People always ask me, “Hey Dan, how’s the market? Especially lately as people want to know if it’s holding strong or going down!
The market is still strong and still moving. There’s no doubt this Virus has had its effects on the market but by no means does it show any signs of major distress.
As I sit here and write this, we continue to be in a state of low inventory and very low interest rates. Inventory levels being low keep prices from dropping through the floor, and interest rates being low keeps buyers interested, especially when it’s safe to say prices have either plateaued or come down a little.
Right now in Manhattan beach there are 99 homes on the market for sale. That is not very many for Manhattan Beach, even more specifically in the Tree Section of Manhattan there are only 22 homes for sale and of that amount only 4 homes are listed between $1.5M and $2.0M. So my point is as you filter down to specific locations and price ranges there is not very much to choose from. Another example is The “Golden Hills” in north Redondo Beach, a popular neighborhood for “entry level” South Bay buyers, where there are only 8 homes on the market. 2 of which are $900,000-$1,000,000 and nothing below that, 3 between $1,260,000-$1,345,000 and 3 at $1,545,00-$1,675,000. In this neighborhood these are 3 separate price ranges so if you’re a buyer in one of them you only have 2 or 3 houses to pick from or even look at.
