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Half the Action's East - Manhattan Beach Market Update for 3/15/24

 

In regular times, about twice the number of home sales in Manhattan Beach will occur west of Sepulveda as you'd see east.

For instance, spanning back 5 years, there were 1261 sales west of the highway, and just 637 on the east side.

But the first part of March this year saw a curious pattern: Half the 14 new escrows were in East Manhattan:

EAST MB PENDING SALES

ADDRESSBD/BASQFTLOTPRICE$PSFDOMSTART $START
1600 21st Street 3/2 1,209 5,013 $2,000,000 $1,654 9 $2,000,000 03/07/24
1616 18th Street 3/2 1,356 4,887 $1,799,000 $1,327 23 $1,799,000 02/22/24
1821 N Herrin Street 3/3 1,960 6,385 $2,300,000 $1,173 37 $2,300,000 02/08/24
1627 Ruhland Avenue 5/6 4,623 7,497 $5,299,888 $1,146 15 $5,299,888 03/01/24
1827 9th Street 3/2 1,691 7,502 $1,999,000 $1,182 18 $1,999,000 02/12/24
1531 Ruhland Avenue 4/3 1,838 7,040 $2,150,000 $1,170 9 $2,150,000 02/22/24
1712 Ruhland Avenue 3/2 1,286 7,506 $1,999,000 $1,554 7 $1,999,000 02/21/24

That's not common and won't repeat much, but it's an interesting development in a market that still lacks a large amount of inventory.

You might immediately notice something about that crop of listings: All but one were asking close to $2M. 

And all but one (that new construction) were less than 2000 sqft. in size.

It's all related to the fact that little, old houses are hot, as we noted last week.

Two more smaller homes east of the highway debuted last week, and might find their buyers soon, if recent history is any guide.

The only sub-2000 sqft. listing in East Manhattan not to find immediate purchase has been 1141 Tennyson (3br/2ba, 1528 sqft.), on a corner at the edge of the Poets Section. It's at $2.195M (listed by Jeremiah Carew, Three Leaf Realty Inc.).

NOTE: While 1712 Ruhland was listed as a pending sale in our 3/15 update, it actually closed this Monday for $2.210M (+$211K).

Here's the rest of our local real estate market update report for the period ending 3/15/24:

69 active listings as of 3/15/24 (+5 from 2/29/24) 

48 SFRs (+1)

21 THs (+4)

See the Inventory list as of 3/15/24 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 (-2)

> Sand Section: 36 actives (+4)

> Hill Section: actives (+1)

> East MB: 18 actives (+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 3/15/24".  


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 April 24th, 2024 at 5:40am 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.