august 2017 manhattan beach real estate market trends update

15
Manhattan Beach Residential Real Estate Market Conditions August 2017

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Manhattan Beach Residential Real Estate

Market Conditions August 2017

Table of

Contents

Key Statistics for August

Sales 2017 Residential Sales Stats Year-to-Year Total Sales by Map Area Median 2017 Median Sales Stats Year-to-Year Median Sales by Map Area Listings 2017 Active Listings by Map Area 2017 Total Active Listings vs. Total Sales Year-to-Year Active Listings by Map Area Inventory 2017 Months of Inventory by Map Area Year-to-Year Months of Inventory

Summary

About Hady Chahine Contact Information

Key Statistics for August

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= trending positive = trending positive

= trending negative = trending negative

Month-to-Month Comparison July 2017 Aug 2017 Delta (qty) Delta (%) Increase Decrease

Total Sales 41 32 -9 -22.0%

Median Sales Price 2,425,000 2,247,500 (177,500) -7.3%

Median Days to Sell 13 29 16 123.1%

Listings 116 119 3 2.6%

Sales/Listing Ratio 35.3% 26.9% -0.084 -23.8%

Months of Inventory 3.0 4.0 1.0 33.3%

Monthly Comparison Year-to-Year Aug 2016 Aug 2017 Delta Delta Increase Decrease

Total Sales 39 32 -7 -17.9%

Median Sales Price 1,830,000 2,247,500 417,500 22.8%

Median Days to Sell 56 29 -27 -48.2%

Listings 131 119 -12 -9.2%

Months of Inventory 3.0 4.0 1 33.3%

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Total Sales Month-to-Month by Map Area Jun Jul Aug

Manhattan Bch Sand 11 15 8

Manhattan Bch Tree 21 10 7

Manhattan Bch Hill 6 2 3

Manhattan Village 1 2 2

Manhattan Bch Heights/Lib Vlg 6 6 4

Manhattan Bch Mira Costa 12 6 8

Total Sales 57 41 32

-

10

20

30

40

50

60

Jun Jul Aug

2017 Total Sales Month-to-Month by Map Area

Manhattan Bch Sand

Manhattan Bch Tree

Manhattan Bch Hill

Manhattan Village

Manhattan Bch Heights/Lib Vlg

Manhattan Bch Mira Costa

Total Sales

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Total Sales Year-to-Year by Map Area 2015 2016 2017

Manhattan Bch Sand 9 13 8

Manhattan Bch Tree 5 9 7

Manhattan Bch Hill 3 4 3

Manhattan Village 2 - 2

Manhattan Bch Heights/Lib Vlg 4 3 4

Manhattan Bch Mira Costa 7 10 8

Total Sales 30 39 32

-

5

10

15

20

25

30

35

40

2015 2016 2017

Total Sales Year-to-Year by Map Area: August

Manhattan Bch Sand

Manhattan Bch Tree

Manhattan Bch Hill

Manhattan Village

Manhattan Bch Heights/Lib Vlg

Manhattan Bch Mira Costa

Total Sales

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Median Sales Price Month-to-Month by Map Area Jun Jul Aug

Manhattan Bch Sand 4,000,000 3,075,000 2,405,000

Manhattan Bch Tree 2,600,000 2,817,500 2,850,000

Manhattan Bch Hill 3,500,000 3,597,500 1,695,000

Manhattan Village 1,150,000 1,267,500 1,272,500

Manhattan Bch Heights/Lib Vlg 1,475,000 2,142,500 1,642,500

Manhattan Bch Mira Costa 2,347,500 1,690,000 2,507,500

Market Median Sales Price 2,675,000 2,425,000 2,247,500

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

Jun Jul Aug

2017 Median Sales Price Month-to-Month by Map Area

Manhattan Bch Sand

Manhattan Bch Tree

Manhattan Bch Hill

Manhattan Village

Manhattan Bch Heights/Lib Vlg

Manhattan Bch Mira Costa

Market Median Sales Price

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Median Sales Price Year-to-Year by Map Area 2015 2016 2017

Manhattan Bch Sand 3,850,000 2,309,000 2,405,000

Manhattan Bch Tree 2,525,000 1,769,825 2,850,000

Manhattan Bch Hill 1,922,500 1,762,500 1,695,000

Manhattan Village 1,334,500 - 1,272,500

Manhattan Bch Heights/Lib Vlg 1,200,000 2,475,000 1,642,500

Manhattan Bch Mira Costa 1,575,000 1,562,500 2,507,500

Market Median Sales Price 1,949,500 1,830,000 2,247,500

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

2015 2016 2017

Median Sales Price Year-to-Year by Map Area: August

Manhattan Bch Sand

Manhattan Bch Tree

Manhattan Bch Hill

Manhattan Village

Manhattan Bch Heights/Lib Vlg

Manhattan Bch Mira Costa

Market Median Sales Price

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Active Listings vs. Total Sales by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Manhattan Bch Sand 42 43 49 60 55 59 57 62

Manhattan Bch Tree 16 30 32 27 23 17 23 21

Manhattan Bch Hill 14 15 15 14 16 17 11 8

Manhattan Village 3 2 - 1 2 5 5 5

Manhattan Bch Heights/Lib Vlg 3 8 7 7 6 7 4 7

Manhattan Bch Mira Costa 20 13 20 19 12 19 16 16

Total Active Listings 98 111 123 128 114 124 116 119

-

10

20

30

40

50

60

70

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2017 Active Listings by Map Area

Manhattan Bch Sand

Manhattan Bch Tree

Manhattan Bch Hill

Manhattan Village

Manhattan Bch Heights/Lib Vlg

Manhattan Bch Mira Costa

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Active Listings vs. Total Sales by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Manhattan Bch Sand 42 43 49 60 55 59 57 62

Manhattan Bch Tree 16 30 32 27 23 17 23 21

Manhattan Bch Hill 14 15 15 14 16 17 11 8

Manhattan Village 3 2 - 1 2 5 5 5

Manhattan Bch Heights/Lib Vlg 3 8 7 7 6 7 4 7

Manhattan Bch Mira Costa 20 13 20 19 12 19 16 16

Total Active Listings 98 111 123 128 114 124 116 119

Total Sales 23 15 32 48 46 57 41 32

Sales/Listings Ratio 23.5% 13.5% 26.0% 37.5% 40.4% 46.0% 35.3% 26.9%

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20

40

60

80

100

120

140

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2017 Total Active Listings vs. Total Sales

Total Active Listings Total Sales

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-

20

40

60

80

100

120

140

2015 2016 2017

Active Listings Year-to-Year by Map Area: August

Manhattan Bch Sand

Manhattan Bch Tree

Manhattan Bch Hill

Manhattan Village

Manhattan Bch Heights/Lib Vlg

Manhattan Bch Mira Costa

Total Active Listings

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Months of Inventory by Map Area Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Manhattan Bch Sand 6.0 22.0 5.0 7.0 8.0 5.0 4.0 8.0

Manhattan Bch Tree 2.0 4.0 3.0 2.0 1.0 1.0 2.0 3.0

Manhattan Bch Hill 14.0 15.0 5.0 5.0 3.0 3.0 6.0 3.0

Manhattan Village 2.0 2.0 - - - 5.0 3.0 3.0

Manhattan Bch Heights/Lib Vlg 1.0 4.0 4.0 1.0 1.0 1.0 1.0 2.0

Manhattan Bch Mira Costa - 7.0 3.0 2.0 1.0 2.0 3.0 2.0

-

5.0

10.0

15.0

20.0

25.0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2017 Months of Inventory by Map Area

Manhattan Bch Sand

Manhattan Bch Tree

Manhattan Bch Hill

Manhattan Village

Manhattan Bch Heights/Lib Vlg

Manhattan Bch Mira Costa

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Months of Inventory Year-to-Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2015 3.0 3.0 2.0 2.0 2.0 3.0 3.0 3.0 3.0 3.0 4.0 3.0

2016 5.0 5.0 4.0 4.0 3.0 4.0 5.0 3.0 3.0 3.0 3.0 4.0

2017 4.0 7.0 4.0 3.0 2.0 2.0 3.0 4.0

-

1.0

2.0

3.0

4.0

5.0

6.0

7.0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Months of Inventory Year-to-Year

2015

2016

2017

Summary August was a tough month for real estate investment in Manhattan Beach as total sales dropped 22%, the median sales price fell 7.3% or by

$177.5K, the median days to sell metric increased 123.1%, and the sales-listing ratio decreased 23.8%. Year-over-year months of inventory

metric climbed 33.3% from August 2016 to 2017.

In July, C.A.R. reported “““As we enter the second half of the year, we are likely to see some slowdown in sales that extends beyond the

typical seasonality change,” said C.A.R. President Geoff McIntosh. “While the rate of closed sales indicates that California’s housing market

has continued to move forward, tight supply continued to push up prices and lower affordability, which can ultimately undermine the

housing market by putting homeownership out of reach for too many households."

http://www.car.org/aboutus/mediacenter/newsreleases/2017releases/july2017sales/

For listing or buying questions or representation, or further information on market trending behavior, please feel free to contact me

anytime. I look forward to hearing from you!

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Monthly Comparison Year-to-Year Aug 2016 Aug 2017 Delta Delta Increase Decrease

Total Sales 39 32 -7 -17.9%

Median Sales Price 1,830,000 2,247,500 417,500 22.8%

Median Days to Sell 56 29 -27 -48.2%

Listings 131 119 -12 -9.2%

Months of Inventory 3.0 4.0 1 33.3%

Month-to-Month Comparison July 2017 Aug 2017 Delta (qty) Delta (%) Increase Decrease

Total Sales 41 32 -9 -22.0%

Median Sales Price 2,425,000 2,247,500 (177,500) -7.3%

Median Days to Sell 13 29 16 123.1%

Listings 116 119 3 2.6%

Sales/Listing Ratio 35.3% 26.9% -0.084 -23.8%

Months of Inventory 3.0 4.0 1.0 33.3%

Serving South Bay Home Buyers and Sellers Since 2001

RE/MAX Top 4 Team in California – 2012

RE/MAX 100% Club - 2011

Shorewood Realtors Top 5% in Overall Sales 2001-2006, 2008-2010

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About

Hady Chahine…

The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor’s personal, non-commercial use and may not be used for

any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet

Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy

of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal

inspection by and/or with the appropriate professionals.

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Hady Chahine

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• 310-404-5361