Highest & Lowest Sales of 2017 in Manhattan Beach

By Dave Fratello | January 1st, 2018

It was a busy year again in Manhattan Beach real estate.

The year 2017 saw 421 sales closed, equal to the number closed in 2014, and higher by a few percentage points than both 2015 and 2016.

We'll take a look at the highest & lowest sales of the year now. Throughout January, we'll break it all down to look at sales by areas of Manhattan Beach.

See the bottom for some interesting year-end stat bullet points.

Highest Sale

The top sale of the year was for dirt.

1000-the-strand-manhattan-beach1000 The Strand is a corner lot of almost 5000 sqft. near the pier.

It's something like a location with iconic potential, just lacking the iconic or landmark home. (An older multi-family complex is on the lot now.)

Who cares if they began too high? Like, $8M too high? (That was 2 years ago.)

The closed sale of $21.000M marks the high for the year for all of Manhattan Beach.

Needless to say, it's just the beginning of the buyer's investment.

Runners Up

814 Pacific Avenue Manhattan Beach CAThere was one other $20M sale: At 814 Pacific Ave. (6br/6ba, 10,000 sqft.) in the Hill Section.

There isn't another one like it, and you wouldn't expect another to come along.

Its 23,000+ sqft. plot of land is just about double the size of two recent lot sales at the bottom of Pacific (500 Pacific [$5.700M] and 512 Pacific [$6.100M], each with large 11,400 sqft. plots).

It's about triple to quadruple the size of the lots found under typical homes in MB, east or west of Sepulveda.

The home itself is beautifully executed and, somehow, convincingly low-key. It is not difficult to see and feel it as an East Coast family home handed down over the generations.

This year, it wasn't handed down. It was sold. For exactly $20.0M.

Finally, new construction at 104 The Strand (5br/8ba, 5100 sqft.) came in at $18.400M.

Lowest Sale

Two sales of 2br condos in East Manhattan Beach came close to one another as the lowest sales of the year.

1501 Artesia Boulevard 1 Manhattan Beach CAThe actual least-pricey sale of the year was 1501 Artesia Blvd. #1 (2br/3ba, 1200 sqft.), a 1970s original with light upgrades inside.

Listed at $787K, the property drew an offer almost immediately and closed almost $20K lower at $768K.

Runners Up

Meantime, another 1970s 2br TH closer to the center of town at 1320 12th St. Unit F (2br/2ba, 1250 sqft.) began at $779K and sold $6K higher at $785K.

West of Sepulveda, you could find the 3rd-least-pricey sale of the year.

It's a small condo (2br/2ba, 1900 sqft.) with a Hill Section address that's been very nicely updated.

1117 Pacific Unit 7 listed for $759K but got bid up by 8% to sell for $819K.

Interesting Stats for 2017

• Those three "lowest sales" make up 3 of only 5 sales under $1M for the year

• There were 8 sales over $10M

62 home sales (15% of all) were new construction (with build dates of 2016 or 2017)

• More than half of all 2017 sales (232) closed between $2.000M-$5.000M

• Almost 2/3rds of homes sold in Manhattan Beach in 2017 sold west of Sepulveda (270 sales west/151 sales east)

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