As we continue checking in stats from the past year, we have come across another "green shoot."
Green, as in money.
In 2024, investment in Manhattan Beach home purchases bounced back dramatically.
This chart is showing the year-to-year change in how much money was spent to buy local homes. It's an illustration of which way the wind was blowing each year, and how strongly.
After two recent years that had seen the volume of sales and investment fall year-over-year, 2024 saw a bounce-back of 25%. That's a strong upward movement, and quite a rebound.
While the 13 years' worth of data here shows plenty of fluctuation year-to-year, and plenty of "up" years, you only saw 25% or greater increases year-over-year twice before 2024.
Those 25%+ jumps were in the boom years of 2017 and 2021.
Does that make 2024 a boom year, too?!?
Well, hang onto those overalls. Let's look at the numbers from a little bit more of a straightforward angle.
There was $2.260 billion invested in Manhattan Beach homes in 2024.
That's actually a little less than in 2022, a year that had a boom-y Spring before the May freeze-up.
Nonetheless, $2.260 billion for 2024 is more, in total, than was spent in 5 of the prior 9 years.
That's a little more impressive when you understand how much the number of homes sold in 2024 lagged the other years to which that year is compared here. Let's take another quick look at total home sales for the same period of time.
What we're showing here is that 2024 somehow bettered multiple years' worth of dollar volume statistics in a 12-month stretch when there were nearly one hundred fewer home sales to work with.
How does that happen?
It's a result both of increases in the median price – and therefore prices market-wide – and of more high-end sales coming through.
Remember, 2024 saw the highest sale ever in town ($24.500M on The Strand), two sales of $20M+, three sales of $14M+, and, heck, even two sales of $10M+ East of Sepulveda.
There's no life East of Sepulveda? For $10M, yeah, there's life.
Juuuuuuuuust in case you're not instantly recalling all the high sales we're referring to here, worry not. We'll be running retrospectives throughout January, looking back at the highest and most notable sales all over Manhattan Beach in 2024.
Just check your inbox and pop in here from time to time.
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.
