About Manhattan Beach's Liberty Village

Manhattan Beach Liberty Village Home Sales in 2009

The area surrounding Polliwog Park in Manhattan Beach is known as Manhattan Heights/Liberty Village in local real estate parlance. Single family home values here have done well over the course of the past decade. Back in 2000, the median sales price was $525 K and had been steadily increasing through last year when it was just under $900 K. The number of sales here, as has been the case in the vast majority of sub-areas in the South Bay, has dropped by half from the peak here in 2000. What is interesting in Manhattan Heights and Liberty Village is that the number of sales jumped 50 percent from 2008 to last year while the median sales price slid by about six percent. The challenge will be to maintain this sales momentum through the balance of this year with an increase in pricing.

Recent sales activity provides a good indication if this is, indeed, happening. It turns out that three homes have already closed escrow this month and there are an additional five homes in escrow. The number of sales are off to a very encouraging start. The average listing price of the deals in escrow, on the other hand, is just below last year's median sales price, so it appears the sales are there, but at reduced pricing. This has been a common theme in the South Bay.

It is interesting to also look at new home investment in various areas. The Manhattan Heights and Liberty Village areas have only had a couple of new homes sold in the past two years. Developers have been reticent to build here for the time being. A few years ago in 2006, there were four newly built homes sold. There is a new home on the market as of this writing and only six total single family homes currently listed. This relatively low inventory may very well put an upward pressure on pricing, which may in turn trigger new development. It will be a fun market to watch in 2010.

Visit us at Beachtime Realty

Search Manhattan Beach Homes