Don't pull the panic button yet, but the median price for Manhattan Beach homes has failed to rise over the past 12 months.
In fact, it's dropped $20K.
We're now hovering at $2,350,000, $20K below the June 2018 median price.
This figure is also down $50K from the December 2018 median of $2.400M. (See our…
Don't pull the panic button yet, but the median price for Manhattan Beach homes has failed to rise over the past 12 months.
In fact, it's dropped $20K.
We're now hovering at $2,350,000, $20K below the June 2018 median price.
This figure is also down $50K from the December 2018 median of $2.400M. (See our January post, "Manhattan Beach Median Price Up 2% in 2018.")
This means the median is down 1% year-over-year, and down 2% from January 1 this year.
For our chart here, we calculate based on a full year's worth of sales, in this case July 1-June 30 for each year on the chart.
Just last year at this time, we wrote about the unexpected, unprecedented year-over-year jump of $170K in the median price.
There had not been any decline from year to year in our June 30 data going back 7 years to 2013.
In a separate review of median price data, we do see that from June 2010 to June 2011, there was a $100K drop in the median price, from $1.460M to $1.360M.
So this year's drop in the median price, modest as it is, is the first such dip in 8 years.
Just for context, we thought to take a look at median home prices for all of LA County.
Reports this year have been mixed, both for LA County and for SoCal as a whole. Down a little, up a little, varying month by month.
But when we look at the same time frames as we charted above for MB, we see a continuing upward trend for LA County.
That $620,000 median for June 2019 is up 3.3% year-over-year.
Hang tight, MB.
We've been very fortunate for several years running. If the median stops rising after 8 years, or even gives up some of the meteoric gains of the past few years, we're still going to be in good shape.
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 March 24th, 2023 at 7:04pm PDT. 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.
