|Months of Unsold Inventory|
Currently there are 53 active listings with 46 properties in escrow (MLS status either "backup" or "pending"). So far this year there have been 63 sales with 23 of those being logged in March and a rather paltry 21 in January and 19 in February. Seasonal softness most likely.
While there's no doubt that per the usual standard measurement - less than 90 days of inventory on hand, Manhattan Beach remains a "seller's market". How much so depends in large part on whether you analyze the ratio of existing sales compared to sold properties or in escrow properties.
On the other hand if we are considering the 46 in escrow plus what we are seeing happening so far in March, a more reasonable measurement might be that we have about a month and a half of available inventory currently.
To digress a second, one of my favorite statements is that if you were doing a study on the relationship between tall people and income and only looked at NBA players your logical conclusion would be that you have to be tall to make any money. In other words, data, analysis, statistics is the map and not the territory in many instances.
In the case of inventory, what is going on now very broadly is that desirable properties that are priced right are selling quickly with multiple offers while others, for whatever reason, sit on the market and linger distorting the true data of availability.