More than a third of the Manhattan Beach real estate market is made up of homes priced above $4 million.
In fact, it's 36%.
They come to market just a couple at a time.
Last week, there were 2 (712 Pacific and 659 18th, pictured).
The couple of weeks before, 3 more.
And so on.
Consider the…
More than a third of the Manhattan Beach real estate market is made up of homes priced above $4 million.
In fact, it's 36%.
They come to market just a couple at a time.
Last week, there were 2 (712 Pacific and 659 18th, pictured).
The couple of weeks before, 3 more.
And so on.
Consider the cluster of new listings last week in the $2.7-$2.9M range, which is a relative sweet spot in this market. Not a lot of listings in that price range tend to hang around.
Pricier listings tend to stretch out, gaining more DOM as they work to find a buyer. It's not unusual to find a $4M+ listing with 2-3 months on market, or even 200+ days. (See the list below.)
OK, so it takes longer to sell a top-tier listing. That's just important to know whether you are a buyer or seller in that price tier. But how unusual is the mix of 36% now over $4M?
One measure is to look at sales totals.
In 2018, just 15% of sold listings were priced at $4M and above.
In 2017, it was 17% of solds over $4M.
Back in 2016, only 9% of solds were priced over $4M.
To be fair, the proper, like-to-like comparison of current inventory against prior years would be to inventory in prior years, not closed sales. Give these $4M+ homes a chance to find their buyers, or not.
But that phrase we've heard, that the market is getting a bit "top-heavy" with higher-end listings, does make some sense in light of the data we see now.
Below is a display of all local listings priced over $4M. At the time of this post, it's 44 active listings. Email subscribers will need to view this post online to see all the homes.
Homes for Sale in Manhattan Beach Priced $4M and Above
No matching listings right now.
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 March 18th, 2024 at 9:48pm 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.