MB Market Update: 12/15/13

By Dave Fratello | December 16th, 2013

It's time for one of our twice-monthly updates on the Manhattan Beach real estate market.

Here's the quick overview on active inventory:

  • 24 active listings as of 12/15/13
  • 21 SFRs (-4 from 11/30)
  • 3 THs (-4 from 11/30)

Yikes, that's yet another new low for the year.

Half a month ago, 32 listings carved out a bottom. Now we've got a basement below that.

Active listings by region of Manhattan Beach:

  • Tree Section: 7 actives (-2 from 11/30)
  • Sand Section: 7 actives (-6) 
  • Hill Section: 3 actives (flat)
  • East MB: 7 actives (flat)

It's one thing to note the limited inventory, but it's not like there are a lot of mainstream properties just lingering among this small selection.

Nine of the 24 listings are priced over $4M. Six more are between $2M-$4M. Just 2 are under $1M, and that includes a Village 2br and one is a 2br condo on MBB. (Update: A tenth high-priced listing came [back] to market late Monday; see the note below.)

Practically speaking, that means that the traditional notion of using the holiday season to shop for bargains does not seem to apply this year. There aren't a lot of listings hanging around hoping to stand out and finally draw a buyer.

Those top-tier listings, for instance, were always going to take a while to find the right buyers. They're not going to take lowballs now just because Santa's on the way.

You can see the complete report on active listings, with live links to every property, in this single spreadsheet on our data blog: "MB Inventory as of 12/15/13."

We're also providing a report on pending and closed sales by region of MB.

Sales are organized by sub-region of Manhattan Beach.

Here's a link to the spreadsheet on our data blog: "MB Pending/Sold as of 12/15/13."

For closed sales, we provide the past 6 months' worth of sales by region. This is the typical window of time used by appraisers.

Remember, these links are always live under the top "navbar" of the home page, right under "MB Market Updates."

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UPDATE: After this post went up, late Monday the big deal from last week fell apart. They had posted 1420/1422 The Strand in escrow last week with a list price of $14.500M. But that only held a few days.

This would now be the 10th of 25 listings priced above $4M. Of course it's outside the window of the actual market update, which goes through 12/15 only.

Please see our blog disclaimer.

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