If you could travel back in time, one choice you might want to make is to dial the date back to 2010 or so and buy some Manhattan Beach real estate.
We saw, for instance, how, with the market's recent upslope, it was possible now for the sellers of the ocean-view SFR at 3316 Crest to trade out of a 2010…
If you could travel back in time, one choice you might want to make is to dial the date back to 2010 or so and buy some Manhattan Beach real estate.
We saw, for instance, how, with the market's recent upslope, it was possible now for the sellers of the ocean-view SFR at 3316 Crest to trade out of a 2010 purchase for a tidy 28% markup.
In context, today, there's nothing outlandish about getting a 4br/4ba, 2100 sq. ft. remodel with killer ocean panoramas for $2.160M, as the buyers just did.
It's just that, 4 years ago, when it seemed buyers were more reluctant, the same property sold for $1.685M, or $475K less.
Or we can look at one of this week's new listings.
2812 Elm (4br/4ba, 2875 sq. ft.) has traded off and on over the past decade – three times, to be exact. In 2004, for $1.299M, and in 2010, as a short sale, for $1.320M.
A short sale will often look like a good get in the rear-view mirror, and this is no exception.
The new listing is up at $1.799M, and beyond a nice paint job, we're not sure that they've done much work to change the home from its 2010 condition. (More on that after we tour.)
A sale at that price in today's market sure looks doable, and the markup from 2010 to 2014 would be 36%, at full price.
The sale price this year also seems likely to eclipse the previous bubble-infused price of $1.584M from 2005.
There were 390 residential real estate sales in Manhattan Beach in 2010. (Not bad for a somewhat down year.) There must be a few more from that mix ready to cash in here in 2014.
For the moment, the biggest resale from 2010 to present seems to be 1312 Walnut (3br/3ba, 2100 sq. ft.), which spun heads last May at a sale price of $1.760M. Purchase price in 2010: $1.250M.
They did some work, and got a 41% markup last year.
Top that, 2014.
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 27th, 2024 at 9:50am 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.