While we are looking at mid-July data, we'll also catch up on some more first-half stats for Manhattan Beach real estate.
It seems important to say, once again, that current local data don't yet show any kind of market slowdown, despite the "buzz" about that topic almost everywhere.
To wit, Tuesday's LA…
While we are looking at mid-July data, we'll also catch up on some more first-half stats for Manhattan Beach real estate.
It seems important to say, once again, that current local data don't yet show any kind of market slowdown, despite the "buzz" about that topic almost everywhere.
To wit, Tuesday's LA Times carried an article stoking concern that home prices are declining. The article cites DQ News data for the 6-county region of Southern California. The median price of homes for this vast region was down by $10K to $750K from May to June 2022.
Month over month?
We wouldn't do that locally, for sure. If we use a tiny data set like May-to-June 2022 in Manhattan Beach only, we see the median price jump by $1 million (!) from $2.625M in May to $3.625M in June. (Based on 35 and 33 sales, respectively.)
But a 6-county region brings an absolutely gigantic data set, more than 20,000 home sales, so maybe it's OK to take note of a month-to-month trend.
The Times writer offers a bit of data-rooted prognostication: "Before home values truly fall, they must first slow. And that slowdown appears to be starting."
Again, bringing things local, we don't find a reliable way to spot recent price declines in Manhattan Beach.
The Manhattan Beach median home price as of June 30, 2022, was $3.100M, a record high, using a (traditional) full 12 months' worth of data.
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