East MB

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In these go-go times in the Manhattan Beach real estate market, it's no big surprise to see sellers overreach.

After all, it sometimes seems that list prices are merely the starting point for the inevitable bidding war. (See our post, "Always Over Asking?")

But there are also cases like at 1622 Gates (5bd/7ba, 5,500 sq. ft.), where sellers quickly realize that there isn't a buyer at the initial price, and make adjustments.

Gates stands out as a particularly nice, custom house. And it once did sell for $3.100M (in 2007).

This year's list price was $3.175M, but they swiftly changed that to $2.999M just 2 weeks into the listing (-$176K/-5%).

So if they began a bit ahead of the market, they saw it and made the needed changes before the listing got "old."…

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

A couple of typos made the Manhattan Beach real estate market look a bit weird in this past week.

In maybe a glimpse of a future our kids or grandkids may see, 3011 Elm sold for a price (initially) reported as $32,125,000.

We like the Spanish "courtyard" home just fine, but for a 5br/5ba, 3600 sq. ft. house on a quiet, tree-lined block far from The Strand, that price made no sense. Not even in this market.

Alas, there was an extra "0" typed in, which was fixed 3-4 days later. Actual price: $3,212,500.

Now, this house will sell again. It's already sold 4 times in 10 years. This is the highest price yet. Even without the extra zero.

Meantime, in a window into the past, 2413 John (4br/2ba, 1900 sq. ft.) sold for $1,145,000

Well, that's what the

It was 4 weeks ago when we advised MBC readers to go take a look at 1321 Voorhees (6br/5ba, 3600 sq. ft.). It would be your only chance, it seemed, because the home was in escrow already.

In escrow... and at a big number, $2.795M, quite a feat for a home on a smaller-than-standard East MB lot (5200+ in this case).

Our opinions about this custom "plantation" home haven't changed, but that first buyer is gone, the escrow is canceled, and 1321 Voorhees is back on the market, looking for a new buyer. (You?)

[ UPDATE: Saturday, 1321 Voorhees went back into escrow. The rest of this post continues as originally run. ]

While it's out there for a second run, suddenly, it's notably the least-pricey East MB new construction option on the open market.

Right next…