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        <title>MB Confidential</title>
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        <description>Manhattan Beach Real Estate Blog with Market Data and Expert Analysis, News, Opinion, Listing Reviews and Open Houses. By Dave Fratello, Manhattan Beach Broker with Edge Real Estate Agency.
</description>
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    <guid>https://www.mbconfidential.com/blog/three-east-mb-new-homes-ask-5m.html</guid>
    <link>https://www.mbconfidential.com/blog/three-east-mb-new-homes-ask-5m.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Three East MB New Homes Ask $5M</title>
    <description> <![CDATA[ 
As you read this, you are among the few to have been alive to see East Manhattan Beach transform into a district where spec builders were willing to build luxury homes.


Now they're doing it, and they're asking $5 million.


Which ones?


All three new homes currently on the market:


1535 Nelson (5br/6ba, 4750 sqft.) at $4.999M - Listed by Joseph Nuzzolo, Thompson Team Real Estate, Inc. | 310-922-2229 


1300 11th (5br/5ba, 4007 sqft.) at $4.995M (still under construction) - Listed by Jay Harkenrider, Riddle &amp; Ross, Inc. 


1560 1st (6br/6ba, 4650 sqft.) at $4.999M - Listed by Joseph Nuzzolo, Thompson Team Real Estate, Inc. | 310-922-2229 


-------------------------


Quick fact check: Two of those are asking $4,999,999, one dollar shy of $5M, and one is $5K short of $5M, but we're taking a little liberty by calling those prices $5M. Thanks for bearing with us.


-------------------------


So, $5M. Can it be done?


It's been done. Twice.


Most recently at 1618 11th (7br/7ba, 5007 sqft.) at $5.475M (Feb. '22). (It was listed by Kristen Novoa of Vista Sotheby’s International Realty.)


That one kinda snuck up on us early this year, with the sale having been arranged pre-completion.


The record-holding $5M+ sale for East Manhattan - on a standard lot - is 1757 8th (6br/7ba, 5738 sqft.) at $5.600M (June '21). (It was listed by Bryn Stroyke of Bayside.)


It's worth noting that the 11th St. property is only 2 levels, somehow squeezing 5000+ sqft. of interior space onto a standard 7500 sqft. lot without adding a basement.


So perhaps the real question is whether anyone else can get $5M, or nearly that, today.


Among the new homes currently listed, all are 2 levels, ranging in size from just about 4000 sqft. up toward 4750.


1535 Nelson actually aimed higher to begin, starting at $5.499M in June.


As these images show, it's got an improbably busy and entertaining backyard, with pool/hot tub, cabana, built-in barbecue and - yes - pizza oven. The pool is actually raised a bit with &quot;infinity&quot; edges near the family room which create something of a &quot;waterfall&quot; effect as well. Someone's showin' off


Meantime, 1560 1st is set differently, with a wide, rather than deep, 7500 sqft. lot. This allows for a sprawling first floor, with rooms way over here on the left, and way over there on the right, but not going back quite as far. There's less backyard space overall, with more outdoor space used for the wide front setback.


The newest to the mix is 1300 11th, on the corner at Meadows. The corner lot is officially just over 7800 sqft., appearing to be just a bit wider than the standard 50' you would expect.


The main living areas feel improbably large, with high ceilings in all the main areas and a 2-story light well rising from the open dining area. Even with an outdoor room (with fireplace), the backyard appears more than adequate for both a pool and some grassy area.


If you want big, nice and new in East Manhattan, these are your 3 current choices.


Pricing for new homes in East MB has evolved steadily over recent years.


It was way back in October 2019 that we were able to note that the once-unthinkable threshold of $4M had been hit and exceeded for a few new-construction homes for the first time. They were all Summer 2019 sales:


1320 9th (6br/7ba, 4900 sqft.) at $4.250M in June, then


1643 8th (5br/6ba, 4835 sqft.) at $4.150M in July, and


1755 8th (5br/8ba, 4835 sqft.) at $4.465M one week later in July.


$4 million seemed like a big hurdle to cross at the time.


There have been 9 more $4M+ sales of new construction since then, including those 2 properties over $5M we referenced above.


If any of the current listings asking $5M want to join the top ranks, they'll be targeting the highest among those sales that didn't get over $5M. That was 1515 Gates (5br/7ba, 6570 sqft.), an enormous modern, which got $4.962M in April 2021.
 ]]> </description>
    <pubDate>Tue, 30 Aug 2022 19:00:00 -0700</pubDate>
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    <guid>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-827-82822.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-827-82822.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach New Listings (8/27-8/28/22)</title>
    <description> <![CDATA[ 
If you were around most of the Summer (guilty), you could feel the change this week as everyone returned to Manhattan Beach, schools started up and our community began to have a bit more of a buzz. Welcome back


There are just a few new listings this week, but for the first time this year, it seems that buyers have multiple options in East Manhattan. It's a good time to comparison shop. We think you'll love the new look at 1170 Shelley (Dave's listing), for instance.


Open house times are listed below, but you can also click &quot;Open Houses&quot; at the top of our site, which displays all the Manhattan Beach open houses. There are also links right at the top to Hermosa Beach and Redondo Beach opens.


----------------------------------------


PLEASE NOTE: Below, we present listings new to the Manhattan Beach market this week, via the MLS. They are listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent unless so stated with the listing. (As with the first one, 1170 Shelley.) Excerpts of the listing agent's description of each property are provided in quotes.


Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


----------------------------------------


East Manhattan Beach


1170 Shelley Street  (4br/3ba, 1858 sqft.) is Dave's and Edge's listing on a quiet, private street.


It has a new look and new price, as we repainted, refreshed and renewed the property for this presentation. We felt some real excitement at the Friday brokers' open, including from some agents who had seen the home before.


Simply put, this home is straightforward and ready to go.


From the official description: 


&quot;Fully remodeled Manhattan Beach home with great single-level floorplan, sizable primary suite and ample outdoor living space. It’s the good life, elegantly simple. Four bedrooms, updated kitchen and baths, with bright, open living spaces. Warm, bamboo flooring throughout.&quot;


&quot;Kitchen features all Bosch appliances, Caesar stone counters and oversized stainless steel sink. Your primary suite is extra spacious, with both a walk-in closet and wall closet, each with custom built-ins. Two sizable secondary bedrooms share a hallway bath. A fourth bedroom can be a den, office or guest room, and it's got a bath, too, adding flexibility to the floorplan. The home's sunny, south-facing backyard makes for attractive outdoor living, with both decking and artificial turf.&quot;


&quot;Newer stucco and recently redone, reflective roof. Drought-tolerant landscaping both front and back. And what a lifestyle You may be surprised by how much is within a short walking distance: coffee, wine, restaurants, schools, gym, Lazy Acres and more. Compare to other East Manhattan Beach homes by location and price per square foot: This one's a winner&quot;


Click here for the Virtual Tour (3D).


1170 Shelley Street begins at $2.349M and is open Sat. 2-4pm &amp; Sun. 1-4pm.


1170 Shelley Street is Listed by Dave Fratello, Edge | dave@edge-rea.com 


114 S Herrin Avenue (3br/2ba, 1601 sqft.) is a remodeled 1-story SFR just one block east of both the local elementary school and the high school.


We know many buyers will look at Herrin as well as our Edge listing at 1170 Shelley, and encourage the comparison, but we'll limit comment on this one to be as fair as possible.


From the official description: 


&quot;Welcome to your completely remodeled home on one of the quietest streets in East Manhattan Beach. This 3 bed/2 bath home has European white oak wide-plank floors throughout and is an entertainer's dream with true indoor/outdoor living. West facing, the natural light pours through the house. The entryway leads to the living room with stunning high trussed exposed wood beam ceilings. Past the Chef's kitchen with all stainless steel appliances and Caesarstone quartz counters leads to the master suite with vaulted ceilings and french doors that open to the patio - plus two additional bedrooms. The outdoor designer patio and landscaping has a custom pour-in-place couch, fire pit and ipe floating bench dining table. Every corner and detail was thought out in this move-in-ready home.&quot;


114 S Herrin Avenue begins at $2.099M and is open Sat. 1-4pm.


114 S Herrin Avenue is Listed by Tim Mullin, Compass. 


Sand Section


204 38th Street (3br/2ba, 1041 sqft.) is an interesting case, a smallish El Porto classic cottage that already sold this year but is back.


The prior sale closed in May for $2.200M, but it's back now $99K higher.


It's buttoned up and cute, but also very artfully presented, especially by comparison to prior listings. A little imaginative design can go a long way. Check out all the pics.


From the official description: 


&quot;Location, location, location This charming 3-bed 2-bath beach house with ocean views is situated just steps from the sand. After entering through the turquoise Dutch door from the private front porch, you are greeted with breathtaking ocean views in the open living room which features newly updated hardwood flooring throughout and an abundance of natural light.&quot;


&quot;The kitchen is adjacent with a separate dining nook. Two bedrooms flank the main hallway and share a large full bathroom. The third bedroom is located on the lower level with its own bathroom and laundry area. The home features tasteful updates throughout including custom shiplap, light fixtures, electric car charger, electrical updates, and more. An oversized storage room off the attached garage provides plenty of room for beach gear, bikes, and more. Located walking distance to restaurants, retail, and the Pier – this idyllic beach home provides access to all that Manhattan Beach has to offer.&quot;


204 38th Street begins at $2.299M and is open Sun. 2-4pm.


204 38th Street is Listed by John Corrales, Compass.


Hill Section


219 N Dianthus Street (4br/4ba, 3300 sqft.) asks: How much would you like to have your whole common area enjoy a dramatic, wide, forever ocean view?


If we say that, you're going to want to see more.


This is in a small portion of the Hill Section where &quot;tall and skinny&quot; homes prevail. In this case, the lot is 26' wide and a total of 3352 sqft. But the home's 3 levels allows ample living space spread around, even a little backyard.


The home officially sports a 1950s build date but obviously has been added onto and remodeled since.


From the official description: 


&quot;One of a kind view property in the prestigious Hill Section of Manhattan Beach. This home has it all—with Sand Section views, Hill Section location and Tree Section pricing Once you set eyes on the panoramic ocean views which include Catalina, Palos Verdes and Point Dume, you won’t want to leave. Then, the warm and inviting floor plan, flooded with natural light, will further convince you to stay. Upstairs, open to the ocean views, is the expansive kitchen great room with breakfast bar, dining room and family room out to a large deck. In front is the home office/den with high ceilings, two french doors that allow sun to stream in, and another patio retreat for lounging. This home has four bedrooms and a bonus/game room along with 3.5 bathrooms. The primary suite is generous with a walk in and additional closet, a small balcony and spa like bathroom that has a separate shower and jacuzzi tub. The bonus room steps out to the back yard with artificial grass and complete privacy from the neighbors. Recent upgrades include wide plank oak floors in the bedrooms, glass/wood panels on the stairs, glass panels on the deck, new fencing and custom paint inside and out.&quot;


219 N Dianthus Street begins at $4.300M and is open Sat. &amp; Sun. 1-4pm.


219 N Dianthus Street is Listed by Lauren Forbes, Compass.


 
 ]]> </description>
    <pubDate>Sat, 27 Aug 2022 08:40:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-820-82122.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-820-82122.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach New Listings (8/20-8/21/22)</title>
    <description> <![CDATA[ 
Traditionally, they hold the AVP in town and the real estate market sits it out.


It's late Summer, the quiet before the (potential) storm in new listings, as we prepare for a relatively busy September-October selling season.


Only 4 new listings came to market this week, but one immediately went on &quot;hold&quot; so we can't link to it. That leaves just 3 below, but there are more listings holding open.


Interested in the AVP Manhattan Beach Open? Our sister site, MB News, has a rundown on Day 1 of play here. For more photos and updates, continue checking MB News.


Open house times are listed below, but you can also click &quot;Open Houses&quot; at the top of our site, which displays all the Manhattan Beach open houses. There are also links right at the top to Hermosa Beach and Redondo Beach opens.


----------------------------------------


PLEASE NOTE: Below, we present listings new to the Manhattan Beach market this week, via the MLS. They are listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent unless so stated with the listing. Excerpts of the listing agent's description of each property are provided in quotes.


Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


----------------------------------------


Tree Section


2317 Pine Avenue (4br/3ba, 2613 sqft.) is more of a midsized Tree Section remodel, with a fun bonus basement level room outfitted partly as a wine cellar, also shown as an office.


(If you write wine reviews for a living, this is your dream office.)


The building sports a 1960s build date, but obviously has been added onto over the years, looking more like an early-2000s house at this point.


From the official description: 


&quot;This beautifully updated home is exactly what you're looking for ... From the welcoming entry, gathering spaces open before you with a seamless floor from the living room to the bright kitchen and over-sized Great Room with custom built-ins and a fireplace. From there, walk out the back doors and down the winding staircase to enjoy the lovely garden with custom stone, fireplace, BBQ, and artificial turf...making it perfect for entertaining. There are 4 bedrooms and 3 baths throughout this 2-story home, including a main level bedroom ideal for guests, in-laws, office, or playroom. A separate finished basement space with wine cellar (approximately 500 square feet not included in the square footage of home) and private entry from the backyard, is ideal for a gym, office, or man cave.&quot;


Click here for the Virtual Tour (Slideshow).


2317 Pine Avenue begins at $3.499M and is open Sat. &amp; Sun. 2-4pm.


2317 Pine Avenue is Listed by Denise Arredondo Epeneter, Silver King Brokers.


East Manhattan Beach


1191 Tennyson Street (3br/2ba, 1518 sqft.) is a 1950s cottage in the Poets section, just up from the Mira Costa playing fields.


From the official description: 


&quot;[U]nique opportunity on a quiet block of the highly desirable Poets Section in East Manhattan Beach. This charming single-level home features three bedrooms and two bathrooms in a bright and open living space with fireplace, newer AC and hardwood floors through out. The beautifully landscaped and sunny back yard provides privacy with mature hedges, and is perfect for outdoor living and entertaining with the balance of drought-friendly turf, and hardscape area. This lovely home offers the Manhattan Beach lifestyle and is ideally located and within walking distance of top awarding winning schools, shopping, restaurants and the beach.&quot;


1191 Tennyson Street begins at $1.899M.


1191 Tennyson Street is Listed by Lynn Range, Vista Sotheby’s International Realty.


6 Cambridge (3br/2ba, 2080 sqft.) is one of the most original SFRs in Manhattan Village, literally a model home from when the area was first being developed in the early 1980s.


This is also one of the rare and much-desired Plan 1 single-level homes. It's still held by the original owner, and other than an early-2000s kitchen update, largely original overall. 


The last single-level unit like this to sell came more than 4 years ago, in Jan. 2018, when 9 Westport sold for $2.270M.


This one starts now just a tick higher, but you don't use 4-year-old comps. The market is going to have to make up its mind all by itself on this one.


From the official description: 


&quot;Welcome Home A highly sought after single-level Estate Home in coveted Manhattan Village can finally be yours ... [T]his floorplan is hard to beat and has been lovingly kept by the original owner for 40 years. Located on a quiet cul-de-sac in an A+ location, you are just steps away from one of the community pools &amp; spa. Or how about enjoying a cup of morning coffee and tranquil East facing views from your back yard gazebo?. This home sits up high on the lot, so you feel secluded, yet are secure in knowing the complex has 24 hour gated entry, and is the only true 'gated community' in the local area. Near top notch shopping such as The Pointe, downtown Manhattan Beach, the newly refurbished Manhattan Village Mall, Westdrift Hotel and golf course...&quot;


Click here for the Virtual Tour (Video).


6 Cambridge begins at $2.500M and is open Sat. 12-4pm.


6 Cambridge is listed by Susan Boettner, Vista Sotheby’s International Realty
 ]]> </description>
    <pubDate>Sat, 20 Aug 2022 11:37:00 -0700</pubDate>
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<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-market-update-for-81522.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-market-update-for-81522.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach Market Update for 8/15/22</title>
    <description> <![CDATA[ 
As Summer winds down and kids get ready to go back to school, we're seeing closings all over town among the early-Summer sales. 


In our market updates, we like to take a look at notable sales from the period, so here we go, after a disclaimer.


----------------------------------------


PLEASE NOTE: Below, we discuss listings from the Manhattan Beach market, listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent or buyer's agent unless so stated with the listing. Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


----------------------------------------


2613 Vista (3br/2ba, 1836 sqft.) is a charming 1960s 2-story SFR on a half lot that's also 1836 sqft., just like the building. (We checked tax records.) 


Funny, how often does a home have the same amount of interior square footage as the lot size? Discuss.


The home benefits from strategically important updates like kitchen and baths, and showed with splendor and style thanks to playful decor.


The listing advertised ocean views, but more on that in a moment. (Note: 2613 Vista was listed by Jennifer Merritt of Vista Sotheby's International Realty.)


Asking $2.599M in late June, this one was under contract within 6 days for more.


Closed price: $2.700M.


Now, about those ocean views. This could become a sore subject.


The front neighbor is 2612 Alma (3br/2ba, 1233 sqft.).


Though featuring a smaller lot (1670 sqft.), this home is on the &quot;front row&quot; along Alma, with potential for ocean views that cannot be blocked (especially down a nearby alley).


2612 Alma sold in May for $2.600M. (Note: The home was listed by Don Ruane of Real Estate West, Inc.)


Fully built to 3 stories, this one would likely eliminate views from 2613 Vista. Fortunately, the buyer for the back home had the benefit of knowing the situation for the front property by the time they bought 2613.


Less fortunately, an Oct. 2021 sale of an affected neighboring property at 2617 Vista likely could not have included such knowledge.


2617 Vista (4br/4ba, 2810 sqft.) is a truly marvelous rear-unit 2018-built townhome that traded for $5.000M in Oct. 2021, and is now on the market again, currently asking less, $4.699M. (Note: Currently listed by June Emerson, Vista Sotheby’s International Realty.)


2617 currently enjoys nice ocean views, but the risk to those views appears to have emerged remarkably soon after acquisition. A warning of sorts.


Reminds us of a part of the new listing for 3203 Crest (5br/5ba, 3178 sqft.), a newer, rear, half-lot home with current ocean views. (Listed by Daniel O'Connor, Pacifica Properties Group, Inc.)


As we noted in our new-listings post, the description for Crest says: &quot;Property located to the West has a height restriction easement which may provide protected ocean views.&quot;


That's nice to have, if you can get it.


Over in the Tree Section, the upgraded, ultra-custom 90s modern at 2311 Palm (4br/4ba, 3588 sqft.) closed in this period. (Listed by Robb Stroyke of Bayside.)


No question, the home was inspiring but also a bit quirky.


Its location, on one of the prettiest 2-block stretches in the Tree Section, was inspiring but not quirky.


When Palm came out, it was pretty much alone at the price point ($3.995M asking), and it drew all the attention, getting bid up.


Closed price: $4.350M.


That overbid somewhat beat a little recent trend, with 6 of the prior 9 sales in the Trees taking less than asking.


Over on the East side, we'll make a stop in Manhattan Village.


We're looking at 7 Laguna Court (3br/3ba, 1876 sqft.), which has just closed for $1.725M. (It was listed by Tony Puma of Palm Realty Boutique, Inc.)


That final price was down from the last asking of $1.750M, and quite a bit down from the $1.999M start price in early June.


As we noted in a recent blog roundup of listings in Manhattan Village, the most recent Plan 3 unit to sell was 29 Marin Ct. (3br/3ba, 1876 sqft.) in April at $1.800M. (Listed by Cindy Kawata of RE/MAX Estate Properties.)


While updated in large part, Marin's baths still had some  original features (tub/shower combos), and was less updated in a few other ways that Laguna. So the arguably superior unit has now sold for less.


Both these sales are a step down from the $1.925M paid for 28 Bermuda Ct. in November 2021 (another Plan 3, this one listed by Steve Legare of West Shores Realty, Inc.).


That one on Bermuda had just been spectacularly, fully remodeled, and seems to remain the high water mark for Plan 3 units.


Here's the rest of our local real estate market update report for the period ending 8/15/22:


&gt; 63 active listings as of 8/15/22 (flat from 7/31/22) 


&gt; 54 SFRs (-1)


&gt; 9 THs (+1)


See the Inventory list as of 8/15/22 here, or see the MB Dashboard for up-to-the-minute data.


Active listings by region of Manhattan Beach in this report:


&gt; Tree Section: 14 actives (flat)


&gt; Sand Section: 25 actives (+2)


&gt; Hill Section: 16 actives (+2)


&gt; East MB: 8 (-4)


We're also providing a report on closed sales by region of MB


Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach.


Here's a link to the spreadsheet: &quot;MB Pending/Sold as of 8/15/22&quot;.
 ]]> </description>
    <pubDate>Tue, 16 Aug 2022 19:57:00 -0700</pubDate>
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<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-813-81422.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-813-81422.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach New Listings (8/13-8/14/22)</title>
    <description> <![CDATA[ 
Hoo boy, the Hill Section. We can go weeks without a new listing, there might only be 20 sales all year, and then one day: Boom


There are suddenly 3 new listings in the Hill Section totaling $38.6M in asking prices. One (featured first below) is brand new and wide open for open houses all weekend, so check that out.


Open house times are listed below, but you can also click &quot;Open Houses&quot; at the top of our site, which displays all the Manhattan Beach open houses. There are also links right at the top to Hermosa Beach and Redondo Beach opens.


----------------------------------------


PLEASE NOTE: Below, we present listings new to the Manhattan Beach market this week, via the MLS. They are listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent unless so stated with the listing. Excerpts of the listing agent's description of each property are provided in quotes.


Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


----------------------------------------


Hill Section


319 S Dianthus Street (5br/7ba, 5685 sqft.) is new construction with true 180-degree views from the top of the hill, the kind that people always say they want in the Hill Section. The whole wide-open top floor drinks it in.


Oh, and the rest is quite nice as well. (To understate it.) Check this one out for sure.


From the official description:


&quot;One of the finest homes ever built in Manhattan Beach, this unique masterpiece... is perched in the hill section and has panoramic ocean views from PV to Malibu. The ocean views are from all the main areas of the top and middle levels and the over 1,200 square feet of deck space This home and view must be experienced in person to be fully appreciated... [S]pectacular ocean views... elegant and inviting living, kitchen, dining and office areas, and a sensational fireplace. Step out on the expansive entertainment deck via the Fleetwood sliding door system and you will find yourself looking over the pool and on to the ocean view.&quot;


&quot;Attached to the deck is a floating staircase which can quickly ferry you down to the pool and spa with a sun deck, a barbeque island, and a sitting/dining area with a stunning custom fire pit The ocean view family room completely opens to the backyard and features a fireplace clad with the same natural stone which wraps around the tall exterior chimney. The primary suite also features a fireplace, in this case dressed with a gorgeous natural slab. Corner pocket doors slide completely out of the way, providing ocean views and seamless access to the pool/entertainment area. The primary bathroom features a heated floor, a steam shower, a Victoria &amp; Alberts tub, and elegant vanities finished in rift-cut white oak. All four other bedrooms show the same dedication to excellent material selection as the primary suite.&quot;


&quot;The lowest level is full of natural light and features a first-class bar, a 250-bottle climate-controlled wine cellar, a state-of-the-art 125” open theater with a Dolby Atmos system, a pool table/game area, and a gym/wellness area. The floor plan and every detail are wonderfully thought out, whether it’s for everyday family life, entertaining, or to just relax and enjoy the spectacular views. This may truly be your only opportunity to have this rare masterpiece which is like no other.&quot; 


319 S Dianthus Street begins at $12.999M and is open Sat. &amp; Sun. 1-4pm.


319 S Dianthus Street is Listed by Ray Joseph, Radius Agent Realty.


500 N Poinsettia Avenue (5br/8ba, 8389 sqft.) is at the top of 5th Street, somewhat closer to town than 319 Dianthus, a huge 2009 build with 3 levels.


From the official description:


&quot;Take this opportunity to preview a one-of-a-kind custom-built home in the Hill section of Manhattan Beach. Its vantage point sitting atop a “T” street with a 75ft (approx.) wide frontage and oversized lot affords this home breathtaking 180-degree views from Palos Verdes Peninsula to Malibu. Exquisite details abound in this elegant French-styled tri-level home, featuring imported materials and fine finishes that add an element of luxury and sophistication. The first level includes a billiards room with a coffered ceiling, wet bar, three TV’s, and a built-in humidor cabinet with a lighted cigar display. This level also includes a wine cellar with tasting room, a home theater, a guest bedroom, and access to a large garage that can accommodate up to 8 cars with an automated vehicle turntable for ease of parking...


&quot;The primary suite offers a split-level space with adjoining sitting room, two fireplaces, separate walk-in closets and a private outdoor terrace with a water fountain and gym room. This level also includes a laundry room, a computer alcove, and a family room that opens up to an outdoor pool deck surrounded by lush greenery with a heated, salt-water pool and fountain feature, a spa, outdoor shower, basketball half-court and outdoor fireplace. The upper floor of the home with beautifully drawn light throughout showcases grand-scale living spaces including the formal living room and upper family room, two fireplaces and outdoor decks with sensational sunset views of the ocean.&quot;


Click here for the Virtual Tour (Video).


500 N Poinsettia Avenue begins at $22.000M


500 N Poinsettia Avenue is Listed by Kristi Frey, Strand Hill Christies International Real Estate.


513 N Dianthus Street (3br/3ba, 2470 sqft.) is a &quot;tall and skinny&quot; in the Hill Section with nice city views.


It just traded in April this year for $3.200M, but has been renovated since.


From the official description:


&quot;This Manhattan Beach Stunner just underwent a recent high end design update - and no detail was spared This 2 story beach home features 3 bedrooms, 3 bathrooms and is nestled in the highly desirable Hill section of Manhattan Beach. With breathtaking panoramic views of Los Angeles that are particularly stunning at night with the city lights. This home has a breezy layout. Upon entry, you're welcomed by the home's chic living room, featuring a wet bar, with a built-in wine rack and wine refrigerator, floor to ceiling built-ins and a spacious balcony. The second floor is PERFECT for entertaining. The kitchen has top-notch Viking and Sub-zero appliances, tons of counter space and is naturally illuminated by our year-round SoCal sunshine. The second story living room features a built-in entertainment center, a sleek fireplace, a balcony complete with a built-in wolf BBQ, and nearly Panoramic views of downtown, neighborhood and mountains. It's breathtaking The bathrooms have all been renovated with a soothing theme: neutral colors, chic vanities, a wavy textured shower surround - gives us resort vibes.&quot;


513 N Dianthus Street begins at $3.600M and is open Sun. 11-3pm.


513 N Dianthus Street is Listed by Ben Ryan, Sundae Homes.


Tree Section


640 33rd Street (4br/3ba, 1710 sqft.) has an unusual vibe for MB, an architect's old project home with perhaps Asian modern/industrial influences. Superb location.


From the official description:


&quot;Amazing opportunity in the Tree Section of Manhattan Beach. First time on the market in more than 50 years. Designed and built by locally-renowned architect, John R. O’Donnell, Jr., this gem is located in a fantastic neighborhood in close proximity to shops, schools, Sand Dune Park and everything Manhattan Beach has to offer. Four bedrooms/three bathrooms, five lovely garden patios and an attached two-car garage in the rear, off of the alley. This home has been filled with love and joy and is ready for new owners to make their own or start from scratch.&quot;


Click here for the Virtual Tour (Slideshow).


640 33rd Street begins at $2.675M and is open Sun. 1-4pm.


640 33rd Street is Listed by Davina O'Donnell, Berkshire Hathaway HomeServices California Properties.


Sand Section


3203 Vista Drive (5br/4ba, 3178 sqft.) is a 3-year-old ultra custom build that maximizes a 1750 sqft. half lot.


The lower-level gym is dynamite, and the home packs in 5 bedrooms (including 2 on that lowest level).


Current ocean views from the top level are very good, although the neighborhood is dotted with many older homes... classics of our old beach town, if you will. They do state in the description that the one property directly west has some kind of deed restriction &quot;which may&quot; provide view protection for this house.


From the official description:


&quot;Exceptional upgrades fill this custom-built contemporary residence set just a few blocks from the Manhattan Beach Strand. It has been thoughtfully redesigned over the past two years... Quality touches of high ceilings, glass walls, white oak hardwoods, and multiple decks featuring some of the most breathtaking ocean views. The upper-level great room boasts unspeakable coastal views that can be enjoyed from every angle of the space. The gourmet kitchen showcases Neolith Calcutta countertops, high-end appliances, and guest seating at the large kitchen island. Pocket doors allow the entire upper level to open to the vast ocean, truly transforming the space for versatile indoor/outdoor living and positioned to maximize beautiful evening sunsets. Floating staircases or the 4-stop elevator lead you through the rest of the home... The lower-level entertainer’s suite provides versatility that will appeal to anyone. Use the additional space as a home theater, game room, or at-home gym... *Property located to the West has a height restriction easement which may provide protected ocean views.&quot;


3203 Vista Drive begins at $6.750M.


3203 Vista Drive is Listed by Daniel O'Connor, Pacifica Properties Group, Inc.


2605 Alma Avenue 2 (3br/3ba, 1216 sqft.) is a smallish standalone home that is technically a townhome due to a lot shared with the neighbor to the west. (An uncommon configuration.)


Last sold in Jan. 2021, this home recently got a 100 makeover, including a great re-imagining of the lower living room, now enjoying foldaway doors to the modest front patio.


You won't often see a PPSF of $2,400+ like here. Wow. But hey, it's all done.


From the official description:


&quot;It's all about location This luxurious townhouse has been tastefully remodeled and will please any buyer... [B]eautiful glass railing, natural hardwood floors, gorgeous stackable stone accented wall, recessed lighting, open floor plan and UV protected windows which you can open to get your cool ocean breeze. The chef in you is going to love this kitchen that opens to the living room and dining room to host your weekend guest or quiet evening dinner as you prepare your meals with high end a stainless-steel Wolf &amp; LG appliance. All 3 bedrooms are very generous in size. The En-suite featuring custom cabinets, beautiful cool tile finish and tasteful fixtures. The second bedroom is perfect for a gym or your weekend guest. The downstairs bedroom/family room features panoramic doors to give you the indoor-outdoor feeling as you relax and have a glass of wine from the impressive wine showcase.&quot;


2605 Alma Avenue 2 begins at $2.999M and is open Sat. &amp; Sun. 1-4pm.


2605 Alma Avenue 2 is Listed by Efi Demirchyan, Media West Realty,Inc.


400 10th Street (4br/3ba, 2964 sqft.) sports a mid-1980s build date but more of a classic, &quot;grandma's beach house&quot; vibe. This walkstreet is very close to downtown, and this home backs up to the 9th Place alley, not 10th Place by the market and other shops - in other words, the &quot;better&quot; side of 10th.


From the official description:


&quot;Beautiful two-story contemporary home nestled on one of the most sought-after walk streets. Centrally located to downtown and just steps away from the Strand, this charming home boasts several surprises including pegged whole oak flooring, new carpet in bedrooms, den, instant hot water, plantation shutters, 2 fire places, heart redwood beamed ceilings, two interior staircases, custom built-in shelving, alarm system, and updates throughout.&quot;


&quot;Upstairs kitchen contains a built-in Thermador range, new built-in refrigerator, granite countertops, microwave/oven combo with a cozy breakfast nook overlooking one of three decks. Spacious living room with marble fireplace opens out onto a quaint balcony with a peek-a-boo ocean view, of course perfect for entertaining. Primary suite and secondary bedroom or office located upstairs with a built-in wall AC for those rare, hot summer days. Jacuzzi tub sits in a newly-remodeled primary bathroom with a full double sink vanity and steam shower, and all bathrooms contain updated borderless glass showers. Front brick patio is surrounded by new landscaping perfect for barbecues and a little extra privacy. 2-car garage with extra parking in back and sensory lighting.&quot;


400 10th Street begins at $5.200M.


400 10th Street is Listed by Piper Moretti, eXp Realty of California Inc.
 ]]> </description>
    <pubDate>Sat, 13 Aug 2022 09:59:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/months-of-supply-trending-up-slightly.html</guid>
    <link>https://www.mbconfidential.com/blog/months-of-supply-trending-up-slightly.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Months of Supply Trending Up (Slightly) </title>
    <description> <![CDATA[ 
The market was moving so fast, with so little inventory, back in February this year, that we saw a recent record low for &quot;months of supply.&quot; (See our post from then, &quot;Months of Supply Craters at 15-Year Low.&quot;)


The measure &quot;months of supply&quot; takes into account the pace and number of homes going into escrow, and estimates how long it would take to sell every listing on the market.


Now, with a slight drop in the pace of new deals, and a gentle increase in inventory, we're seeing the arc reverse, and &quot;months of supply&quot; increasing.


It's all relative, though, as we'll show.


Our first chart here shows you a month-by-month snapshot of the data over 14 months, as the supply figure dipped to near-nothing at year-end 2021, then ran up through the end of July 2022.


Basically you are seeing the city's months of supply returning now to Spring 2021 levels.


Take a step back now to see these data in context.


Typically we smooth out the data by using a 6-month rolling average, instead of one-month data. So we've changed that in this chart.


And we're showing 10 full years plus 2022's data year-to-date.


The picture's different, isn't it?


The trend may be up, but the actual level for months of supply remains at a point so low it was only seen in the Spring selling season early in this cycle, 2013-15, before rising later in each of those years.


So we are still way, way below typical levels.


We have spoken a lot about inventory this year, as its lag has often posed problems in the market. Here's where inventory as of July 31 stood against recent years.


Right away, you can see we're at about the same levels as 2020 and 2021, as well as way back in hot-too-hot 2013-14.


But there were 5 years in the middle there near, or well over, 100 listings in Summer.


That period's inventory level is what we've more or less internalized as &quot;normal,&quot; and why today's figure still seems low. (The pandemic has played havoc with the local real estate market and expectations of &quot;normal,&quot; as you know.)


Here's one more chart, more or less merging the other presentations above. Here, we've isolated the end-of-July months-of-supply figure for the same period of time as we just showed inventory, 2013-22.


This is a way of showing what typical months of supply might be around this time of year. Once again, this underscores how we're still quite low now.


(That peak in 2020 is worth a comment. Despite the frenzy of home trading in July 2020, and the modest inventory level then, &quot;months of supply&quot; remained very high because of the 6-month averaging, which included months where the market was all but shut down.)


When you look at far bigger data sets than Manhattan Beach, such as California as a whole, or national data, months of supply right now is closer to 2.5 months.


The old-fashioned rule of thumb was that 6 months of supply signified a buyers' market, but it's more accepted today that 4 months of supply can mean a buyers' market, due to how the internet has sped the home search process and other aspects of real estate.


Hot tip: We're not getting anywhere near 4 months of supply here in MB unless we get a real influx of inventory for September/October's market.


------------------------------------


Nerdy notes:


Inventory data are compiled as part of MB Confidential's twice-monthly MB Market updates.


Months of supply data comes from the California Regional Multiple Listing Service, Inc., InfoSparks © 2022 ShowingTime.
 ]]> </description>
    <pubDate>Thu, 11 Aug 2022 19:17:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/are-price-cuts-a-thing-now.html</guid>
    <link>https://www.mbconfidential.com/blog/are-price-cuts-a-thing-now.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Are Price Cuts a Thing Now?</title>
    <description> <![CDATA[ 
Just like you, we get all kinds of email property updates from searches that we've set up in the past.


Manhattan Beach, of course. But also Redondo, Palos Verdes, even some inland areas (perish the thought).





It seems like this week, they're chock full of price cuts.


Cut, cut, cut, cut, new listing, cut, cut, cut, new, cut, cut.


But we're not really tracking Yorba Linda or PV here. This is a Manhattan Beach blog.


We checked, and the current 23 listings in Manhattan Beach with a price cut make up 36 of the inventory (63 listings).


In late July 2019, in a market that was clearly cooling, 49 of inventory had cuts.


In late July 2021, roughly one year ago, 34 of inventory had cuts. (See our &quot;Tale of Two Markets&quot; post from last year.)


So if we're at 36 of inventory with cuts today, that's not shocking, and not even at the level of a recently slow market.


In fact, the phenomenon of more cuts is pretty typical for Summer. While homes do sell during Summer, everything is often slower.


People are out doing other stuff, putting more sellers in a position of feeling that they need to mark down to attract buyers. (How are you going to get this woman to put down her book?)


The 36 figure, however, is a step up in price cuts from where the Manhattan Beach market stood, relatively speaking, in mid-June this year.


As we noted in our post, &quot;More Price Cuts Now?,&quot; the media were reporting generally that LA County and Orange County sellers were increasingly cutting prices, but we found that the year-over-year trend in Manhattan Beach was the opposite. We had fewer listings with cuts.


Now, we don't have a direct August 9th-to-August 9th comparison, but it looks like we're basically even year-over-year. We'll check in again on this topic at mid-month or end-of-month, when we can more readily make comparisons using our past MB Market Update spreadsheets.


----------------------------------------------


You can keep up to date with all the latest from the Manhattan Beach market, including new listings, sales and price cuts, on the MB Dashboard (click &quot;NOW&quot; at the top of the page any time).


Just below, reading this post online, you'll see a constantly updated, MLS list of all homes in Manhattan Beach with price cuts, newest cuts listed first.


Please Note: The properties below are listed and brokered by a variety of agents and firms, not Dave Fratello or Edge, unless noted. Click on any image for full details. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property.



 ]]> </description>
    <pubDate>Tue, 09 Aug 2022 19:25:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-86-8722.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-new-listings-86-8722.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Manhattan Beach New Listings (8/6-8/7/22)</title>
    <description> <![CDATA[ 
The market showed some life this week, with 10 new escrows in 6 days, on a mix of new listings and a couple that had been around.


In August?


Really. August.


This isn't always a time when you'd expect sellers to choose to list. But we see 9 more new offerings hitting the market this week, some exceptionally well-presented.


Open house times are listed below, but you can also click &quot;Open Houses&quot; at the top of our site, which displays all the Manhattan Beach open houses. There are also links right at the top to Hermosa Beach and Redondo Beach opens.


----------------------------------------


PLEASE NOTE: Below, we present listings new to the Manhattan Beach market this week, via the MLS. They are listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent unless so stated with the listing. Excerpts of the listing agent's description of each property are provided in quotes.


Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.


----------------------------------------


Tree Section


3112 Maple Avenue (5br/4ba, 3350 sqft.) is a 2005 home with a traditional Tree Section floorplan, including 2-story living room at the entry, a flexible bedroom/office on the first floor, formal dining and kitchen/great room in back.


While the original appears to have been well crafted, this home enjoys several important stylistic updates that make it easy on the eyes today.


From the official description:


&quot;This European Farmhouse Masterpiece... instantly makes you feel at home... The entry is flooded with natural light from skylights and layered windows with cathedral ceilings. The wide plank hickory pecan floors lead you to the top of the line custom kitchen featuring commercial grade appliances, inset cabinets by Coastal Cabinets, Currey &amp; Co. lighting fixtures, a farmhouse sink, walnut butcher block island, breakfast nook with built in storage benches and so much more The antique limestone flooring in the kitchen and family room were imported from France. The spacious backyard features an outdoor fireplace, turf w/drainage and lighting along the flagstone paths that make it perfect for entertaining. The first floor features an additional room that can easily be converted into a 5th bedroom, office or playroom. The guest bathrooms feature vanities handcrafted in Latvia from reclaimed floor planks from 19th Century European farmhouses. The 11 foot ceilings continue to flow throughout the house with multiple skylights to keep it bright. All bedrooms have beautiful hickory wood flooring and custom built-ins in the closets. The grand master bedroom and custom details throughout this home make it a must see&quot;


Click here for the Virtual Tour (Video).


3112 Maple Avenue begins at $3.995M and is open Sat. &amp; Sun. 1-4pm.


3112 Maple Avenue is Listed by Shawn Dugan, Strand Hill Christies International Real Estate.


733 12th Street (5br/6ba, 4383 sqft.) is a 2017 warm modern in the South Martyrs area, boasting 3 floors and, currently, some inspiring treetop and rooftop views to the east.


We're fans of this neighborhood, which is very walkable to town and the local elementary.


As you might find in a Sand Section home of comparable size, there are two sizable living areas, a large downstairs family room plus all the principal living spaces on the top level.


Nice feature: The master suite includes a small separate room that can be closed off with a pocket door, good for a home gym/yoga spot or home office.


Worth noting: This home traded in July 2021 for $4.500M. It's asking $500K more now.


From the official description:


&quot;Situated in beautiful Manhattan Beach, this contemporary style home will meet the expectations of the most discerning buyer. Built in 2017, this home features 5 bedrooms, 6 baths and 4,383 square feet. The open floor plan features ultra-high end finishes. From limestone to Caesarstone. The public space is on the top level and features a beautiful kitchen with Bertazzoni appliances, a large center island, vaulted ceilings, spacious living room and a large deck. The primary suite features panoramic doors that open to a private deck, a bonus sitting room/office. Among other features, the primary suite also features a spacious walk-in closet, a spa like bath with floating tub creating a beautiful zen like experience. On the lower level, accessible through the stairs or elevator, is a fantastic flexible space that can be a game room, home theater, or even a gym. It features a kitchenette with 120 bottle Sub-Zero wine refrigerator. Rounding out the features of this beautiful home are ceiling speakers, beach shower and surfboard storage. The perfectly situated location is just another of the amazing benefits of living in this home&quot;


733 12th Street begins at $4.995M and is open Sat. &amp; Sun. 1-4pm.


733 12th Street is Listed by Gus Ruelas, The Agency.


2213 N Valley Drive (4br/3ba, 2880 sqft.) has a bit of a surprising split-level layout, with most bedrooms downstairs along a corridor, and a master suite hidden away in back behind the living room.


It's the high, angular ceilings throughout that give the home a lot of character, and light. It's definitely a 1970s concept (1978, to be specific), but with its updates, it's pretty appealing. 


From the official description:


&quot;The unique tri-level open floor plan makes for a great family home and is ideal for entertaining The upper-level features vaulted ceilings, refinished hardwood floors throughout, a beautiful powder room, and an expansive formal dining room adjacent to the updated kitchen. The kitchen features quartzite counter tops, quality cabinets with over-under and interior lighting, and stainless appliances including a new gas range, Dacor side-by-side refrigerator, beverage cooler, new Bosch dishwasher, and Thermador double oven with convection. Next to the kitchen you will find a great room with wood burning fireplace and dry bar This all leads to an exterior wrap around deck overlooking the tranquil backyard. The middle level’s formal entry leads to the living room showcasing vaulted ceilings and plantation shutters. The spacious primary suite includes a walk-in closet, full bath with spa tub, oversized shower with sitting bench and an exterior deck off the bath with side patio and room for a spa. The lower level, you will find 3 large bedrooms, two of which include walk-in closets and a full bath with double sinks and laundry room.&quot;


Click here for the Virtual Tour (Photo).


2213 N Valley Drive begins at $3.149M and is open Sat. &amp; Sun. 1-4pm.


2213 N Valley Drive is Listed by Richard Mueller, Compass.


2615 N Valley Drive (5br/4ba, 2850 sqft.) is built on a wide, triangular lot that runs along Valley, coming back to a corner in back.


Inside, the home features a very wide and open first floor, opening to a modest backyard with tile.


The updates (going back to 2018) give it some personality.


Worth noting: This home sold for $2.790M early this year.


From the official description:


&quot;Contemporary Farmhouse. Remodeled in 2018, this home features a great open floor plan that is great for entertaining family and friends. Buyer can have furniture dictate the utility of the rooms rather than an enclosed floor plan. Ground level has chef's kitchen with a large built-in Thermador range, Thermador side by side fridge/freezer and walk-in pantry. Extra wide oak hardwood floors throughout house. All 5 bedrooms are on second level. Master suits has master bath with custom vanities, marble countertops, and a separate soaking tub. Amenities include: New A/C, walking access to the green belt.&quot;


2615 N Valley Drive begins at $3.099M and is open Sat. &amp; Sun. 1-4pm.


2615 N Valley Drive is Listed by Vincenzo Altamura, S C Real Estate.


Sand Section


2604 Alma Ave (4br/4ba, 2601 sqft.) is a new construction townhome with some big ocean views. (Don't you love Alma sometimes?)


It's companion unit on Vista is also new to market this week (see next listing).


From the official description:


&quot;New Stunning Coastal Modern Beach townhome with DELUXE quality high-end finishes throughout, A+ location, panoramic ocean views, and a 3-stop elevator... The spacious, sunny great room has a beautiful 'Brilliant Black' quartzite stone fireplace surrounded by rift oak cabinetry built-ins with 'Brilliant Black' quartzite stone countertops, dining area, and Fleetwood stacking sliding glass doors opening to a large deck with panoramic ocean views, a built-in BBQ, a Ruvati marine-grade stainless steel sink, and deck ceiling made with natural stained Douglas Fir planks, creating a seamless indoor/outdoor living with panoramic ocean views from PV to Malibu. The amazing gourmet cook’s kitchen boasts a vast 'Mont Blanc' quartzite stone center island with breakfast bar seating, Thermador stainless steel appliances (fridge, freezer, dishwasher), 48” Wolf range with 6 burners, griddle, and double oven, a wine fridge, and 'Mont Blanc' quartzite stone countertops. The gorgeous travertine stone master bathroom has a separate soaking tub and a shower with three shower heads, including a rain shower head. The master bedroom has a walk-in closet, custom ceiling fan, and sliding glass doors opening to a private, wrap-around deck. Additional amenities include: tri-zoned A/C &amp; heat, Nest learning thermostats, European oak wood floors, Control-4 customizable smart home system.&quot;


2604 Alma Ave begins at $5.199M and is open Sat. &amp; Sun. 2-4pm.


2604 Alma Ave is Listed by Robert Lane, Vista Sotheby’s International Realty.


2605 Vista Drive (4br/4ba, 2678 sqft.) is the rear companion to 2604 Alma (above).


From the official description:


&quot;New Stunning Coastal Modern Beach townhome with DELUXE quality high-end finishes throughout, A+ location, and a 3-stop elevator... The amazing gourmet cook’s kitchen boasts a vast 'Brilliant Black' quartzite stone center island with breakfast bar seating, Thermador stainless steel appliances (fridge, freezer, dishwasher), 48” Wolf range with 6 burners, griddle, and double oven, a wine fridge, and “Mont Blanc” quartzite stone countertops. The gorgeous travertine stone master bathroom has a separate soaking tub and a shower with three shower heads, including a rain shower head. The master bedroom has a walk-in closet and sliding glass doors opening to a private, wrap-around deck.&quot;


2605 Vista Drive begins at $4.699M and is open Sat. &amp; Sun. 2-4pm.


2605 Vista Drive is Listed by Robert Lane, Vista Sotheby’s International Realty.


East Manhattan Beach


1340 Marine Avenue (3br/3ba, 2053 sqft.) offers some pleasant surprises, including treetop &amp; rooftop views to the east.


There's a very open floorplan, freshly redone cabinetry, and much more outdoor space than expected.


From the official description:


&quot;The perfect one level home on a large 6000 sq foot lot... [with] a large South Facing backyard... Completely upgraded this home just got all new interior paint, refinished cabinets, a second living area created and all new landscaping. Complete with a Large Primary Suite with Walk-in Closet and dual sink vanity primary bathroom. Vaulted ceilings in the main family room opens directly into an upgraded center island kitchen with all stainless steel appliances. Do not miss the second living area added that opens to a very large backyard with sport-court and tons of sunshine. Attached 2 car garage and driveway.&quot;


1340 Marine Avenue begins at $1.999M and is open Sat. &amp; Sun. 1-3pm.


1340 Marine Avenue is Listed by Chad Fahlbusch, Strand Hill Christies International Real Estate.


1351 17th (4br/4ba, 3122 sqft.) is an early 90s corner-lot Spanish right across from the local elementary school.


Refreshed and upgraded, the home has all 4 bedrooms upstairs.


From the official description:


&quot;This beautiful refurbished and upgraded 4 bedroom, 3 ½ bath single family home is situated on a huge corner lot and presents a spectacular spacious floor plan in a most convenient location of East Manhattan Beach. It has a beautiful private rear yard and patio surrounded by a 20 foot high privacy hedge, and a grassy south facing front yard, directly across the street from the elevated playing fields of Meadows school (so no neighbor and lots of greenery). The kitchen has lustrous granite counters atop an array of gleaming white cabinetry. With lots of workspace. The kitchen is open to the breakfast nook and great room/family room, with a wood burning fireplace a wine bar and lots of displays shelves and cabinets. Sliding wood doors lead out to the serene patio. The more formal dining room and living rooms are very spacious and overlook the greenery of the front yard with its colorful flowers. There is a wood-burning fireplace in the living room which is also accentuated with vaulted ceilings. Gleaming hardwood floors extend throughout the entire house All four bedrooms are upstairs, including an ensuite bedroom with built-in desk and balcony off the front of the home.&quot;


1351 17th begins at $2.899M and is open Sat. &amp; Sun. 11am-5:00pm.


1351 17th is Listed by Robert Freedman, Corcoran Global Living.


1191 Tennyson Street  (3br/2ba, 1518 sqft.) 


From the official description:


&quot;Welcome to this unique opportunity on a quiet block of the highly desirable Poets Section in East Manhattan Beach. This charming single-level home features three bedrooms and two bathrooms in a bright and open living space with fireplace, newer AC and hardwood floors through out. The beautifully landscaped and sunny back yard provides privacy with mature hedges, and is perfect for outdoor living and entertaining with the balance of drought-friendly turf, and hardscape area. This lovely home offers the Manhattan Beach lifestyle and is ideally located and within walking distance of top awarding winning schools, shopping, restaurants and the beach. Please call for any additional details. Photos are of the actual interiors emptied of personal items.&quot;


1191 Tennyson Street begins at $1.899M.


1191 Tennyson Street is Listed by Lynn Range, Vista Sotheby’s International Realty.


 
 ]]> </description>
    <pubDate>Sat, 06 Aug 2022 11:26:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/final-results-the-early-2022-avm-bot-challenge.html</guid>
    <link>https://www.mbconfidential.com/blog/final-results-the-early-2022-avm-bot-challenge.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>Final Results: The Early-2022 AVM Bot Challenge</title>
    <description> <![CDATA[ 
About 6 months ago, we announced our latest effort to test all the online valuation bots against the real world.


We tested the valuations for 14 local properties as presented on three popular websites: Zillow, Redfin and Realtor.com. (These estimates are often referred to as AVMs for &quot;Automated Valuation Models.&quot;)


Could algorithms properly assess or predict Manhattan Beach home values?


Was any one system better, or worse, than the others?


If you'd like, you can refer back to our two prior posts on the topic (&quot;The Early 2022 AVM Bot Challenge&quot; and &quot;How Are the AVM Bots Doing?&quot;).


We chose 14 listings that were active as of late January, most new to market. At the end of the day, 13 of the 14 listings sold, so we have plenty of data to go by. See our analysis of the AVMs and &quot;report card&quot; below.


-----------------------------------


NOTES:


Nerdy note: One of the listings actually canceled off the MLS instead of selling, but tax records show that it sold soon after. So we are counting that sale, since our purpose is to see how close the bots were to the sale prices. One other listing switched agents and began with a different list price before selling, but we compare its sold price here to its first list price and the initial bot estimates.


CYA note: Both Redfin and Zillow operate brokerages which could be viewed as competitors. It is generally not a good business practice to publicly critique competitors. We are not focused here on either brokerage's business practices, however, but rather the reliability of their publicly displayed property valuations, which seem like fair game for discussion.


Please Note: The properties subject to this test and listed below come from the whole Manhattan Beach market via the MLS, and were, or are, listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property, next to the price. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent or buyer's agent unless so stated with the listing. Details on every property are provided below, along with comments. 


-----------------------------------


Report Card: Rating the AVM Bots


It's Summer, and maybe no one wants to think about report cards. But frankly, some of these bots need to go back to school.





Oddly, it's Realtor.com's menagerie of multiple valuation bots that appears to need the most remedial training.


That grade of D is possibly too generous. As you'll see below, 60 of Realtor.com's estimated values were more than 10 off from reality, with a whopping 43 of the estimates off by 15 or more.


That's bad, but it gets worse. One out of four Realtor.com estimates were off by more than 40. If you put the same kind of mathematical rigor into building a rocket, not only would you fail to get off the launch pad, the whole jalopy would topple over before it was ready. People could die


This is all the more amazing because Realtor.com posts 3 separate valuations for each property, using different methodologies. You might think that having more chances to be right would increase the odds of being right, but no. For Realtor.com, it's like having 3 lottery tickets instead of one... nearly equal odds of being a loser.


(In our chart below, we are rating all 35 valuations given by Realtor.com on 13 sold properties. If we pick only the &quot;most accurate&quot; out of 3 valuations by Realtor.com for each of 13 properties, the results still are similar.)


Redfin's bots, by contrast, can enjoy the rest of Summer on a sandy beach somewhere. (Just don't get wet) They posted a remarkable record of accuracy among these Manhattan Beach listings, compared to the others.


Redfin was quite a bit more likely than not to suggest a value within 5 of the eventual sale price. Take note of the very big red 46 here, indicating that a large number of Redfin's estimates were between 2-5 of the eventual sale price.





An automated value within 5 of the real value is good, no question.


We have noted before some of our skepticism towards various AVMs, which sometimes seem to &quot;cheat off the listing agent's paper.&quot; That means these figures often seem to be close to the public MLS asking price. If the AVM factors in the list price as a data point, the system isn't really assessing inherent value or comps, but taking advantage of the work that was already done by the listing broker. (We don't actually know how these algorithms are built, we just have suspicions.)


An actual real estate professional person, using some combination of experience, street smarts and MLS data, ought to be able to come within 5 most of the time - much more than 61 of the time, it is to be hoped. But hey, we humans get the advantage of seeing houses in person, being able to use subjective factors and just generally being able to think critically. (In most cases.)


Now, you probably wouldn't hire as your broker a person who had a track record in which 30 of the time they totally blew it, missing the proper value by 10 or more. But it's decent for a bot.


Zillow pretty much invented online, automated valuations for the mass public, but they just aren't hitting their mark here in Manhattan Beach.


Our C+ grade here also feels a bit generous, and it's really showing how we grade on a curve.


Zillow had only 25 of its estimates within 5 of the sale price, with another 25 being within 5-10.


Put simply, there was a 50-50 chance that the Zillow number for a Manhattan Beach property was within 10. And then, a 50-50 chance that it wasn't within 10. 


This performance isn't even close to the track record Zillow purports to have in the &quot;metropolitan area&quot; of &quot;Los Angeles-Long Beach-Anaheim.&quot; They have crunched their own numbers, and Zillow says on this page that they're within 5 of the price 61 of the time, and within 10 of the price 88.5 of the time.


You say 88.5, I say 50, who's to say who's right?


The first time we publicly tested Zillow estimates for Manhattan Beach, back in 2013-14, their system also got within 10 of the sale price exactly half the time.


Plus ça change, plus c'est la même chose.


That's French for: If you want a property valuation done right, don't rely on a corporate bot to do it for you.


 


About the Properties in the Test


Here is a full list of the properties that we pulled out for the test in January.


List price, sale price and automated valuations are all provided, along with brief comments.


200 40th Street (4br/5ba, 2468 sqft.)


Start price: $5,499,999


Sold price: $5,300,000 (-$199K / -4)


Listed by Matt Waxman of Palm Realty Boutique, Inc. 


Estimates


Zillow: $1,964,500


Redfin: $5,463,632


Realtor.com: $2,002,700 / $2,267,907


Comment:


Nothing like this sale has ever happened in El Porto. Huge number.


Zillow and Realtor.com seemed to think it was an old/original duplex.


Remember how we said the AVMs sometimes appear to cheat by factoring in the list price?


How else did Redfin get within 3 of this unprecedented sale?


1508 Magnolia Avenue (5br/2ba, 1896 sqft.)


Start price: $2,200,000


Sold price: $2,650,000* (+$450K / +20)


(*MLS listing canceled)


Listed by David Caskey, eXp Realty of California Inc | 310-374-1800


Estimates


Zillow: $2,136,500


Redfin: $2,298,652


Realtor.com: $2,198,000 / $1,981,600 / $1,858,432


Comment:


Everyone missed the idea of this expanded cottage going over $2.6M. It was early 2022.


1516 The Strand (4br/4ba, 4953 sqft.)


Start price: $17,500,000


Sold price: $16,200,000 (-$1.300M / -7)


Listed by Kurt Rappaport of Westside Estate Agency Inc.


Estimates


Zillow: $10,888,200


Redfin: $16,631,767


Realtor.com: $7,918,000 / $7,993,107


Comment:


Sometimes it takes 18 months or more to sell a Strand property, as happened here.


Redfin was within 3 again, while the others utterly blew it, with Zillow off by 33 and Realtor.com missing by more than 50.


501 5th Street (4br/6ba, 4483 sqft.)


Start price: $4,488,000


Sold price: $4,475,000 (-$13K / -0.3)


Listed by David Keller of Re/Max Estate Properties


Estimates


Zillow: $6,830,400


Redfin: $4,491,847


Realtor.com: $5,604,000 / $2,161,000 / $4,128,431


Comment:


We are still vastly entertained by the cacophony of prices suggested here, with only Redfin (again) close.


Imagine a room full of kindergarteners. Ask them &quot;What's old?&quot;


10


145


40


That's what these numbers mostly look like.


341 4th Street (2br/1ba, 879 sqft.)


Start price: $3,899,000


Sold price: $4,554,000 (+$655K / +17)


Listed by Bryn Stroyke of Bayside


Estimates


Zillow: $3,899,000


Redfin: $3,901,506


Realtor.com: $2,437,000 / $2,581,100 / $1,975,817


Comment:


Zoinks. Realtor.com doesn't know anything about walkstreets.


Zillow literally adopted the list price, but that was too low.


Redfin at least tried to hide things by adding a random $2,506 to the list.


The house went $655K over list.


1500 Walnut Avenue (3br/2ba, 1212 sqft.)


Start price: $2,399,000


Sold price: $2,600,000 (+$201K / +8)


Listed by Jennifer Caras of Vista Sotheby’s International Realty


Estimates


Zillow: $2,518,200


Redfin: $2,535,894


Realtor.com: $2,385,000 / $2,447,100 / $2,218,439


Comment:


Everyone was pretty close, with Redfin suggesting the greatest overbid, $136K.


It went $201K over.


665 19th Street (5br/7ba, 3598 sqft.)


Start price: $4,899,000


Sold price: $4,674,000 (-$225K / -5)


Listed by David Caskey, eXp Realty of California Inc | 310-374-1800


Estimates


Zillow: $5,143,600


Redfin: $4,893,785


Realtor.com: $5,156,000 / $4,935,600 / $4,913,273


Comment:


Absolutely none of the 5 estimates were under asking.


The home sold under asking.


42 Dover Place (3br/3ba, 2042 sqft.)


Start price: $1,950,000


Sold price: $2,011,600 (+$61K / +3)


 Listed by Vanessa Sokolsky of Harcourts Hunter Mason Realty


Estimates


Zillow: $1,891,100


Redfin: $1,927,612


Realtor.com: $1,943,000 / $1,960,600 / $1,990,989


Comment:


Two of Realtor.com's estimates were over asking.


The home sold over asking.


This was Realtor.com's best performance, the only one within 1.


14 Monterey Court (2br/2ba, 1465sqft.)


Start price: $1,325,000


Sold price: $1,325,000


Listed by Brianna Franco of eXp Realty of California Inc


Estimates


Zillow: $1,347,200


Redfin: $1,358,435


Realtor.com: $1,441,000 / $1,383,200 / $1,453,369


Comment:


Shoulda stuck with list price, guys. The home sold for list price.


207 S Aviation Boulevard (2br/1ba, 906 sqft.)


Start price: $1,488,000*


Sold price: $1,300,000** (-$188K / -13)


(* First listing ** Second listing/new agent.)


 Sold listing Listed by Edward Kaminsky of eXp Realty of California, Inc


Estimates


Zillow: N/A


Redfin: $1,507,154


Realtor.com: $1,451,000 / $ 1,423,100 / $1,394,266


Comment:


It's hard to say anyone &quot;won&quot; this one. Zillow even sat it out.


In Realtor.com's favor, you can note that all their estimates were under the original asking price.


625 33rd Street (3br/3ba, 2080 sqft.) 


Start price: $2,499,000


Sold price: $2,680,000 (+$181K / +7)


Listed by Casey Janssen of The L3


Estimates


Zillow: $2,551,300


Redfin: $2,554,755


Realtor.com: $2,489,000 / $2,517,400 / $2,108,835


Comment:


Three of 5 estimates were over asking, but none on the scale that the market delivered.


2501 Walnut Avenue (4br/4ba, 3766 sqft.)


Start price: $3,099,000


Sold price: $2,835,000 (-$264K / -9)


Listed by Suzanne Dyer of Berkshire Hathaway HomeService


Estimates


Zillow: $3,102,000


Redfin: $3,023,275


Realtor.com: $4,088,000 / $3,219,600 / $3,480,422


Comment:


All the bots blew this one, unable to fully factor in the presence of busy Marine Ave. right next to the entry door and living room/dining room of this house.


Of course, the sellers and listing agent also estimated high... by 9 in this case.


2612 Alma Avenue  (3br/2ba, 1233 sqft.)


Start price: $2,999,990


Sold price: $2,600,000 (-$400K / -13)


Listed by Don Ruane of Real Estate West, Inc.


Estimates


Zillow: $3,000,000


Redfin: $3,009,198


Realtor.com: $2,966,000 / $2,998,600 / $3,001,976


Comment:


All the AVM bots believed too much in the list price, hewing close to it in their estimates.


But the listing started 13 too high, judging by the sale price.


Not Yet Sold


3216 The Strand (5br/8ba, 7454 sqft.)


Start price: $30,000,000


 Listed by Christa Lyons, eXp Realty of California, Inc.


Estimates


Zillow: $16,480,600


Redfin: $27,191,401


Realtor.com: $11,400,900


Comment:


This was the most expensive Strand listing ever when it emerged early in 2022. It might take some time. Now there's an even pricier listing at $36M on The Strand.


The bots have never seen anything like this, with two far, far away from asking.
 ]]> </description>
    <pubDate>Thu, 04 Aug 2022 18:00:00 -0700</pubDate>
</item>
<item>
    <guid>https://www.mbconfidential.com/blog/manhattan-beach-market-update-for-73122.html</guid>
    <link>https://www.mbconfidential.com/blog/manhattan-beach-market-update-for-73122.html</link>
        <author>dave@mbconfidential.com (Dave Fratello)</author>
        <title>A July Chill - Manhattan Beach Market Update for 7/31/22</title>
    <description> <![CDATA[ 
Remember how Manhattan Beach has been performing better than most other real estate markets recently?


Now we can say... we understand what everyone else is going through.


July saw a precipitous drop in new purchase contracts for Manhattan Beach homes.


A month that is often quite consistently near 40 new deals per month instead saw only 20. 


It's supposed to be Summer. But there's a chill in the air. 


It's all the usual factors you're hearing about in the news. Higher interest rates have paused some buyers' searches. Inventory remains quite low compared to average for the time of year. And we always note that Summer in Manhattan Beach is a somewhat slower time of year for home listings and purchases.


But if we're going to compare apples to apples, there's a &quot;normal&quot; number of July apples (around 40), there's 2020's bumper crop of 51 apples, and then there's this year's drought-ridden 20 apples.


Just last week, we were discussing how the Tree Section is avoiding this fate. The 8 new escrows we referenced there all began in July. The Sand Section, with greater inventory, also had 8. This left just 1 in the Hill Section and 3 in East Manhattan to round out the 20.


Worth noting: Inventory as of 7/31 was 63 listings, just 2 behind last year.


In 2020: 133


Here's the rest of our local real estate market update report for the period ending 7/31/22:


&gt; 63 active listings as of 7/31/22 (+3 from 7/15/22) 


&gt; 55 SFRs (+6)


&gt; 8 THs (-3)


See the Inventory list as of 7/31/22 here, or see the MB Dashboard for up-to-the-minute data.


Active listings by region of Manhattan Beach in this report:


&gt; Tree Section: 14 actives (+2)


&gt; Sand Section: 23 actives (flat)


&gt; Hill Section: 14 actives (+2)


&gt; East MB: 12 (-1)


We're also providing a report on closed sales by region of MB


Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach.


Here's a link to the spreadsheet: &quot;MB Pending/Sold as of 7/31/22&quot;.
 ]]> </description>
    <pubDate>Tue, 02 Aug 2022 09:07:00 -0700</pubDate>
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