sales data

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It took a while for MB median prices to start to track what seemed to be happening in the market.

No more.

Take a look at our newest compilations of data as of the midpoint of this year.

Citywide, the median price for single-family homes (SFRs) is $1.803M, up 12% year-over-year. That's a quick, cool $200K bump in no time at all. (Please note: We have excluded townhomes traditionally from our median price calculations for a few reasons; now, to compare year to year data, we continue to focus only on SFR data.)

Look at that trendline. It's a rocket to the moon.

There was an anomalous dip in the 2012 median to $1.432M, even as the market was recovering solidly at the time. From there, it's two years of big climbs – a 26% jump in only 24 months.

Word to…

West of Sepulveda in Manhattan Beach, within the Tree Section, there are really 4 quadrants.

One of the best of these suburban quadrants is north of Valley and west of Pacific Ave., all the way to the sand dune.

In the 500-700 blocks, you have a close-knit community that's a quick walk to Grand View school, with a nice off-the-beaten-bath feel to it. Legions of kids seem to be out all the time. It's easy for potential buyers to say, "Oh yeah, that's what we're looking for."

One of these streets has seen more than its share of head-spinning sales recently: 26th St.

Start with the newest: 724 26th (5br/3ba, 3400 sq. ft.).

There's no doubting the appeal – big house, bigger-than-normal lot (5125 sq. ft.) with a fairly big, sunny, south-facing yard. A…

Another recent sale shows the value of buying on the dip. When/if that comes again.

512 12th (3br/3ba, 2300 sq. ft.) is a unique remodel right near downtown with the very nice feature of a large back deck for true indoor/outdoor living off the common areas upstairs.

The 1950s original was rebuilt completely in 2007 to add square footage and create that deck.

After all that work, they sold just two years later into the worst market we've seen since Y2K. In 2009, 512 12th sold for $1.605M.

Those 2009 buyers restyled the place but didn't change much – new carpet, custom paint, etc.

They held it 5 years and brought it to market this April seeking a tidy $500K profit. List price: $2.100M.

But that was only the beginning. The rush was on.

Closed sale…

It's time for one of our MB Market Updates. We do two updates a month, at mid-month and end of month. Data for these reports closed 5/31/14.

Here's the quick overview on active inventory (click here for the list as of 5/31):

  • 56 active listings as of 5/31/14 (-4 from 5/15/14)
  • 46 SFRs (-6)
  • 10 THs (+2)

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

You will note that inventory has dropped here, and on a year-over year basis, we're now below 2013. The red line crossed the green.

This ends a 10-week run in which 2014 had seen greater inventory than last year.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 10 actives (-9 from 5/31/14)
  • Sand Section: 14 actives (+2)
  • Hill Section: 8 actives (-2)
  • East MB: 24 actives…