If you are a regular reader of this blog, you will remember that we real estate pros are buzzing about the shrinking inventory in Manhattan Beach. There are WAY more buyers than sellers right now, and you know what that means …. soon to be rising prices! As shown in this report, the number of homes going into escrow is rising and the number coming on the market is shrinking, down almost 35% since a year ago at this same time. Looking at the Months of inventory indicator, we see that we have over a 50 percent reduction since this time last year, now with less than 1.7 months of inventory based on current sales rates. When you then remove the properties that are extremely high priced like Strand properties (and therefore take a while to sell) you will realize that we really have even less than that available.
How does a buyer survive in this market? By working with an agent like me that knows about pocket listings, those listings NOT on the MLS yet but are available to buy anyway. For example, right now I know about at least 5 pocket listings in Manhattan Beach, and I know about several that went into escrow this past week without ever hitting the market. If you want to compete in Manhattan Beach, you need someone who is connected working for you.
Please call if you want to know about pocket listings or any other aspect of Manhattan Beach real estate! 310-418-5353