A Big First Half (of January) - Manhattan Beach Market Update for 1/15/21

By Dave Fratello | January 21st, 2021

The first part of January is typically a quieter time in the market.

We're waiting for sales from late the prior year to close, mostly.

And close they did!

There were "only" 11 closings in the first half of January, but they totaled $50.2M.

1920 The Strand Manhattan Beach CAAll but 3 of those sales were over $3M, and one very big one, 1920 The Strand, at $16.250M, pushed the period to those lofty heights.

Among recent years, 2021's first half appears to have the highest dollar volume, beating 2017's first half total of $46.5M. (Is it getting boring to have Manhattan Beach real estate breaking records all the time? Because it won't go on forever.)

Since the market is relatively quiet, let's take a look at some of the month's big sales.

125 8th Street Manhattan Beach CANext behind 1920 The Strand was a lower walkstreet Cape Cod at 125 8th (5br/6ba, 4100 sqft.) at $7.790M.

A Hill Section lot sale at 868 5th came in at $4.200M.

Then there were 5 sales in the 3's:

716 Manhattan Ave. ($3.875M) - a newer SFR near town

309 Crest ($3.795M) - a new South End rear-unit TH

653 26th Street Manhattan Beach CA653 26th ($3.450M) - a well-located, late-90s Tree Section Cape Cod w/ upgrades (pictured)

1901 Elm ($3.385M) - Tree Section new construx on a corner

1405 Oak ($3.055M) - a newer Tree Section build (2017), just the third-ever sale on Oak above $3M, and this one, at ~3100 sqft., is quite a bit smaller than the others

Finally, there were some sub-$3M sales, hard as that may be to believe:

17 Cordoba Court Manhattan Beach CA17 Cordoba Ct. ($1.150M) - Dave's listing of an upgraded Plan 1 in the Village, sold $65K over the most recent comp (kitchen pictured)

2605 Alma #2 ($1.747M) - an upgraded, smallish TH

12 Dover Place ($1.570M) - an upgraded Plan 6 TH in the Village

Meantime, there's one seemingly notable note about inventory. At 80 listings on 1/15/21, we were 14 above last year's 66 listings at mid-month.

The big difference: More townhomes this year. There were 3 active in the Village, and 6 that are all part of a new development from 1821-1843 11th St., near Aviation.

Here's the rest of our local real estate market update report for the period ending 1/15/21:

> 80 active listings as of 1/15/21 (+1 from 12/31/20) 

> 56 SFRs (+2)

> 24 THs (-1)

See the Inventory list as of 1/15/21 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: 13 actives (+1)

> Sand Section: 39 actives (-1)

> Hill Section: 5 actives (flat)

> East MB: 23 (+1)

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 1/15/21".

Please see our blog disclaimer.

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