It's time for one of our twice-monthly updates on Manhattan Beach real estate market activity, with updated spreadsheets on inventory and sales.
This was one of the busiest periods of our 'Spring' season so far, with a rush of new listings outpacing sales enough so that we're now +10 on inventory compared to…
It's time for one of our twice-monthly updates on Manhattan Beach real estate market activity, with updated spreadsheets on inventory and sales.
This was one of the busiest periods of our 'Spring' season so far, with a rush of new listings outpacing sales enough so that we're now +10 on inventory compared to March 1. Haha, now, 52 active listings is no glut, but at least we are seeing more choices.
Even as the market rolls, we saw 2 notable quitters and several price cuts here in the heart of Spring. What does that say to you?
640 30th (5br/5ba, 3450 sq. ft.) is a glamorous Mediterranean complete with 'Grecian styled' master bath.
Alas, it's heavy on that style in an area that's more informal and beachy.
They launched at $2.800M and chopped to $2.675M, but it was not to be. Cancelled in the 6th week.
3005 Maple (5br/4ba, 3120 sq. ft.) is a 1990-built modern Spanish that got a major remodel in 2013. That, it needed, because when we saw this property last in 2011, it was tired and its quirks stood out.
The re-do was impressive, with a sparkling new kitchen, nice wide-plank, dark-stained floors and very nice stone on the fireplaces. The home has a warm, serious feel to it now.
By launching in early December (really?), maybe the sellers were trying to get the benefit of being alone in the market, but the $2.940M start price was way out of line – no benefit to that. DOM accumulated and chops were made (down to $2.699M), but this one stalled out and quit in its third month.
This was also a period with lots of chopping.
Significant price cuts also came in this 2-week span at:
3300 Ocean (3br/4ba, 2000 sq. ft.), an impressive redone TH with unmatched views, cut $101K to $4.249M.
2216 Grandview (2br/1ba, 850 sq. ft., 3350 sqft. lot) chopped almost $150K to $2.349M, a quick correction after 2 weeks on market.
915 Boundary Place (2br/1ba, 850 sq. ft.) cut $100K to $1.699M.
3413 Elm (4br/4ba, 3400 sq. ft.) cut $100K after falling out of escrow; it's now at $2.199M and finishing its 7th week on market.
3613 Walnut (4br/4ba, 3545 sq. ft.) to $2.499M, down from $2.699M. This impressive flipper remodel could become a bargain for someone, but the seller's patient. It's at 92 DOM as we write.
225 36th (1br/1ba, 725 sq. ft., 1350 sqft. lot) chopped $101K to $1.549M after seeing the first escrow flop.
Here's the balance of our market update report from the period ending 3/15/15:
- 52 active listings as of 3/1/15 (+10 from 3/1)
- 46 SFRs (+14)
- 6 THs (-4)
See the inventory list as of 3/15/15 here, or see the MB Dashboard for up-to-the-minute data.
Active listings by region of Manhattan Beach in this report:
- Tree Section: 13 actives
- Sand Section: 18 actives
- Hill Section: 5 actives
- East MB: 16 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 3/15/15."
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.