Curious about Manhattan Beach home sales? The graphics below cover the 28 closed Manhattan Beach sales of single family homes for October, 2009. Most of the information should be pretty self explanatory. The average reduction from the original listing price is 11%. The data comes directly from the MLS and is prone to containing omissions. For example, it's not uncommon for credits towards closing costs to be issued to a buyer in-lieu of lowering the selling price. Most lenders limit these sorts credits to approximately 3% of the purchase price. Cash purchases have no restrictions on how credits vs. sales prices can be manipulated in order for the seller to maintain a desired closing price. By comparison, October 2008 had a total of 19 single family sales with an average days on market count of 80, and an average selling price of $1,566,358. The total sales volume for the period was $29,760,800. 2009's average selling price is $1,471,111, an average decline of 6% for the year.
Click on either image to see an enlarged version
Here's a quick summary of averages for October 2009
Average Day on Market: 98
Average Selling Price: $1,471,111
Average Original Listing Price: $1,682,127
NOTE: this information has been updated to reflect the removal of one of the 633 15th listings, which appeared twice in original entry I posted.
