Inventory Is Getting Eaten

By Dave Fratello | November 25th, 2015

Just in time for Thanksgiving, and something like a holiday "break" in the Manhattan Beach real estate market, you are seeing homes selling and inventory dwindling for the right reasons.

That's before sellers simply start quitting in droves.

Here are several homes newly absorbed before Turkey Day:

1765 Curtis Avenue Manhattan Beach CA1765 Curtis (5br/4ba, 3875 sqft.) is a 1980s original with some updates, in this case to the kitchen and master bath, principally.

On its second listing this year, it was asking $2.395M initially. Watching the competition chop prices and make deals, the listing came down to $2.195M (-$200K / -8%).

They've finally got a deal.

1500 Nelson Avenue Manhattan Beach CA

1500 Nelson (2br/2ba, 1600 sqft.) is a cottage with a spacious yard. Location is a bit of a challenge, right across from the high school.

The home's been well loved and has some modest updates. It was among the least expensive homes in MB when it debuted at $1.399M, and gradually cut to $1.299M.

After 7 weeks, they've got a deal.

1751 Curtis Avenue Manhattan Beach CA1751 Curtis (5br/4ba, 3750 sqft.) is an 80s house that got a complete, head-to-toe remodel. They replaced cabinets, redid kitchen and baths, and so on, making the whole house sparkle.

In August, this one began at $2.550M, a start price that seemed to some support, but it took 3 months to sell.

After repeated cuts, it was last seen on the market at $2.249M, re-setting the bar among comparable East MB remodels, which all seemed to make adjustments from the $2.4s to the $2.2s in a dance to attract the same buyers.

2309 Walnut Avenue Manhattan Beach CA2309 Walnut (3br/2ba, 1550 sqft.) is an unusual remodel with living rooms up front and in back, kitchen off to one side in a semi-galley arrangement, and two of the bedrooms off on a hallway with no bath. (Occupants need to come back out into the main part of the home and go across the hallway to get to the full bath, which also serves the common areas.)

There is a separate master suite in back.

It's really not what the average buyer was looking for, but after a cut to $1.799M, the listing lasted less than a full month. It's in escrow now.

2505 North Poinsettia Avenue Manhattan Beach CASpeaking of Tree Section homes that can work, but aren't exactly the standard offering, 2505 N. Poinsettia (3br/3ba, 1780 sqft.) is in escrow now after 2 months on market and a price chop to $1.699M.

The upsloping lot, one-car "garage" and location near Marine were factors limiting the value, but inside, the modern-style remodel was warm and attractive.

Manhattan Beach has a total of 68 active listings as we reach a "getaway day" and big family weekend. 

The numbers should only go down from here through early 2016.

For now, there are several sellers who have a little something extra to be thankful for.

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