Inventory Half Recent Years, Sales Higher - Manhattan Beach Market Update for 8/15/21

By Dave Fratello | August 18th, 2021

Seems like nothing hangs around on market for long these days.

That's certainly true when you look at the amount of real estate inventory available all Summer.

In mid-August, inventory of homes for sale was less than half the level seen one year prior.

With just 62 listings locally as of Aug. 15, we had just 46% the inventory of the same time in 2020. And last year was blazing by this time of year, making up for "lost time."

Indeed, it's been a year-long trend, more or less, and certainly the ongoing story of the Summer this year - inventory far, far lower than the prior 5 years.

But there's another story we keep telling here in 2021: Despite low inventory, home sales are cracking.

If we just look at June through mid-August, you see 2021 has substantially more sales.

This Summer, with 135 sales, beats the boom year of 2017 and the surprisingly strong year of 2018.

We already knew 2019 was the doldrums, and that shows in data showing only 74 sales then. 2020 was bouncing back with 96 sales in this period.

Here's the rest of our local real estate market update report for the period ending 8/15/21:

> 62 active listings as of 8/15/21 (-3 from 8/1/21) 

> 41 SFRs (-3)

> 21 THs ( NO Changes)

See the Inventory list as of 8/15/21 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: 15 actives (flat)

> Sand Section: 32 actives (-2)

> Hill Section: actives (-1)

> East MB: 11 (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 8/15/21".

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