As we head into the holidays there are some changes happening in the Manhattan Beach real estate market. The market report for Manhattan Beach shows a market that is changing slightly. Homes are staying on the market longer. The number of new listings in November was much lower than in previous months. However, the number of sales was up and was the largest since July at 35. The median home price was $2,400,000.00
These changes reflect not only the time of year but also a market that may be doing some self-adjusting. The upcoming tax bill will have a major effect on states like California depending on how the versions are finally reconciled. The stock market continues to do well but many investors are beginning to wonder just how much longer the market will hold. If the big concessions to the wealthy and corporations don’t materialize into more jobs with major salary increases there could be a reckoning before long.
Interest rates are also a factor although perhaps not as strong in the local Manhattan Beach market as most buyers in our market have the financial resources to easily deal with a higher interest rate. For many of these buyers, it is not a matter of interest rates rising slightly. However if rising interest rates begin t affect companies that story could change quickly even with some big tax breaks.
The market reports below are in a slightly different form… I am trying short term and long term reports
7 Day Market Report Manhattan Beach: Single-family homes:
7 Day Market Report Manhattan Beach: condo/townhomes:
Manhattan Beach: Median Home Prices January-November 2017:
Manhattan Beach: Number of Home Sales January-November 2017: