median prices

Found 46 blog entries about median prices.

For the first three quarters of 2016, the median price for homes in Manhattan Beach rose to a new record high.

Raise your hand if you saw that coming.

Here's the new high for real estate in MB: $2,087,500.

That's the median price for the first three quarters of this year, compared with the first three of each of the prior 7 years.

Just the other day, we heard someone who's not in third grade say the "median" was the "average" price.


So here's a friendly reminder: The median price is the number at which half the homes sold for more, while half the homes sold for less. Specifically, out of 292 sales from Jan. 1-Sept. 30, 2016, there were 146 on either side. (You data nerds will understand that we had to average the prices on sales

It sure feels like a shortage of real estate inventory in Manhattan Beach has been chronic.

But data show that the situation loosened up a bit in the second half of 2015.

To start with, well, now: Comparing only the last 3 years to each other, 2015 saw a much higher balance of year-end inventory (53) than was seen in prior years.

There were more than twice as many post-holiday leftovers at the end of 2015 as were seen at the close of 2013 (25).

As you can see in our chart here, the bump in inventory had begun to grow in July and hit a new (recent) peak in August, when total inventory hit 82 listings, 11 higher than the year before and 12 higher than the peak for 2013.

Consistently from August till December, there were always about 10-20…

It's hard to say when Manhattan Beach real estate inventory began to feel permanently cramped. But it seems like supply has been too low for demand since roughly late 2012.

It's no coincidence that prices have shot up during the same 3-year span, though there are many factors beyond the simple supply/demand imbalance.

Now we see in the data that 2015 is going to close out with the fewest residential real estate sales since 2009-2010. 

But if that were bad news, it's not paired with any slippage in the median price for Manhattan Beach properties. Prices are still up.

What does it all mean for the state of the market heading into next year?

First, let's look at sales totals.

As you see from our chart below, we just took a snapshot of sales…

We recently looked at the changing market for Manhattan Beach townhomes through the lens of just one recent deal. (See "How the Townhome Market Has Changed.")

2301 Vista Drive Manhattan Beach CAThat one deal was for 2301 Vista, a modern-style 3br TH with 2400+ interior square feet that's in escrow after listing about 75% higher than its 2011 purchase price.

But we also like to get away from anecdotes and look at a bit more data.

This time we're trying to get at two questions:

What's a typical price per square foot (PPSF) for a Sand Section townhome now?

What's are the recent trends?

To compare apples to apples, we looked at sales from the first half of each of the past 5 years. That is, Jan. 1-Jan. 30 of each year only (2011-2015).

As you'll see here in our chart, the…

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