Manhattan Beach Market Update for 8/15/22

By Dave Fratello | August 16th, 2022

As Summer winds down and kids get ready to go back to school, we're seeing closings all over town among the early-Summer sales.

In our market updates, we like to take a look at notable sales from the period, so here we go, after a disclaimer.

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PLEASE NOTE: Below, we discuss listings from the Manhattan Beach market, listed and brokered by a variety of agents and firms. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property. Blog author Dave Fratello of Edge Real Estate Agency is not the listing agent or buyer's agent unless so stated with the listing. Click on any property address or photo to open a new page with full listing details, all photos, listing broker and agent information, and other MLS information. Any observations and comments about listings represent the professional judgments and opinions of the author, Dave Fratello, not the listing brokers or agents. Please see our blog disclaimer.

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2613 Vista (3br/2ba, 1836 sqft.) is a charming 1960s 2-story SFR on a half lot that's also 1836 sqft., just like the building. (We checked tax records.)

Funny, how often does a home have the same amount of interior square footage as the lot size? Discuss.

The home benefits from strategically important updates like kitchen and baths, and showed with splendor and style thanks to playful decor.

The listing advertised ocean views, but more on that in a moment. (Note: 2613 Vista was listed by Jennifer Merritt of Vista Sotheby's International Realty.)

Asking $2.599M in late June, this one was under contract within 6 days for more.

Closed price: $2.700M.

Now, about those ocean views. This could become a sore subject.

2612 Alma Avenue Manhattan Beach CAThe front neighbor is 2612 Alma (3br/2ba, 1233 sqft.).

Though featuring a smaller lot (1670 sqft.), this home is on the "front row" along Alma, with potential for ocean views that cannot be blocked (especially down a nearby alley).

2612 Alma sold in May for $2.600M. (Note: The home was listed by Don Ruane of Real Estate West, Inc.)

Fully built to 3 stories, this one would likely eliminate views from 2613 Vista. Fortunately, the buyer for the back home had the benefit of knowing the situation for the front property by the time they bought 2613.

2617 Vista Drive Manhattan Beach CALess fortunately, an Oct. 2021 sale of an affected neighboring property at 2617 Vista likely could not have included such knowledge.

2617 Vista (4br/4ba, 2810 sqft.) is a truly marvelous rear-unit 2018-built townhome that traded for $5.000M in Oct. 2021, and is now on the market again, currently asking less, $4.699M. (Note: Currently listed by June Emerson, Vista Sotheby’s International Realty.)

2617 currently enjoys nice ocean views, but the risk to those views appears to have emerged remarkably soon after acquisition. A warning of sorts.

3203 Vista Drive Manhattan Beach CAReminds us of a part of the new listing for 3203 Crest (5br/5ba, 3178 sqft.), a newer, rear, half-lot home with current ocean views. (Listed by Daniel O'Connor, Pacifica Properties Group, Inc.)

As we noted in our new-listings post, the description for Crest says: "Property located to the West has a height restriction easement which may provide protected ocean views."

That's nice to have, if you can get it.

2311 Palm Avenue Manhattan Beach CAOver in the Tree Section, the upgraded, ultra-custom 90s modern at 2311 Palm (4br/4ba, 3588 sqft.) closed in this period. (Listed by Robb Stroyke of Bayside.)

No question, the home was inspiring but also a bit quirky.

Its location, on one of the prettiest 2-block stretches in the Tree Section, was inspiring but not quirky.

When Palm came out, it was pretty much alone at the price point ($3.995M asking), and it drew all the attention, getting bid up.

Closed price: $4.350M.

That overbid somewhat beat a little recent trend, with 6 of the prior 9 sales in the Trees taking less than asking.

7 Laguna Court Manhattan Beach CAOver on the East side, we'll make a stop in Manhattan Village.

We're looking at 7 Laguna Court (3br/3ba, 1876 sqft.), which has just closed for $1.725M. (It was listed by Tony Puma of Palm Realty Boutique, Inc.)

That final price was down from the last asking of $1.750M, and quite a bit down from the $1.999M start price in early June.

As we noted in a recent blog roundup of listings in Manhattan Village, the most recent Plan 3 unit to sell was 29 Marin Ct. (3br/3ba, 1876 sqft.) in April at $1.800M. (Listed by Cindy Kawata of RE/MAX Estate Properties.)

While updated in large part, Marin's baths still had some  original features (tub/shower combos), and was less updated in a few other ways that Laguna. So the arguably superior unit has now sold for less.

Both these sales are a step down from the $1.925M paid for 28 Bermuda Ct. in November 2021 (another Plan 3, this one listed by Steve Legare of West Shores Realty, Inc.).

That one on Bermuda had just been spectacularly, fully remodeled, and seems to remain the high water mark for Plan 3 units.

Here's the rest of our local real estate market update report for the period ending 8/15/22:

> 63 active listings as of 8/15/22 (flat from 7/31/22) 

> 54 SFRs (-1)

> THs (+1)

See the Inventory list as of 8/15/22 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 (flat)

> Sand Section: 25 actives (+2)

> Hill Section: 16 actives (+2)

> East MB: (-4)

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 8/15/22".

Please see our blog disclaimer.

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