There have been precious few examples of inventory "bulges" in Manhattan Beach in recent years. Mainly, the story – and the complaint – has been about a lack of choices for buyers.
But in East Manhattan Beach this Fall, there was a (temporary?) growth in inventory of comparable homes at comparable prices. As we detailed those listings in "What's (Not) Happening in East MB?" here at MBC, we called the group "a fairly diverse set of 7 comparable homes, all priced between $2.2M-$2.4M or so, competing for buyers' attention."
Now, some have sold.
And what economics suggests might have happened has happened: Prices dropped in response to the expanded supply.
Sold Listings (3)
1561 Gates (5br/6ba, 4375 sqft.) (pictured) is a 1980s Mediterranean that came…