Real Estate Sales Top $100M in Jan-FebMar 08, 2019 08:52AM ● By Jeanne Fratello
This year, 12 of the 38 sales were above the median price of $2.400 million from calendar year 2018. That stands in comparison to Jan./Feb. 2018, in which 18 of 40 sales were above the median price set the prior year, 2017 (with a $2.349 million median).
Additionally, this year, 6 closed sales were over $4M, while only 4 sales were over $4M in 2018.
So is that "real estate slump" really coming?
"What we're saying here is that Manhattan Beach is not showing obvious signs of slowing early this year," said Dave Fratello, real estate broker and author of Manhattan Beach Confidential.
"There's a lot of hand-wringing about how a slowdown is either happening or inevitable," continued Fratello, "but mostly so far, we're telling you the data aren't there yet, despite the buzz. If and when we can call a true change/reversal in the market, you know we will."
Fratello presented the data as part of his monthly market report published on the blog.
Notable: This week, Manhattan Beach Confidential (our partner blog) celebrates its 12th birthday. Congratulations to Dave and MB Confidential for a dozen years' worth of insight, data, analysis, and a few chuckles.