Year-End Inventory Modest at 60

By Dave Fratello | January 1st, 2020

For a year that began with the highest inventory in the current boom market, the year's end brings a range of encouraging news.

For one thing, we close out 2019 with less of an overhang of homes on the market - call it hung-over inventory, if you wish, as this post emerges on Jan. 1 - than last year or at the end of 2016.

With 60 listings active on Dec. 31, we're down 9 from last year and down 10 from the end of 2016.

The higher overhang that came into January 2019 foreshadowed a year in which inventory was often quite high.

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.

This would be a concern because, ordinarily, higher inventory is a warning that prices will be softer. The market may slow as buyers anticipate better deals and lower prices.

And it may be the case that prices did soften a bit in 2019. We'll hold on to any numbers in that regard for a near-future post. But, overall, the year ended without a great deal of drama.

What seems to be clear about 2019 statistics for Manhattan Beach real estate, even as the year has only just wrapped up, is that there was a lot of bumpiness to the numbers. Even the normal seasonal flow wasn't quite enough to explain the stops and starts, ups and downs and end results.

Whereas 2018 ended with a terrible quarter, 2019 needed - and got - a bounceback 4th quarter, which is going to help the data.

There will be more to examine. For now, enjoy the first part of your New Year with some knowledge that things appear to be a little better now than they did this time last year.

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