Because one sale on the Strand can grossly affect "averages", there will always be what appears to be some abnormalities and deviations in home prices. But in general, we concur with the chart above. Currently you want to be looking at around $2M in Manhattan Beach to have enough homes to choose from.
Inventory remains constrained with 63 homes currently listed for sale in the MLS. Year to date, there have been 397 closed sales through almost 11 months so Manhattan Beach is averaging about 36 sales per month. With less than 2 months of inventory on hand, we are definitely looking at a seller's market for sure but still not as extreme as say North Redondo Beach 90278 (www.90278realestate.com) where there are currently only 38 Redondo Beach homes listed for sale in the MLS and more than that selling every month.
In Manhattan Beach, there are only 13 homes currently available for sale listed in the MLS below $1,000,000, There are 27 MLS Listings priced between $1-2M, 11 MLS Listings for sale between $2-3M, and the balance (13) MLS listings above $3M.
On a neighborhood by neighborhood basis, here's what's going on.
Manhattan Beach Sand Section Real Estate: MLS Area 142 boasts 24 home listings ranging in price from $1,150M in El Porto up to a little over $11M on the Strand for a knockdown (lot value).
Manhattan Beach Tree Section Real Estate: MLS Area 143 offers 12 homes for sale priced from $849K for a 1000 sq ft SFR in the 1800 block of Oak up to $2.575M for new 2013 construction in the 500 block of 33rd St.
Manhattan Beach Hill Section Real Estate: MLS Area 144 shows 6 listings starting from the mid $1M's and topping out at about $9M.
Manhattan Beach Mira Costa Real Estate: Named after the High School or maybe the other way around, offers the best value in terms of entry level pricing opportunities. MLS Area 147.
Manhattan Beach Liberty Heights Real Estate: MLS Area 146. Good values as well but not as much inventory as the Mira Costa neighborhood.
For those who may be reading this blog post at a later date, the availability of inventory will update automatically from the MLS with current results.
For more information on the value or best price for a home you want to buy or sell in Manhattan Beach CA call 310 975 5139. For similar housing data and prices elsewhere in the Beach Cities, visit our sister websites www.90254realestate.com for Hermosa Beach CA homes for sale, www.90278realestate.com for North Redondo Beach CA Real Estate, and www.90277realestate.com for South Redondo Beach CA,
Best of luck on your House Hunt.