Many More $3M+ Sales in East MB in 2017

By Dave Fratello | December 13th, 2017

Around this time last year, we took at look at sales of new & newer homes in East Manhattan Beach.

We found at the time that only 14 "conventionally sized" homes had ever sold in East Manhattan for $3M or higher, with 6 of those in 2016.

By "conventionally sized," we're excluding the mega-lots that exist in some areas east of Sepulveda, and focused on homes on more typical lots around 7000-7500 sqft.

Guess what? This year, many more sales came in over $3M: 15 sales, to be exact.

That's right. In one year, the total number of $3M+ home sales on typical lots in East Manhattan has more than doubled.

So while 2016 had looked like a banner year, 2017 punched a hole through the scoreboard, lifted it up and tossed it out of the stadium.

Of the 15 $3M+ sales, there were 12 that were new construction, presented here in price order (as always, you can click on any property address to see all the details on any sold property):

1315 9th Street Manhattan Beach CA1315 9th (6br/8ba, 5585 sqft.) at $3.650M

1601 Nelson (6br/7ba, 5800 sqft.) at $3.550M

1540 Curtis (5br/5ba, 4400 sqft.) at $3.455M

1450 23rd (5br/7ba, 4750 sqft.) at $3.383M

1457 18th (5br/4ba, 4550 sqft.) at $3.325M

1633 Nelson (5br/6ba, 4430 sqft.) at $3.290M

1400 21st (5br/5ba, 4550 sqft.) at $3.225M (bought using Bitcoin, which clearly they should have held instead - they cashed these out at $1,000)

1541 Nelson Avenue Manhattan Beach CA1541 Nelson (5br/5ba, 4430 sqft.) at $3.125M

1657 Nelson (5br/6ba, 4350 sqft.) at $3.100M

1304 18th (6br/6ba, 4775 sqft.) at $3.100M

1747 Gates (5br/6ba, 4425 sqft.) at $3.075M

That's a dozen new homes over $3M. On the west side, in the Tree Section, another suburban area popular with families, there were 15 sales of new homes over $3M so far, putting East MB on about the same level.

Rounding out the East Manhattan sales over $3M, there was one (1420 3rd, $3.300M) was a 2014 custom build, and the last two were a 2005 build (1161 9th, $3.075M) and a 1991 build (1200 5th, $3.050M) that was recently totally remodeled.

There's one more new construction home at 1534 8th (5br/4ba, 4550 sqft.) that is pending on the MLS, and has been in escrow since it was first posted in September. They made a deal pre-completion, off-market/pre-market. The posted price is $3.600M. We'll have to wait to see if that closes this year, too.

We've remarked before that a trend toward quality and style has helped East Manhattan homes approach the kinds of values previously seen only west of Sepulveda. And of course, east of the highway, you get about 50% larger lots and 40% larger homes. It's not hard to see why a family may prefer to make their move to the 90266 just a little further east.

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