Healthy Activity and Sales – Manhattan Beach Market Update for 11/15/23

There is something of a sense of normalcy in the market these days, notwithstanding some obvious challenges for buyers with higher rates and still-limited inventory.

Well-priced, attractive homes are still selling fast, and closing at robust prices.

In the first half of this month, the Tree Section has seen some rapid absorption of recent listings, including:

3201 Maple Avenue (5br/6ba, 6137 sqft.), a super-ambitious new construction mega house placed onto a double lot.

In a nice but modest neighborhood, it was a gamble for the builder to go big like this, asking $7.250M for a 6000+ sqft. home, but the right buyer was just sitting out there looking for this product.

In less than 2 weeks, they had a deal.

(3201 Maple is listed by Barry Host, Vista Sotheby’s International Realty.)

2605 Pine (5br/4ba, 3328 sqft.), a late-90s home benefiting from a total interior remodel.

It was up at $3.999M and had a deal within 2 weeks.

(2605 Pine is listed by Jennifer Caskey, Compass.)

2116 N. Ardmore (4br/2ba, 2220 sqft.) is a recently remodeled home with a couple of surprises: A courtyard setting just off the living spaces, and a huge primary suite upstairs, much larger than the other rooms downstairs.

This property was on the market for a stretch of the Spring, without selling. It was tenant-occupied and clearly needed a referesh.

So the sellers did the refresh, and sold it within days. (List price was $2.699M.)

(2116 N. Ardmore is listed by Deanna Wallo-Whipp, eXp Realty of California Inc.)

Among the headliner closings during this period:

417 5th (4br/5ba, 3624 sqft.), a custom-built '04 South End walkstreet home with an attractive, East Coast vibe and some upgrades.

They definitely began high at $6.695M, eventually reaching a deal to close at $6.100M.

Also in the Sand, a unique remodel with a mid-century modern vibe and super cool rooftop deck at 511 Marine (4br/3ba, 2451 sqft.) closed way over asking at $4.225M (+$430K), well over $1,700/PSF.

Over in East Manhattan, there were a few notable closings as well:

10 Cambridge (4br/3ba, 3058 sqft.), a mostly original SFR in the Village at the end of a cul-de-sac with a lot of extra hillside land, giving the property an uncommon 10,748 sqft. lot. Dave's clients got this property quickly and substantially under asking at $3.010M (-$190K).

13 Coronado Ct. (3br/3ba, 2023 sqft.), a wildly remodeled Plan 4 Village townhome, just popping with pizzazz and style. Asking $1.950M, it was under contract within 4 days and sold $60K over at $2.010M.

1807 9th (3br/2ba, 1487 sqft.), a very original 1960s ranch house on a full-sized, 7500 sqft. lot, got a little over asking after just week on market, closing for $1.937M (+$37K).

1605 Magnolia (5br/4ba, 3383 sqft.), a 2006-built classic that's so inherently pretty, we just said the other day that this could almost be a model home: "could people just study the really pretty homes and, like... do that?"

Asking $3.995M, this home closed just a tad lower at $3.900M after almost 4 weeks on market.

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Here's the rest of our local real estate market update report for the period ending 11/15/23:

> 77 active listings as of 11/15/23 (+8 from 10/31/23) 

> 59 SFRs (+6)

> 18 THs (+2)

See the Inventory list as of 11/15/23 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: 20 actives (-2)

> Sand Section: 33 actives (+7)

> Hill Section: 9 actives (-2)

> East MB: 15 actives (+5)

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 11/15/23".