Manhattan Beach Market Update for 10/15/21

By Dave Fratello | October 20th, 2021

Inventory is tiny and very few homes seem to stick around these days, so let's look at sales that are closing first.

124 8th Street Manhattan Beach CAThe seaside charmer we like to think of as the "Weeds" house sold at the start of October for $5.000M.

124 8th (3br/2ba, 1760 sqft.) isn't big, and neither are memories of the TV show that used the beachy cottage as an exterior location. (For more see "The 'Weeds' House is For Sale," June 2021.)

That's a decent price for the downtown-adjacent, 100-block plot with the bonus of a "Martha Stewart" cottage, about $200K under asking.

In the Tree Section, the Martyrs area was hot, with 3 sales:

656 17th Street Manhattan Beach CA656 17th (6br/7ba, 5050 sqft.) at $7.050M, a 2020 build with bold style;

609 15th (5br/4ba, 3200 sqft.), a 50s original mid-block below the church, at $3.625M (+$326K); and

647 15th (5br/4ba, 3670 sqft.), a beachy, singled 2005 build directly across from the front of the church, at $4.000M (-$150K). 

Meantime, in East Manhattan, there was just one closing in the first half of October, but it was a biggie.

1190 Duncan Drive Manhattan Beach CA1190 Duncan Drive is on a short drive at the peak of the hill just in east of Sepulveda. It enjoys a unique position up above the Poets Section, with very significant vistas toward Downtown L.A. and the mountains beyond.

There's a worn down single-level house (3br/2ba, 2035 sqft.) but nearly 14,000 sqft. of hillside land.

The sellers tried in 2019 at $4.250M, but this time sold off-market for $3.995M.

In our ongoing efforts to take the temperature of the market, we looked at new pending sales/purchase contracts.

Between Oct. 1-15, we recorded 18 new deals posted to the MLS. That's almost exactly the same as 4 of the 5 prior years. (In hot hot hot 2020, there were 19 new deals made in the same period.) So we'd call it a "normal" pace of sales, but still extraordinary given very low inventory.

Here's the rest of our local real estate market update report for the period ending 10/15/21:

> 55 active listings as of 10/15/21 (+1 from 9/30/21) 

> 39 SFRs (+1)

> 16 THs (flat)

See the Inventory list as of 10/15/21 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: actives (-3)

> Sand Section: 31 actives (-1)

> Hill Section: actives (+2)

> East MB: (+3)

We're also providing a report on closed sales by region of MB

Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach.

Here's a link to the spreadsheet: "MB Pending/Sold as of 10/15/21".

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