High/Low Prices of 2009, Hills

By Dave Fratello | December 31st, 2009
We'll wrap up 2009 with a look at the highest and lowest prices paid for SFRs west of Sepulveda.

This post will focus on the Hill Section. We'll follow up with more on the Sand & Tree Sections soon in later posts. For the 2008 wrap-up, click here.

One nice improvement over last year's post – clicking on property links now takes you to the full-feature listing pages, even for most closed sales, thanks to some hard work by Redfin to unleash that information. Redfin's improvement on already-great search is definitely one of our favorite side stories of 2009. Enjoy.

Hill Section

Highest price: 218 Anderson aimed high this year, beginning very near $10m ($9.988m) in February. Had it sold near there, it would have been on a par with last year's top-dollar sale, 900 Pacific, which went for $9.85m.

Alas, that was not to be, but Anderson still took top honors this year, selling for $6.525m in November. The nearly $3.5m discount from start was also the biggest correction we saw in 2008 and the biggest we can recall in MB. (See "Ground Down to $6.5m.")

The very big (8br/9ba, 8500 sq. ft.) home on an ocean-view double lot offers all kinds of extras, like 2 masters and almost 2 kitchens (one a "caterer's cooking station") plus a gym and lap pool.

And while it seems plenty nice as-is (click here for the narrated virtual tour), the last we heard, the new owners plan to undertake a major new renovation. So the priciest sale in the Hills could get costlier as the months and years tick by.

Honorable mention: 814 10th is not officially sold yet — it's posted as being in escrow, and has been for several months. The ginormous new home (5br/7ba, 9000 sq. ft., including separate cabana) was listed at $6.995m for about 4 months before finding a buyer. We hear that's a lease-option deal rather than a straight-up sale. So the eventual sale price could be near $7m and could qualify as highest for the year 2009, or they may not close at that price, leaving Anderson as #1 for 2009.

Lowest price: 402 Larsson (3br/3ba, 1800 sq. ft.) scraped out the bottom for the Hills this year at $816k, a discount of 9% off this year's start price of $900k, and 26% off the list price from 2007 ($1.1m), when first this home hit the MBC radar.

In between, the home has faced foreclosure and cure, and appears to have been rented out a while. The buyers got a smallish fixer on the "wrong" side of Larsson, but hey, they're in the 90266, with a Robinson option, no less, with the lowest cost of entry for this year.

(To follow up on some questions regarding MBC's last reference to Robinson – the small school has to be viewed as a little perk of the area, but truly, if you're in any MB school, you're in fantastic shape.)

Runner-up: It's like splitting hairs here. 505 Anderson sold for a nearly insignificant $9k more than Larsson at $825k. Similar size at 4br/2ba, 1850 sq. ft., a real fixer though without the Larsson liability.

That's the Hills. We'll follow up shortly with the Sand & Trees.

Please see our blog disclaimer.

Latest Listings Among
Manhattan Beach Homes For Sale