/21 (+12 from 1/31/21) 

> 59 SFRs (+8)

> 28 THs (+4)

See the Inventory list as of 2/15/21 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: 17 actives (+3)

> Sand Section: 46 actives (+7)

> Hill Section: 4 actives (flat)

> East MB: 20 (+2)

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 2/15/21".

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