Is Manhattan Beach, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Manhattan Beach has remained a Seller's Market.
Housing Prices in Manhattan Beach, CA
How much do homes in Manhattan Beach, CA cost?
Median Sold Price
$2,842,500
$1,302/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Manhattan Beach was $2,842,500 in May 2024, down 10.9% from last year, and the median price per square foot was $1,302.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $1.5M | $410K | -74.1% |
2 Bedrooms | $1.7M | $1.7M | -2.8% |
3 Bedrooms | $2.4M | $2.2M | -8.3% |
4 Bedrooms | $3.4M | $3.3M | -1.8% |
5+ Bedrooms | $4.4M | $4.8M | +10.3% |
Summary: Manhattan Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 74.1%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 10.3%.
Median Sold Price Compared To Nearby Cities
El Segundo | $1.4M | $1.6M | +13.4% |
Hermosa Beach | $2.1M | $2.2M | +5.9% |
Redondo Beach | $1.4M | $1.4M | +2.1% |
South Bay Cities | $1.7M | $1.7M | 0% |
Manhattan Beach | $3.1M | $2.8M | -10.9% |
Housing Supply in Manhattan Beach, CA
How many homes are available in Manhattan Beach, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
124 | 140 | +12.9% |
Summary: The Manhattan Beach real estate market had 140 homes for sale in May 2024, a 12.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 12 | 13 | +8.3% |
3 Bedrooms | 30 | 35 | +16.7% |
4 Bedrooms | 24 | 30 | +25.0% |
5+ Bedrooms | 56 | 61 | +8.9% |
Summary: The Manhattan Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 8.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 31 | +40.9% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Manhattan Beach in May 2024, up by 40.9% month-over-month. Of the 31 sold homes, 68% were sold under asking, 13% were sold at asking, and 19% were sold over asking.
Days on Market for Manhattan Beach, CA
How long does it take to sell a home in Manhattan Beach, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
15 Days | 53 Days | +241.7% |
Summary: Homes in Manhattan Beach had an average of 53 days on market in May 2024, up by 241.7% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 31 homes were sold in Manhattan Beach; 55% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.