Manhattan Beach, CA.... Million Dollar homes and Foreclosures
By Kaye Thomas, e-PRO, Manhattan Beach CA
(Real Estate West)
If you caught the LA Times article about Million Dollar home sales in CA you know that in 2008 Manhattan Beach had more home sales over one million then any other community in the state. There were 296 sales in Manhattan Beach of homes above $1M in 2008 . While that probably makes most Manhattan Beach homeowners happy as an indication that values didn't take a complete nosedive... the information also points out that 2008 numbers were down considerably from the 403 homes that sold in 2007. So far this year that trend seems to be continuing with closed sales in January 2009 of 7 homes and 2 townhomes...ouch! None of this information is surprising if you are buying or selling a home in Manhattan Beach or any of the Beach Cities. Sellers are trying to figure out the magic number that will...