At this time last year, Manhattan Beach had 109 homes on the market, but the pace of sales was still blistering. (See "MB Market Update for 11/15/20.")
There was no November slowdown. There were 21 new deals posted in the first half of Nov. 2020, with 3 of the pending sales at the time being listings by our…
At this time last year, Manhattan Beach had 109 homes on the market, but the pace of sales was still blistering. (See "MB Market Update for 11/15/20.")
There was no November slowdown. There were 21 new deals posted in the first half of Nov. 2020, with 3 of the pending sales at the time being listings by our Edge Real Estate Agency.
This year, there are contrasts. We're at just 47 listings citywide, and the first half of November was calmer and somewhat more normal, at 13 new deals. (Equal to or better than several years prior to 2020.)
Edge does have a few escrows brewing, and we've closed several sales in recent weeks.
One was a very nice one, 124 21st Place (3br/4ba, 1940 sqft.), a half-lot, single-family custom modern in the Sand Section, just a few steps up from the beach.
The purchase was a good outcome of a process. With the clients, we first identified basic goals and targets, talked about potential timing in the market, then asked the clients to be patient as to finding the right opportunities. We informally pursued a couple properties, made a serious run at another and then went all-in for 124 21st Place amid competing offers.
It was definitely the right fit, and frankly a better property upon close inspection than even a great first impression had conveyed.
With the competition, we still closed at essentially the last asking price: $3.774M (after a start at $4.000M).
Among some other highlights in recent sales:
1540 1st (5br/6ba, 4525 sqft.) at $4.650M. Just another huge, newer East MB house hitting a big number.
1236 6th (3br/3ba, 2277 sqft.) at $2.800M - a recent record for East MB PPSF for a home over 2000 sqft., with the $1,230/PSF here edging out the recent sale at 1822 8th (3br/2ba, 2045 sqft., $2.485M and $1,215/PSF). Understandable because the better-located 6th St. home also had some very emotional appeal, with a high-end remodel and spacious, private backyard.
664 35th (4br/2ba, 1750 sqft.), a modestly upgraded cottage on an attractive street-to-alley lot (5400 sqft.), which sold for $2.226M (+$26K).
Here's the rest of our local real estate market update report for the period ending 11/15/21:
> 47active listings as of 11/15/21 (+1 from 10/31/21)
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 16th, 2024 at 5:25pm 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.