We'll remember the first half of February 2015 as the time when we said, "Oh, really!?!" a few more times.
The kinds of deals buyers are making early in the year continue to set the tone for another roaring year in Manhattan Beach real estate. Consider:
- 316 4th St., a corner lot at Crest and the flat 4th…
We'll remember the first half of February 2015 as the time when we said, "Oh, really!?!" a few more times.
The kinds of deals buyers are making early in the year continue to set the tone for another roaring year in Manhattan Beach real estate. Consider:
- 316 4th St., a corner lot at Crest and the flat 4th St. walkstreet, listed for $3.300M, about $600K above 2 recent nearby lot-sale comps, and is in escrow for more than 10% more than asking price; this says "watch out, South End." Ocean views helped on this one.
- Two East MB lots deep into the 1700 block, specifically 1721 Gates and 1727 Gates, listed for $1.400M and $1.500M, respectively, and made immediate deals. Previously, you might have penciled them in at $1.300M-minus each, but no. (FYI 1727 has a fixer house on it, and there could be value in the structure, whereas 1721 really could only be land value.) So here's your new land-value basis for 7500 sq. ft. lots in East MB.
- 1321 Voorhees is new construction on a smallish 5244 sq. ft. lot that was so impressive in its artistry, that the $2.795M asking price was no deterrent. We've already seen some high-2's, low-3's prices on new construction east of Sepulveda, but this was new due to the lot size. What does it say for homes with full-size lots? And what if those full-size lots are now trading at $1.4M+?
Just about the only skeptical note we've seen so far in buyer behavior is the relative slowness of buyers to snap up a few Tree Section listings. There's not a lot of inventory by any measure, but we wondered if there was a little hesitation developing as to current asking prices. We'll see.
Beyond those check-ins, it's time for one of our twice-monthly updates on Manhattan Beach real estate market activity, with updated spreadsheets on inventory and sales.
Here's our market update report from the period ending 2/15/15:
- 44 active listings as of 2/15/15 (+6 from 2/1)
- 35 SFRs (+7)
- 9 THs (-1)
See the inventory list as of 2/15 here, or see the MB Dashboard for up-to-the-minute data.
Active listings by region of Manhattan Beach in this report:
- Tree Section: 15 actives
- Sand Section: 14 actives
- Hill Section: 3 actives
- East MB: 12 actives
We're also providing a report on closed sales by region of MB.
Sales are organized by sub-region of Manhattan Beach.
Here's a link to the spreadsheet: "MB Pending/Sold as of 2/15/15."
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of July 19th, 2024 at 2:25am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.