MB Market Update: 11/30/13

By Dave Fratello | December 2nd, 2013

Welcome back, and here's hoping you had a good Thanksgiving.

We're going to start the week here with a quick look at the state of the Manhattan Beach real estate market – or what's left of it.

Our chronic inventory shortage this year has now hit a new low, with just 32 active listings as of November 30.

This chart shows that the number of available choices has now dipped below the prior low from mid-April. But of course, in April there was a bit of a frenzy going on, with a Spring rush of inventory met by an eager fleet of buyers.

One way to compare the state of things now to then: At the time of our mid-April market update, there were 84 pending escrows, reflecting all of that Springtime activity. Right now (as of 11/30/13), there are 40 active escrows – less than half the mid-April total. There has simply been less to buy recently.

And there's something we can't capture in just twice-monthly inventory updates: Properties that listed and made their deals within the 2-week window of the update. There were 3 single-level cottages that all fit that category: 1316 Curtis ($1.270M), 2913 Pacific ($1.495M) and 1813 10th ($1.299M). These boosted the "active escrows" total without ever hitting the "active inventory" on our charts.

Here's the quick overview on active inventory:

  • 32 active listings as of 11/30/13
  • 25 SFRs (-2 from 11/15)
  • 7 THs (-3 from 11/15)

Active listings by region of Manhattan Beach:

  • Tree Section: 9 actives (flat to 11/15)
  • Sand Section13 actives (flat) 
  • Hill Section: 2 actives (+1)
  • East MB: 7 actives (-6)

You can see the complete report on active listings, with live links to every property, in this single spreadsheet on our data blog: "MB Inventory as of 11/30/13."

We're also providing a report on pending and closed sales by region of MB.

Sales are organized by sub-region of Manhattan Beach.

Here's a link to the spreadsheet on our data blog: "MB Pending/Sold as of 11/30/13."

For closed sales, we provide the past 6 months' worth of sales by region. This is the typical window of time used by appraisers.

Remember, these links are always live under the top "navbar" of the home page, right under "MB Market Updates."

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