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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, Manhattan Beach, CA3201 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 Avenue, Manhattan Beach, CA2116 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 Street, Manhattan Beach, CA417 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, Manhattan Beach, CA10 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 Avenue, Manhattan Beach, CA1605 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: 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".  


Please see our blog disclaimer.

Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.

Based on information from California Regional Multiple Listing Service, Inc. as of July 18th, 2024 at 7:10am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.