Q4 2019 Was Best of Last 5 Years

By Dave Fratello | February 11th, 2020

We saw and felt the higher level of sales activity late in 2019. We told you about it as it was happening.

For instance, after an uneven first 3 quarters, we deemed October "Rocktober" after a whopping 47 new purchase contracts were signed within that month's 31 days. (See "MB Market Update for 10/31/19.")

Yes, 2019 finished strong, and turned out to have the most closed sales of any 4th quarter since 2014.

At 102 closed sales, 2019 beat 2018 badly, and appeared to reverse a 3-year trend of slower and slower 4th quarters.

You will recall, for most of 2019, there were more homes for sale at any given time than you could find going back 6-7 years at the same period.

Often, extra inventory softens prices. You can also see a slowdown in the sales pace, as buyers anticipate that waiting will give them more options and greater pressure on sellers and prices.

But by the end of 2019, nothing looked soft. The market looked to be on fire. Though we didn't hear anyone ring a specific bell, it did seem as if buyers stopped waiting all at once and began clearing out the inventory left on the shelves.

Perhaps higher inventory, this time, also meant you could have more sales.

Based on the amount of money spent within the 4th quarter, 2019 was the best year-end period ever seen in Manhattan Beach.

 

The dollar volume of sales that closed within Q4 was $571.7M, edging out 2014's $569.1M for first place.

(For email readers, an image of the chart is repeated at the bottom of this post. Online, it's animated.)

That's a rather amazing 16% jump year-over-year ($79 million), and 7% over the 2017 figure.

Now, the 4th quarter is not often the busiest of the year, but it's not as quiet as Q1. The middle of the year sees the greatest number of sales and dollars spent.

We'll look at more data on sales and dollar volume shortly.

 

Please see our blog disclaimer.

Latest Listings Among
Manhattan Beach Homes For Sale