Everyone wants to know what their home is worth and what the market is doing right now. Sometimes things can be scary, but here’s the thing, the market appears to be a bit shaken, but not stirred.
We say this because the downward movement is very slight. The decrease as of now is anywhere from 1-2% in average sales prices in Manhattan Beach & Hermosa Beach. The inventory in these local markets is still very low, meaning there are not a lot of properties on the market for sale currently. In Manhattan Beach at the end of 2017 there were 127 properties on the market, by the end of 2018 there were less than 100 and we have 83 active listings for sale citywide. We are looking at inventory and we are also monitoring the mortgage interest rates to see the directional changes as the year moves forward.
For a personal valuation of your property or to hear more about today’s South Bay real estate market give us a call at 310.901.8512.