Manhattan Beach Real Estate

2011-10-12T00:45:00.000-07:00

Manhattan Beach real estate can easily be described as a neighborhood of homes made for paradise and prestige. The general scenery of the Manhattan Beach area is very much like the scenery in the hit television show "The O.C." which coincidentally was filmed there.

Manhattan is one of the most expensive coastal towns in America. To live there is almost twice as costly as living in areas such as Bel-Air. The cost of the average Manhattan Beach real estate falls in between $900,000 and $6,000,000. To rent a property is even more costly at $3,000 to $10,000 a month. The area is definitely an upper class expensive area with the average household grossing about $100,750 per year.

The population of Manhattan is roughly 37,745 and consists of 92% white Americans. The other eight percent of the population is divided between African Americans and Asian Americans. The male to female ratio is just about even and the median age of residents is 37.7 years old.

Manhattan Beach is divided into several different sections as per the assignment of the long-term residents.

The area known as "The Strand" consists of a long stretch of land along a bike patch that has multi-million dollar ocean front homes lines up along it.

The "Tree Section" is a quiet family oriented section with lots of space in between the homes and room for children to play. The Tree Section was named the tree section because of the names of the streets in the area. Most streets in this section of Manhattan Beach are named after trees such as Elm, Oak, Pine, Palm, and Poinsettia streets. The tree section also has many trees throughout the lands but ironically this was not the reason why it was named the tree section.

The area west of the tree section is known as "The Sand Section" and is basically where all the sand is. Manhattan Beach real estate in this area are adjacent to the ocean. The Sand Section got its name from the sands of the oceans.

The Hill Section was very appropriately named as it consists of a group of higher priced homes which are situated on steep hills overlooking the ocean.

There are many more sections within Manhattan Beach real estate, but those are the four most prominent. No matter what section is chosen to live in, residents are sure to feel like celebrities on a fantasy vacation.

Manhattan Beach Real Estate

2011-10-12T00:22:00.000-07:00

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.