median prices

Found 48 blog entries about median prices.

The full year data for 2016 are in, and Manhattan Beach real estate rose to a new high.

With a median price of $2,075,000, local real estate carved out a new peak.

However, that's a rise of only $15,000 in the median from 2015, less than 1%.

As you see clearly in our chart, that's a significant leveling out, after a price trend that had been all uphill. The year-to-year increase in the median price for Manhattan Beach:

2012-2013: 15%

2013-2014: 17%

2014-2015: 8%

2015-2016: 1%

So maybe we're leveling off now? 

There's some other good news in the numbers. The number of sales actually ticked up in 2016 after 3 years of decline.

As you see, while prices were rising in recent years, the total number of sales was actually…

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.

No.

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…

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