Whether it is just a temporary blip in the market or the beginning of the long awaited turn around is yet to be determined but the market activity since the beginning of the year has been a dramatic change from the end of 2011. Manhattan Beach real estate has always remained strong, from a pricing perspective, compared with most of California, but recently we’ve scene numerous sales with multiple offers, over askin price offers and very brief days on market.
The chart above says everything….with a huge jump in pending home sales not seen in years. As of March 16th there are 86 pending home sales in Manhattan Beach which is truly an unbelievable number. With median home prices around $1.3M, there are few lower priced options in the area and homes sales have remained strong in the luxury home market in Manhattan Beach, with 36 of the pending sales priced at $1.5M or higher. View the closed sales in Manhattan for February of 2012.