Is Manhattan Beach, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Manhattan Beach has remained a Seller's Market.
Key Takeaway
Manhattan Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manhattan Beach, CA
How much do homes in Manhattan Beach, CA cost?
Median Sold Price
$2,787,500
$1,302/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Manhattan Beach have sold for 10.1% less than they did a year ago.
Summary: The median home sold price in Manhattan Beach was $2,787,500 in March 2024, down 10.1% from last year, and the median price per square foot was $1,302.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.5M | - | N/A |
| 2 Bedrooms | $1.7M | $1.7M | -2.8% |
| 3 Bedrooms | $2.4M | $2.2M | -8.3% |
| 4 Bedrooms | $3.2M | $3.3M | +3.7% |
| 5+ Bedrooms | $4.3M | $5.0M | +16.3% |
Summary: Manhattan Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.8%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 16.3%.
Median Sold Price Compared To Nearby Cities
| El Segundo | $1.5M | $1.5M | +6.0% |
| Hermosa Beach | $2.1M | $2.2M | +4.9% |
| Redondo Beach | $1.4M | $1.4M | +1.5% |
| South Bay Cities | $1.7M | $1.7M | -1.3% |
| Manhattan Beach | $3.1M | $2.7M | -10.1% |
Housing Supply in Manhattan Beach, CA
How many homes are available in Manhattan Beach, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 113 | 117 | +3.5% |
Summary: The Manhattan Beach real estate market had 117 homes for sale in March 2024, a 3.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 32 | 37 | +15.6% |
| 4 Bedrooms | 23 | 22 | -4.3% |
| 5+ Bedrooms | 45 | 45 | 0.0% |
Summary: The Manhattan Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.6%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 28 | +55.6% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manhattan Beach, you may be able to get a good deal. 60.7% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Manhattan Beach in March 2024, up by 55.6% month-over-month. Of the 28 sold homes, 61% were sold under asking, 21% were sold at asking, and 18% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 50 Days | +17.6% |
Summary: Homes in Manhattan Beach had an average of 50 days on market in Mar 2024, up by 17.6% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manhattan Beach are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 28 homes were sold in Manhattan Beach; 64% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.