Median Price for MB Dips Mildly

By Dave Fratello | July 10th, 2019

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.

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