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Manhattan Beach Marks $1 Billion Increase in Home Sale Volume for 2021

Jan 05, 2022 08:49AM ● By Mb News Staff
Manhattan Beach real estate is hot. How hot? The total amount of money spent on homes in Manhattan Beach rose by nearly $1 billion over the amount spent one year prior, according to local real estate blog Manhattan Beach Confidential.

The total spent on local real estate in 2021 was $3.554 billion, versus $2.563 billion in 2020, just $9 million short of a full $1 billion dollar increase.

"Now, it's not as if 2020 was some kind of off year," noted Dave Fratello, broker at Edge Real Estate Agency and author of Manhattan Beach Confidential. "The first half of 2020 was a little off, sure, with COVID shutdowns hammering the market for several prime weeks. But the market recovered so fast that 2020 concluded with the highest dollar volume ever at that time. So now, to see 2021 beat the new record high by a full billion just underscores what a bananas year it was."

Fratello added that it was also the percentage change that was record-setting.

A new MB Confidential chart shows that only one year came close to the year-over-year change that 2021 brought.

With a 39% increase in dollar volume, 2021 beat 2017's 31% increase, as well as 2020's rise of 19% and 2014's rise of 23%.

Volume... and Prices

How did it happen? Volume and prices, said Fratello.

This past year was the first in at least the past 14 years to see more than 500 homes sold within one calendar year, he said.

Additionally, the median price hit and exceeded $3.0 million in Manhattan Beach for the first time ever in November 2021, and rose more than $50K at year's end.

"This data sure sets the bar high for 2022, if people want to see any kind of repeat of 2020-21, or a continuation of momentum," noted Fratello. 

Manhattan Beach's Real Estate Resource

MB Confidential, DigMB's sister publication, offers the most detailed resource available for Manhattan Beach real estate data. 

For the latest pending/sold reports and massive amounts of additional local real estate data, visit MB Confidential's data page. For an up-to-the-minute scorecard on new listings, new escrows, new closed deals, and new price cuts, visit the Manhattan Beach Confidential Dashboard.

Additionally, for more insights into the market, to inquire about buying or selling properties, or to learn more about off-market inventory, contact Dave Fratello by email, or call (310) 243-6299.

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