hill section

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We'll remember the first half of February 2015 as the time when we said, "Oh, really!?!" a few more times.

The kinds of deals buyers are making early in the year continue to set the tone for another roaring year in Manhattan Beach real estate. Consider:

  • 316 4th St., a corner lot at Crest and the flat 4th St. walkstreet, listed for $3.300M, about $600K above 2 recent nearby lot-sale comps, and is in escrow for more than 10% more than asking price; this says "watch out, South End." Ocean views helped on this one.
  • Two East MB lots deep into the 1700 block, specifically 1721 Gates and 1727 Gates, listed for $1.400M and $1.500M, respectively, and made immediate deals. Previously, you might have penciled them in at $1.300M-minus each, but no. (FYI 1727

Back a bit before Christmas, we tried to calm MBC readers who were thinking that the the ocean-view lot at 864 5th in the Hill Section might be selling for less than $2M. Such a deal?

In "No, That's Not a Lot Under $2M," we pointed out that the active listing price of $1.949M had already been exceeded in a first-round bidding war.

The price had settled around $2.6M, but that was pending an all-important "court confirmation" with a potential for overbids in court.

That court hearing happened Jan. 23, and overbidding happened there.

The closed sale has now posted: $2.900M. That's for a 5700 sq. ft. lot that gets some views from front and back (that photo's from the back deck of the current structure).

Next stop: New construction. And do you even want to…

It was the end of the beginning.

The second half of January often sees just a little warmup in real estate market activity in Manhattan Beach before the Super Bowl kicks off the Spring market. And we saw that.

Consider 328 Marine Ave. (3br/4ba, 1900 sq. ft.), an ocean-view townhome with a sparkling new modern remodel inside. They might have waited to market this one till Marshawn Lynch victoriously blasted through the Patriots' defensive line the Super Bowl was over, but no, they saw an opportunity to sell in an uncrowded field, so they listed on Jan. 16.

Boom! Multiple offers. The $2.499M list price may have seemed a bit of a reach, all things considered, but with multiples, it seems to become all about winning.

We also saw a very quick deal on a

Sometimes, let's face it, it takes a very long time for a house to sell.

Stay the course, and you may well pull it off.

Two Hill Section listings have just made their deals after 8 months each on market.

911 Duncan (5br/6ba, 3765 sq. ft.) is the latest to do so. 

This warm modern spans 3 levels and gets some ocean and PV views from the top level. Interestingly, that top level features not only the kitchen and main living spaces, but also the master, which opens into the living room by way of "disappearing" (foldaway) solid wood doors.

The owners did a fabulous job outfitting the house with modern furniture and other upgrades, so that it shows fabulously now.

The market didn't love it, though, and it took a while for the home to find just the right…