Wednesday, October 12, 2011

Manhattan Beach Real Estate

If you are planning to invest in Manhattan Beach real estate, you should research real estate trends and inventories in the area to understand the direction of the market. When you research housing trends, you should look further back than just a few months. Historical trends will give you a long-term perspective to make a more informed purchase based on current median prices and inventories available in the Manhattan area. The median price and inventories reported are based on active listings on the market. By understanding when the market peaked and how the market has performed since it peaked, you can understand what to expect when buying Manhattan Beach real estate.

Trends at the Height of the Market in 2007

In August of 2007, the median price of real estate in Manhattan Beach peaked at $2,190,000. One of the main reasons for the peak median price was because the inventory in Manhattan Beach reached as low as 100 properties. Historically, when home inventories in a region drop, the price of the properties in the area will increase in value. After the housing market bubble burst, this historical trend has not held true. Now in 2011, Manhattan Beach real estate median prices have dropped and so have property inventories. With low sales prices and low inventories, it has turned into a buyer's market.

Current Inventory and Median Sales Price Trends

After the median price of home bottomed in March of 2011 at $1.558 million, the average price of Manhattan Beach real estate is now rebounding steadily at around 8 percent. The median price as of August 26 of 2011 has climbed back up to $1.726 million, inspiring more homeowners to put their homes on the market. In March of 2011, the average inventory of properties on the market was reported at a low 110. Just five months later, sellers are starting to see the growth in the media home price, which is encouraging them to place their home on the market as an active listing. The current home inventory in Manhattan has climber to 145 because of the steady 8 percent advance in median home price.

What Will Play Into Future Trends?

A number of different factors will influence future Manhattan Beach real estate trends. The most significant factors to consider are: interest rates, property inventory, unemployment, job opportunities, and community development in the area. If you are trying to predict the market's next move, it is important to understand how unpredictable real estate can be. With the Fed trying to balance the economy and the Treasury Department trying to fight inflation, governmental decisions can influence the market up or down depending on the needs of the nation.

Manhattan Beach real estate sales have raised steadily for the last five months. As the median price increases, the inventory has gained ground, as sellers have grown more confident with the price advance trend. Review median price and inventory trends to influence your purchasing power and make a wise investment.

1 comment:

  1. Hello,

    Beach real estate is the epitome of luxury living featuring the finest in detailed finishes, including solid mahogany doors, ceiling treatments, fireplaces, travertine marble throughout, and crown moldings. Thanks for sharing it....

    Boynton Beach Real Estate


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