One Local Real Estate Stat That Went Down in 2021

By Dave Fratello | January 11th, 2022

As we review real estate statistics for Manhattan Beach in 2021, it seems like everything is up.

We've mentioned just some stats here on the blog, like the median home price, number and dollar volume of Strand sales, and the dollar volume for homes sold in Manhattan Beach.

And there are more.

manhattan beach median days on market for sold homesBut one stat actually went down in 2021.

It's Days on Market.

You see what we did there?

OK, to be clear, falling Days on Market is also a sign of a hot market. So this report is kind of like the others.

Was 2021 unprecedented?

With a DOM figure of 10 at year's end, yes.

We're looking at the median DOM for homes that did sell. So half the listings that sold actually needed more than 10 days to draw an offer (heaven forbid!), while half took 10 or fewer days to sell.

It's the lowest figure we can find going back to 2008, when our data runs out. Our chart spans 10 years.

The median DOM figure at the end of 2021 was half that for the year prior, and less than one-third of the June 2020 figure of 33. (Note that each data point represents the median for 12 full months.)

You can see in our chart that the low 20s were typical for a long stretch of 2017-2019. Before that, from 2014-2017, median DOM figures in the mid-30s were more typical.

And looking at the start and end of this chart, showing 10 years from 2012 to 2021, the figure dropped in 2021 to about one-fifth of the median DOM of 48 in Dec. 2012.

That's the median, typically more representative of trends than an average.

manhattan beach average days on market for sold homesJust for kicks, we pulled up the numbers for average DOM also. This figure includes all the homes that sold, including those that got stuck for months and months before selling.

You'll see much the same thing here in these data, with Dec. 2021 ending with the lowest average DOM in 10 years, at 34.

The overall shape of this graph is flatter, and the changes less dramatic.

For instance, in December 2021, average DOM was at about half the level from 10 years earlier, instead of 20% of the 10-year lookback we saw when looking at median data.

The numbers tell us just a little more about the market that was, suggesting that attractive, well-priced listings generally sold quickly last year. (Not really news, right?)

If your listing took longer to sell last year, it may have been in a tier with less activity - especially very high-priced properties. If it didn't sell at all, the house probably had issues. (It happens.)

However, 2021 is now in the books. It's a new year with new opportunities, and new problems.

Last year's market has set high expectations for sellers as we gear up for the year. Buyers are well advised to be ready and pounce when the right property comes along.

But if 2022 doesn't match 2021's stats across the board, don't be shocked. Some numbers can't easily get much higher, or, as for DOM, much lower.

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Nerdy note: All data is from the California Regional Multiple Listing Service, INC. InfoSparks © 2022 ShowingTime.

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