inventory

There are currently 58 blog entries related to this category.

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

This was one of the busiest periods of our 'Spring' season so far, with a rush of new listings outpacing sales enough so that we're now +10 on inventory compared to March 1. Haha, now, 52 active listings is no glut, but at least we are seeing more choices.

Even as the market rolls, we saw 2 notable quitters and several price cuts here in the heart of Spring. What does that say to you?

640 30th (5br/5ba, 3450 sq. ft.) is a glamorous Mediterranean complete with 'Grecian styled' master bath.

Alas, it's heavy on that style in an area that's more informal and beachy.

They launched at $2.800M and chopped to

A couple of typos made the Manhattan Beach real estate market look a bit weird in this past week.

In maybe a glimpse of a future our kids or grandkids may see, 3011 Elm sold for a price (initially) reported as $32,125,000.

We like the Spanish "courtyard" home just fine, but for a 5br/5ba, 3600 sq. ft. house on a quiet, tree-lined block far from The Strand, that price made no sense. Not even in this market.

Alas, there was an extra "0" typed in, which was fixed 3-4 days later. Actual price: $3,212,500.

Now, this house will sell again. It's already sold 4 times in 10 years. This is the highest price yet. Even without the extra zero.

Meantime, in a window into the past, 2413 John (4br/2ba, 1900 sq. ft.) sold for $1,145,000

Well, that's what the

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

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