East Manhattan Dominates Early '14

By Dave Fratello | January 15th, 2014

It's only half a month and a "slow" time for local real estate, but we have noticed that almost all the new listings so far this year have come in East Manhattan Beach.

One new listing of 2014 west of Sepulveda, 2912 Pine, made its deal so quickly, it's hard to recall it being on the market this year. The only other one, 104 The Strand, listed on Jan. 1 and made its deal yesterday. The other 7 new offerings so far this year were all east of the highway (see the list below), and an 8th came out after Christmas 2013, close enough to the new year.

So this got us wondering and figuring: What's the usual proportion of real estate sales in Manhattan Beach between east and west? As is our style, MBC answers that idle question with data.

Data going back 8 years show that, consistently, about one-third of residential real estate sales in MB are on the east side. In 2013, the figure was exactly 33%. (Last year, 139 sales out of 427 total were on the east side.)

So this very early tilt toward East MB early in the year is likely to be corrected with the strong emergence of inventory west of Sepulveda.

The one-third rule is interesting to contemplate. The land areas of East MB and West MB are very roughly equal, viewed on a map.

Alas, there's more turf on the east side devoted to schools, parks, movie studios and Target. And west of the highway, obviously zoning gets more dense as you approach the beach, so there are more residential units to sell. About twice the number of units, in fact.

Here are the public listings to emerge so far in 2014 east of Sepulveda:

  • 1343 6th (4br/3ba, 2200 sq. ft.), asking $1.599M
  • 1740 Mathews (3br/4ba, 1880 sq. ft.), asking $1.250M
  • 1650 22nd (3br/2ba, 1265 sq. ft.), asking $1.299M
  • 1741 9th (5br/6ba, 4400 sq. ft.), asking $2.649M
  • 1508 Wendy (2br/2ba, 950 sq. ft.), asking $929K
  • 2009 Faymont (4br/2ba, 1420 sq. ft.), asking $1.249M
  • 1846 6th (4br/3ba, 2545 sq. ft.), asking $1.499M

By Wednesday noon, none had yet gone into escrow. Yet.

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UPDATE: By 4:30PM, 1343 5th had posted a deal, and there were 2 new listings west of Sepulveda (3521 Palm at $1.995M and 226 13th Place at $2.689M).

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