MB Market Update 8/31/14

By Dave Fratello | September 2nd, 2014

They keep trying to tell us it's Fall with things like "end of Summer" gatherings and "back to school" activities and soccer practices and Halloween stuff in the stores.

Since we don't really have "seasons" at the beach, it's just so much noise. It's an Endless Summer here, or quite nearly.

But now, after Labor Day, there is a season that matters in local real estate. For the next 2 months or so, we should have a good little selling season, last of the year. Manhattan Beach real estate seems to follow a pattern like this each year:

  • February-May: Spring Market/Rally
  • June-August: Summer Doldrums (everyone's away!)
  • September-October: Last Hurrah
  • November-January: Holiday Dead Zone

People who have been holding off on listing a property for the deadly quiet Summer months are poised to move now.

Buyers who spent the Summer with family, or abroad, or trying out a new Four Seasons are now back, focused, ready for the kill.

Though inventory dropped at the end of August (who wants to list in August?), we're hoping to see more choices and more action in the weeks ahead.

We'll set the table with one of our twice-monthly updates on market activity, with updated spreadsheets on inventory and sales.

Here's the quick overview on active inventory (click here for the list as of 8/31):

  • 63 active listings as of 8/31/14 (-8 from 8/15/14)
  • 45 SFRs
  • 18 THs

See the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 7 actives (-4 from 8/15)
  • Sand Section: 28 actives (+1)
  • Hill Section: 5 actives (-1)
  • East MB: 23 actives (-4)

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

Sales are organized by sub-region of Manhattan Beach.

Here's a link to the spreadsheet: "MB Pending/Sold as of 8/31/14."

In our report on closed sales, we provide the past 6 months' worth of sales by region. This is the typical window of time used by appraisers. The spreadsheets are useful to anyone tracking the market or trying to estimate the value of a home for purchase or sale.

Please see our blog disclaimer.

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