It may come as a surprise now, but Manhattan Beach has just crested at its highest-ever median home price.
As of March 31, the Manhattan Beach median price was at $2.410M, the highest point ever since the median first hit $2.400M in October 2018.
This is actually a bit of a bounceback after the median ended…
It may come as a surprise now, but Manhattan Beach has just crested at its highest-ever median home price.
As of March 31, the Manhattan Beach median price was at $2.410M, the highest point ever since the median first hit $2.400M in October 2018.
This is actually a bit of a bounceback after the median ended 2019 lower, the first time that the year-end median had dropped in 9 years. (See "Median Price Down 2% in 2019.")
Way-back-when in December, the median was at $2.351M.
Keep in mind, on our chart here, every median price point on the chart is calculated based on a rolling 12 months' worth of sales. And as you can see on this chart, the number simply has never been higher.
We'll call this a bright spot, even while no one has a clue what's next for the real estate market. We're going to need some sales to have a median price to talk about, right?
Worth noting: The "median home" in this case is 1632 Mathews (4br/4ba, 3000 sqft.), an East MB custom Spanish-inspired remodel with a pool.
It sold in June 2019 for that median price: $2.410M, a simple $11K markup over asking in a quick sale.
Just looking at the 59 sales within Q1 2020, you would spot the median at $2.300M, with yet another East MB Spanish-inspired remodel at 2112 Magnolia (4br/3ba, 2550 sqft.) playing the role of "typical" middle-of-the-road sale.
During the quarter, 56% of homes sold under the level of the 12-month median, with 10 homes sold from $2.400-$3.500M, 10 more between $3.500-$5.000M, and 6 sales over $5.000M.
We'll have a bigger tranche of data coming up later this month, updated through the end of Q1. Watch for that.
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 January 24th, 2025 at 4:55am PST. 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.