The Hometown Fair is over and The World Famous Pumpkin race is Sunday October 23, 2016.... It must be Fall in Manhattan Beach! Fall is typically a time when real estate sales slow as buyers and sellers look toward the holidays. This year we have a Presidential race claiming our attention as well as numerous ballot initiatives. Just one of these happenings can influence a market.. all of them together make for interesting speculation.
September had 38 home sales. That was the same number as September 2015 and one less than August of this year. . October sales are looking good. As of today twenty eight homes have closed escrow. With another 12 days left in the month we could see the same number as September and possibly more. Many of these homes went into escrow 45-60 day ago. The key number for the balance of the year will be properties entering escrow after September 1,2016
Inventory is much better than last year at the same period which is good news for buyers…
Home Sales are remaining steady.. Median home prices bumped up over the $2.0 mark. Once again the mix of the sold properties can make a difference. Prices for townhomes bumped up in September with a few sand section sales. There are a number of new homes that have yet to find a buyer. In addition there seem to be new projects on every street. This might be an opportunity to negotiate a good price if you close by the end of the year. .