Manhattan Beach and Hermosa Beach Real Estate Market Update - October 2023

The real estate market in Manhattan Beach and Hermosa Beach, CA is still relatively competitive, but it is starting to cool off slightly.

In September 2023, the median sale price of a home in Manhattan Beach was $2.52M, down 1.8% from last year. Homes are also staying on the market for a bit longer, with an average of 59 days on market compared to 57 days last year.

In Hermosa Beach, the median sale price of a home was $1.85M, down 1.2% from last year. Homes are also staying on the market for a bit longer, with an average of 61 days on market compared to 59 days last year.

There were 40 homes sold in Manhattan Beach in September 2023, up from 35 last year. There were 61 homes sold in Hermosa Beach in September 2023, down from 70 last year.

Here is a summary of the key real estate metrics for Manhattan Beach and Hermosa Beach as of October 2023:

Manhattan Beach

• Median sale price: $2.52M
• Average days on market: 59 days
• Market inventory: 61 homes

Hermosa Beach

• Median sale price: $1.85M
• Average days on market: 61 days
• Market inventory: 76 homes

What does this mean for buyers and sellers?

For buyers, the cooling market means that they have more negotiating power and may be able to find better deals on homes. However, they should also be prepared to act quickly, as there is still competition for homes, especially those in desirable areas.

For sellers, the cooling market means that they may need to be more patient in order to sell their homes. However, they should also be confident that there is still a lot of demand for homes in Manhattan Beach and Hermosa Beach, and they should be able to get a good price for their homes if they are priced correctly.

Overall, the Manhattan Beach and Hermosa Beach real estate market is still a good place to be for both buyers and sellers. The market is starting to cool off slightly, but there is still a lot of demand for homes in the area.