Single family homes sales west of Sepulveda in Manhattan Beach have maintained the strong sales pace set in February with 17 homes going into escrow in the second half of February, and 11 more in the first 15 days of March according to the Multiple Listing Service “MLS”.
17 new listings hit the market in March so new offerings are still outpacing sales but this uptick in activity is showing an upward market trend in the area.
With new offerings, sales, failed escrows, total inventory rose by just 5 listings over the end of February, to 83 SFRs by mid-March. Broken into sections, The Hill Section has 18, Sand Section 34 and the Tree section 31.
The builder’s seem to be getting back into the game in the sand section as homes being sold for land value are beginning to move. 405 9th sold in 6 weeks despite the very high list price of 2.3m (probably sold for less than 2m) and 416 6th listed at 1.799 two weeks ago, quickly went into multiple offers and is in escrow.
sources: Multiple Listing Service/Manhattan Beach Confidential