Manhattan Beach housing market recovering, data shows
In 2012, 372 homes in Manhattan Beach were sold for $1 million or more. Photo by Ed Pilolla California’s luxury real estate market is on the mend, and Manhattan Beach is no exception. According to a recent report from San Diego-based analyst DataQuick, nearly 27,000 homes were sold statewide for $1 million or more last year, the highest record since 2007. Manhattan Beach logged the second highest sales of such homes in the state at 372, up from the previous year’s 328. It trailed behind Hillsborough, an affluent town in the San Francisco Bay Area, which recorded 422 sales. Dave Fratello, a local buyer’s agent who runs the popular real estate blog “Manhattan Beach Confidential,” noted several factors that could account for the spike of million-dollar home sales in Manhattan Beach. “The low end of Manhattan Beach has gotten very expensive—there simply aren’t many under a million left,” Fratello said. “The other thing is, the number of sales last year was the best in five years, almost equaling the sales of the bubble years of 2004 to 2006. We really roared back last year.” The median price of Manhattan Beach’s single family homes sold last year varies according to the source…
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