Manhattan Beach, known for its prime beachfront location, is a highly sought-after residence in Los Angeles County; however, the competition for homes is fierce. Inventory is notoriously low while demand from buyers remains incredibly high, driving up home prices in the area yearly. If you dream of purchasing one of these homes for sale in Manhattan Beach, you must strategically position yourself among the hoards of eager buyers vying for a limited supply. Here are some tips to help you score your dream home amid stiff competition:
Research neighborhoods thoroughly
Before looking at listings, research which Manhattan Beach neighborhoods appeal to you most, consider commute times to work, proximity to shops and restaurants, access to parks and beaches, school districts, and other lifestyle factors. Drive around target areas at different times of day and evening to observe parking availability, noise levels, and traffic. Understand the neighborhoods to help you move quickly when the right home hits the market.
Get pre-approved for a mortgage
All-cash offers reign supreme in Manhattan Beach’s market, sometimes yielding bidding wars well over asking prices. But even if you can’t pay cash, getting pre-approved for a mortgage shows sellers you are serious and ready to move fast. Work with a reputable lender to determine your price range and loan terms, compile needed documents early, and have your preapproval letter in hand before house hunting. These steps will make your offers much more attractive to sellers.
Act quickly when your dream home surfaces
Even with thorough research and preparation, finding your perfect home in Manhattan Beach may boil down to some luck and impeccable timing. You must be ready to view properties immediately and make expeditious offers above asking prices to beat the fierce competition. Consult your agent on offer strategies beforehand so you can submit all documentation and earnest money deposits at lightning speed when the proper listing turns up.
Avoid getting emotionally attached
It can be gutting to lose out on a home you wanted badly, especially after the effort it takes to get set up to purchase in Manhattan Beach. But try to remain detached when viewing homes you might like, and don’t fantasize excessively about living in a house you toured. Emotional attachment makes it much harder to be objective when evaluating listings and making competitive bids.
Buying a home in Manhattan Beach
The average price for a single-family home is now over $3 million. Home prices in Manhattan Beach are experiencing a steady increase due to limited inventory and high demand. Luxury new construction homes with ocean views can sell for over $10 million. Even modest properties a few blocks inland from the ocean now fetch seven figures. For buyers seeking sand and surf, few areas can compete with charming Manhattan Beach, albeit with one of California’s most elevated price tags to match the exclusive seaside lifestyle.
Things to do in Manhattan Beach
The Strand path, spanning over two miles of sandy beaches, offers stunning views of the Pacific Ocean. Manhattan Beach provides plenty of opportunities for beachgoing and oceanside recreation. Visit the Roundhouse Aquarium on the pier to see local marine life. Downtown Manhattan Beach features shops, cafes, and restaurants along Manhattan Beach Boulevard and Manhattan Avenue. The neighborhood also has beach volleyball courts, golf courses, and parks. Manhattan Beach’s beautiful beaches, lively downtown, and coastal location make exploring fun.