Like most high-end coastal sections of Southern California, the Manhattan Beach market west of Sepulveda finally started to pick-up in the 4th quarter and the 1st quarter this year was strong relative to last year with several listings selling quickly and some going into multiple offer situations.
If you look at the chart above based on closed sales in the MLS, you will notice the area is still well behind what a normal pace would be considered.
Sales were up 30% over 2009. The 25 closed sales last year in Q1 –2 per week, between Jan.-March 2009 – reflected a pace that was less than one-half the average for the decade.
(*Sources: Manhattan Beach Confidential and The Multiple Listing Service)