Manhattan Beach Market Update for Last Quarter of 2005

Manhattan Beach continues to be the highest priced beach city in the South Bay.

There were 98 sales of single family residences, townhouses, and condos during October, November, and December of 2005. The median price for that period of time was $1,600,000, and the median number of days on the market before a property went into escrow was 27 days. 108 homes went on the market during the last quarter of 2005.

One year earlier, in October, November, and December of 2004, there were 105 sales, and the median sales price was $1,350,000. That's a 7% decrease in the number of sales and a 19% increase in the median sales price.

The only city in the South Bay that commands higher prices than Manhattan Beach is the small city of Rolling Hills on the Palos Verdes Peninsula. That's no surprise with Manhattan Beach's proximity to sandy beaches, relatively flat lots, and upscale beach culture to be found there.

For more information on Manhattan Beach or other cities in the South Bay, visit http://www.SouthBayHomeTeam.com.