Manhattan Beach Market Update for 3/15/21

By Dave Fratello | March 17th, 2021

The Spring season continues to get interesting.

Please be sure to take a look at our new listing by Edge Real Estate Agency at 1900 Lynngrove (click for the property website). This large home with a big backyard will be showing this weekend. You can book an appointment through the website or now by using this link.

While Spring rolls forward, right now we're seeing the early-season sales closing.

Here are a few notable sales from the first part of March:

1716 8th Street Manhattan Beach CA1716 8th (4br/3ba, 4400 sqft.)

This "traditional" home (per the listing) bears a 1967 build date, officially, but a distinctly 1980s-early 90s vibe inside, with few truly modern upgrades beyond some granite countertops.

In a location east of Redondo Ave., the home has one big distinguishing feature: A lot about 10% bigger than most in the Mira Costa district, at 8250 sqft.

You could do a lot with that much backyard space.

In fact, you could plant a lot, and the outgoing owners had done that. It's a veritable victory garden out there, an homage to East Manhattan's past as the breadbasket of Manhattan Beach. (All that's missing is the goats and chinchillas.)

This property was going to sing to someone. (In fact, it sang to Mrs. MBC, among others.) The $2.799M list price must have been cautious, because the legions came and drove up the price, closing it at $3.185M (+$386K/+14%).

It's a good example both of where the market is at and how sometimes you just don't know if others will see everything in a property that you do, as a seller. Here, buyers went bananas (and lettuce, and cabbage, and thyme).

We're tracking a similar listing in East MB that began at a figure that seemed "too low," 1436 11th (6br/4ba, 3600 sqft.). It's in escrow now. We brought clients through early, they loved the house and pool and huge, sunny yard, but we all rapidly concluded that the $2.999M start price was nowhere near where it would settle.

We think of the Tree Section as the land of 4-5br homes, around 3000 sqft.. Traditional family suburban homes, in other words.

But the 3 sales closing in this period were all quite a bit smaller:

585 29th Street Manhattan Beach CA585 29th (4br/3ba, 2325 sqft.) got $2.935M, or $85K over asking. Just a novel, snappy remodel on a single level, with nice outdoor space and prime location. More than $1,250/PSF.

617 35th (4br/4ba, 2650 sqft.) is a nearly new-looking custom remodel. Sharp. Got asking price: $3.499M. And $1,320/PSF.

3213 N. Valley (3br/3ba, 1975 sqft.) is a tall-and-skinny with florid custom remodeling and great outdoor space in back. The 3rd bedroom, however, is more like a den opening to that yard. Got $1.950M (-$49K).

In the Sand Section, two distinctly different properties got the same price: $3.700M.

317 9th Street Manhattan Beach CA317 9th (2br/4ba, 1965 sqft.) is a newer, ultra-custom 2br on a half-lot on a prime walkstreet corner near town.

It boasts a French-country garden aesthetic, mixed with a confident modern vibe in parts of the interior. Lots of foldaway doors, some ocean views and close proximity to town... it found its match.

333 19th (5br/3ba, 2150 sqft.) is an upgraded 1950s house on an upper walkstreet with some views. They made a lot out of what was there, although the home is hardly modern. With land values on these walkstreets often in the 3.4-3.6 range, it will be interesting to see what the buyers do over time.

Here's the rest of our local real estate market update report for the period ending 3/15/21:

> 78 active listings as of 3/15/21 (-4 from 2/28/21) 

> 49 SFRs (-10)

> 29 THs (-6)

See the Inventory list as of 3/15/21 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

> Tree Section: 14 actives (-1)

> Sand Section: 41 actives (-2)

> Hill Section: actives (+1)

> East MB: 17 (-2)

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 3/15/21".

Please see our blog disclaimer.

Latest Listings Among
Manhattan Beach Homes For Sale