Manhattan Beach Real Estate Sales, Volume, Down in 2022Jan 16, 2023 11:33AM ● By Mb News Staff
What was the flip side of that record $3.1 million median home price for Manhattan Beach? Well, 2022 real estate sales volume was down - like, way down.
All told, there were 38% fewer sales (322) in 2022 than in 2021, according to local real estate blog MB Confidential. Furthermore, sales dollar volume fell by $1.230 billion to $2.324 billion (-35%).
December 2022 was particularly slow, with sales down more than half over the past two Decembers.
However, Dave Fratello, MB Confidential blog author and broker at Edge Real Estate Agency, said that all was not doom and gloom.
"Every low that we point to now - over these several months as the pandemic-fueled market slows - also feels somehow reassuring," he said. "The trends simply can't continue downward at anything like the pace we have seen recently."
(See also, "Data Show Drop in Sales, Suggest Bounceback," from November.)
January is not off to a bad start, either, added Fratello, noting that by the 12th of the month, there had already been $25.3 million in closed sales in town.
"Give this market a little time to take shape. Manhattan Beach is always resilient," he said.
Manhattan Beach's Most Complete Real Estate Resource
MB Confidential, MB News'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 MB Confidential author and Edge Real Estate Agency broker Dave Fratello by email, or call (310) 243-6299.