As we predicted October was not a good month for the Manhattan Beach real estate market. For the month there were a total of 32 homes (Single Family Residence, Condominium, Townhouse) sold, up slightly from September’s 25 but still down significantly from the summer months. The Sand section continues to remain the strongest market area with 1o homes sold in October at a median price of $1,850,000.
The overall market median sales prices have also been dropping since summer, dipping to just over $1.2 million in October. The Sand and Tree sections have maintained their high median sale prices, hitting four month highs in October, but the median values for homes sold in the Mira Costa and Hill sections have dropped significantly since summer.