inventory

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It's time for one of our twice-monthly market updates. 

Inventory bounced up a little, but there have been plenty of sales – some quick and shocking.

This being Summer, it's natural to look at the beach and see what's up in the Sand Section.

Oh, my, did $12M worth of lots just trade at Bruce's Beach?

2520 Manhattan Ave. and 2519 Bayview, neighboring 1750 sqft. lots on the south side of the park, both listed in late June at $4.000M each. Immediate deals were rung up. Wow.

The stage was set for these deals with a recent sale at 217 27th, on the north side of the park. A lot there traded for $4.100M, about $100K over asking, in late May. That seems to have been something of an inspiration to the owners of those two lots right across, on the south side of

With a little rush of post-Memorial-Day listings, Manhattan Beach is seeing its highest inventory level so far to date in 2015.

As we write on Friday morning, there are a whopping 63 active listings of homes for sale (including SFRs and THs).

OK, so it's no flood, but it's a new range of choices. East and West, beach and 'burbs. It might not last, but it's good to see the year hit a new peak.

We took particular note of a few:

645 29th (5br/5ba, 3350 sqft.) is a fully refreshed Mediterranean on an inarguably great street.

Disclosure: Dave is friendly with the sellers and had a brief consultation with them prior to the listing.

Start price: $3.125M.

1750 5th (5br/5ba, 4000 sqft.) is a 2001 Mediterranean that's solid and boasts one of those mandatory

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

No fooling, it's time for one of our twice-monthly updates on Manhattan Beach real estate market activity, with updated spreadsheets on inventory and sales.

We like to look at notable sales of the period, and this one had its share. Over the past 2 weeks, some highlights were:

1321 Voorhees (6br/5ba, 3600 sqft.), a new spec build on a smaller-than-normal East MB lot (5245 sqft.), actually hit the MLS in January already in escrow at $2.799M.

That deal broke up, but within a couple days, the spacious new Plantation-style home had a new buyer. Turns out, that buyer paid more: $2.900M on the newly closed sale.

This one really raises the bar for East MB new construction. If a standard-to-large home (3600 sqft.) on a smaller lot can fetch $2.9M, what is a