Manhattan Beach Market Update for 11/15/21

By Dave Fratello | November 17th, 2021

At this time last year, Manhattan Beach had 109 homes on the market, but the pace of sales was still blistering. (See "MB Market Update for 11/15/20.")

There was no November slowdown. There were 21 new deals posted in the first half of Nov. 2020, with 3 of the pending sales at the time being listings by our Edge Real Estate Agency.

This year, there are contrasts. We're at just 47 listings citywide, and the first half of November was calmer and somewhat more normal, at 13 new deals. (Equal to or better than several years prior to 2020.)

124 21st Place Manhattan Beach CAEdge does have a few escrows brewing, and we've closed several sales in recent weeks.

One was a very nice one, 124 21st Place (3br/4ba, 1940 sqft.), a half-lot, single-family custom modern in the Sand Section, just a few steps up from the beach.

The purchase was a good outcome of a process. With the clients, we first identified basic goals and targets, talked about potential timing in the market, then asked the clients to be patient as to finding the right opportunities. We informally pursued a couple properties, made a serious run at another and then went all-in for 124 21st Place amid competing offers.

It was definitely the right fit, and frankly a better property upon close inspection than even a great first impression had conveyed.

With the competition, we still closed at essentially the last asking price: $3.774M (after a start at $4.000M).

Among some other highlights in recent sales:

1540 1st Street Manhattan Beach CA1540 1st (5br/6ba, 4525 sqft.) at $4.650M. Just another huge, newer East MB house hitting a big number.

1211 Bayview (4br/4ba, 2350 sqft.) at $3.860M (see "Nice Turnaround on Bayview - Again")

1236 6th (3br/3ba, 2277 sqft.) at $2.800M - a recent record for East MB PPSF for a home over 2000 sqft., with the $1,230/PSF here edging out the recent sale at 1822 8th (3br/2ba, 2045 sqft., $2.485M and $1,215/PSF). Understandable because the better-located 6th St. home also had some very emotional appeal, with a high-end remodel and spacious, private backyard.

664 35th Street Manhattan Beach CA664 35th (4br/2ba, 1750 sqft.), a modestly upgraded cottage on an attractive street-to-alley lot (5400 sqft.), which sold for $2.226M (+$26K).

Here's the rest of our local real estate market update report for the period ending 11/15/21:

> 47 active listings as of 11/15/21 (+1 from 10/31/21) 

> 34 SFRs (flat)

> 13 THs (+1)

See the Inventory list as of 11/15/21 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: 27 actives (+1)

> Hill Section: actives (-1)

> East MB: (+4)

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 11/15/21".

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