All Blog Entries by Dave Fratello

There are currently 1,987 blog entries published by Dave Fratello.

We have started to see the cost of a 3BR home in the Tree Section rise along with the rest of the market.

As land values creep into the $1.3-$1.7M range (or higher!), depending on lot size and location, you can really put a pretty penny into buying an actual, habitable house on one of those plots.

Here we take a look at the distribution of sales prices for 3BR homes in the Tree Section, and how the mix of prices paid has shifted far to the upper end. Our first chart compares just 2 years, 2010 (full year) and 2014 (year to date).

So here you see that in 2010, a 3BR house in the Trees was pretty likely to trade under $1.2M. Fully two-thirds of the sales that year were in those 2 lowest tiers.

Fast forward to the current moment, and in almost 7 months…

It's mid-Summer already, and time for one of our MB Market Updates.

We do two market updates a month, at mid-month and end of month. Data for these reports closed 7/15/14.

With Summer in full swing, you may enjoy a guide to "6 Delicious Ways to Beat the Heat in Manhattan Beach" from the new local-news site DigMB.com. Check it out.

Here's the quick overview on active inventory (click here for the list as of 7/15):

  • 61 active listings as of 7/15/14 (+4 from 7/1/14)
  • 55 SFRs
  • 6 THs

See the MB Dashboard for up-to-the-minute data.

This is a dip in inventory year-over-year, from 70 actives as of 7/15/13.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 8 actives
  • Sand Section: 19 actives
  • Hill Section: 6 actives
  • East

If you think back to early 2012, it wasn't so long ago, really.

But that was probably the beginning of the current rally in Manhattan Beach real estate, with prices now riding a "rocket to the moon," as we said in a recent post. (See "MB Median Prices Tilt Way Up.") Today, the world looks quite a bit different.

One of the first homes to sell in our real estate "Spring" that year (our Spring market begins around Feb. 1) was 1305 8th (6br/4ba, 4100 sq. ft.).

It listed for $1.725M, and we recall thinking something like "nice place, cosmetic fixer, but is that kind of rich?" It sold almost immediately for only a little less: $1.710M.

That sale seems now to have been one of the first signs of the market to come: Solidifying, more confident, with prices…

You could be forgiven for not noticing the old Spanish at 10th/Highland downtown.

921 Highland is a 1930s original on a double lot (5400 sq. ft.).

If you were to rewind time a bit (which is hard), we'd hazard that the big house was once all but alone on the stretch of Highland near Center Street and the pier. There are stories, to be sure.

Now, though, the question turns to what to do on the site. Someone has just paid $5.400M for the home, and we're not really thinking it's because they're preservationists.

A double lot with ocean views on a walkstreet right in the thick of MB's now-bustling core should probably have a lot of new stuff on it that reflects what MB is today.

You could built one heckuva single-family home, something you could even call…