Study The Sales And Inventory Trends For Manhattan Beach Homes

Study The Sales And Inventory Trends For Manhattan Beach Homes
Study The Sales And Inventory Trends For Manhattan Beach Homes
By Matt E Pernice

Manhattan Beach is one of the most beautiful coastal communities in southern California. In this highly desirable area, real estate trends have changed over the last five years as the economy has declined and mortgage money is hard to obtain. People interested in buying Manhattan Beach Homes in the current inventory and residents in the area who are considering listing their home all need to be aware of and keep abreast of current and potential trends in the real estate market.

Median home prices listed in information and charts on local real estate trends are derived from current active listings of properties and currently available housing inventory offered for sale at any point in time. Past information clearly indicates that the homes in Manhattan market peaked in the second half of 2007. It topped out at the $2.19 million median price mark. Inventory at times that year had been as low as 100 listings at some pints. The Manhattan Beach Home market experienced a 29% drop in sales from 2007 until the end of the first quarter in 2011.

Since March 2011, median prices on Manhattan Beach Homes have risen steadily to today's average price of $1.678 million. That is a growth of 8%. During this same time period the inventory of homes available has also grown, from 110 homes to the 145 currently available. The trend appears to be that Manhattan Beach real estate owners are selling into, or taking advantage of, this price increase. Some new listings are attributed to their sellers' belief that the real estate market seems to be good at this particular time in their area.

Others in the know believe that even though 2011 has produced fairly good real estate numbers so far, the area is not necessarily at the start of a significant real estate upswing. Only time will tell. Traditionally there is inventory growth in the summertime, as families who are moving want to get settled before the next school year begins. There are real reasons for optimism, however. The first half of 2011 saw the sales of inventory west of Sepulveda and of all of Manhattan Beach Homes exceed those of the same time period in 2010. This trend continued into June 2011, which experienced a large increase over June 2010, with closed sales up by 2/3rds. This could very well indicate a warming trend in the market for Manhattan Beach Homes.

The number of closings in the first half of 2011 was up by 11% over the same period in 2010. The third quarter of 2011 has seen a 48% improvement. There have been 25% more new listings west of Sepulveda during this time frame as compared with 2010. Real estate agents note a change in the mood of their sellers and buyers of Manhattan Beach Homes. In 2009 buyers were frightened and mortgage money was had to get. Sellers were not listing unless they had no choice. Fewer houses were placed on the market in 2009 than in the preceding ten years before that. By the spring of 2010, buyers were more interested, inventory was low and deals were being made. Multiple offers on a property were making a comeback. Today median home prices and inventories are up and the market is showing growth.

This positive movement in the Manhattan Beach Homes market is tempered by some buyers and sellers' concerns that the "double dip" housing recession prediction being made by some national pundits might still occur. Some have concerns about how the market will be affected if the government ever stops the current federal programs that are keeping interest rates low. Only time will answer those concerns. [http://www.mattpernice.com]Matt Pernice assists buyer and sellers in the Manhattan Beach community. Search All Manhattan Beach Homes Today. [http://www.searchallmanhattanbeachhomes.com/CA/Manhattan_Beach]Manhattan Homes

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Manhattan Beach Real Estate

Manhattan Beach Real Estate
By Matt E Pernice

Manhattan Beach real estate can easily be described as a neighborhood of homes made for paradise and prestige. The general scenery of the Manhattan Beach area is very much like the scenery in the hit television show "The O.C." which coincidentally was filmed there.

Manhattan is one of the most expensive coastal towns in America. To live there is almost twice as costly as living in areas such as Bel-Air. The cost of the average Manhattan Beach real estate falls in between $900,000 and $6,000,000. To rent a property is even more costly at $3,000 to $10,000 a month. The area is definitely an upper class expensive area with the average household grossing about $100,750 per year.

The population of Manhattan is roughly 37,745 and consists of 92% white Americans. The other eight percent of the population is divided between African Americans and Asian Americans. The male to female ratio is just about even and the median age of residents is 37.7 years old.

Manhattan Beach is divided into several different sections as per the assignment of the long-term residents.

The area known as "The Strand" consists of a long stretch of land along a bike patch that has multi-million dollar ocean front homes lines up along it.

The "Tree Section" is a quiet family oriented section with lots of space in between the homes and room for children to play. The Tree Section was named the tree section because of the names of the streets in the area. Most streets in this section of Manhattan Beach are named after trees such as Elm, Oak, Pine, Palm, and Poinsettia streets. The tree section also has many trees throughout the lands but ironically this was not the reason why it was named the tree section.

The area west of the tree section is known as "The Sand Section" and is basically where all the sand is. Manhattan Beach real estate in this area are adjacent to the ocean. The Sand Section got its name from the sands of the oceans.

The Hill Section was very appropriately named as it consists of a group of higher priced homes which are situated on steep hills overlooking the ocean.

There are many more sections within Manhattan Beach real estate, but those are the four most prominent. No matter what section is chosen to live in, residents are sure to feel like celebrities on a fantasy vacation.

Search All homes and listings in [http://www.searchallmanhattanbeachhomes.com]Manhattan Beach. [http://www.mattpernice.com]Matt Pernice can also assist you locate and purchase your new beach property.