hill section

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It's time for one of our twice-monthly updates on the Manhattan Beach real estate market.

We've got our eyes on the Hill Section this time, where it turns out the rumors were true: The new-construction home at 927 10th really did sell for the asking price of $5.800M.

A Hill Section home near $6M – not so unusual, you may say. But this one is pretty far east (for the area) and does not have views.

Consider, for a moment, the recent, nearby sale at 906 9th (6br/7ba, 5425 sqft.), boasting more space on a similarly sized lot (7250 vs. 7500 sqft. at 10th). It's a 2009 build in a Mediterranean style with rooms on 3 levels. That one came in at $4.300M in March, a PPSF of $793/PSF.

Meantime, 927 10th is brand-new and in a modern "Plantation Contemporary" style…

It seems there are some sellers in this real estate market who can really only be called "sellers" if they get a big number.

There's been no lack of exposure for the Hill Section corner-lot home for sale at 1007 Pacific, for instance.

The listing for this 5br/5ba home on a nearly 9400 sqft. corner view lot dates back to last October.

Hey hey! A sprawling Hill Section lot with views, and close to downtown Manhattan Beach, to boot. Come and get it, right?

The start at $6.600M was high, though, and the current $6.200M list seems not to be resonating with the market, either.

Is anyone stressed out about it?

It would appear not, even at 220+ DOM.

Either the market will come to them, or the sellers will just enjoy the home.

Down in the Sand Section, with…

Even just the last week has seemed busy in the Manhattan Beach real estate market. You want options? They've been coming: 15 new listings in 7 days.

The problem (stop us if this sounds familiar)... There were 14 new deals made in the same span. So the 7-day net increase in inventory was +1.

We're going to focus on just a few new construction projects that have found buyers most recently:

2412 John (3br/3ba, 1890 sqft.) is unconventional for new construction and has been polarizing, in a way, among market watchers. Why build under-sized on a prime street? Why go mid-century? Are buyers really looking for green & modern?

For an uncomfortably long time – OK, just 90 days – the doubters were winning the day. 2412 John was too ambitiously priced at $2.799M…

It's time for one of our twice-monthly updates on Manhattan Beach real estate market activity, with updated spreadsheets on inventory and sales.

First we'll just note that, out of nowhere, it seems, El Porto prices seem to be equalizing with the rest of Manhattan Beach. The most recent example is this week's sale of new construction at 229 Rosecrans Place (3br/4ba, 2330 sqft.) at $2.565M.

We've taken note of this trend in stages. Whereas typically there was some kind of discount for properties north of Rosecrans, now, that's not as clear. (See our posts from 2014, "Big New Numbers in El Porto" and "El Porto: En Fuego.")

Dave had a listing late last year of a single-family home at 209 41st (3br/4ba, 1885 sq. ft.), in the very center of El Porto.

We