A look at April 2010 home sales in Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo…
Manhattan Beach Strand
Seems as if Spring has definitely sprung for the South Bay-Beach Cities real estate market. Inventory is increasing slightly from the first quarter as more sellers are testing the market. While inventory is still well below that of last year at this time, there are definitely more choices then buyers saw a few months ago. Manhattan Beach, Hermosa Beach, Redondo Beach and El Segundo are all experiencing a rise in home sales after some very lean years.
Prices at the entry levels are holding steady and even showing slight increases from last year in all the Beach Cities. That part of the market has been very steady now for about a year. The middle of the market is also showing signs of stabilizing while the upper levels are anyone’s guess. There are sales in the $3.5+ range but most of them found buyers after some big price reductions.
On the other hand, Strand properties in Manhattan and Hermosa are posting prices that are well above those found at the height of the market. These properties are the epitome of the old adage location, location, location. The South end of the Manhattan Strand and the North end of the Hermosa Strand seem to be the place for upper end properties. It will say a lot about the draw of our local real estate market if these homes find buyers near the asking prices.
Beach Cities: Sold April 2010