MB Market Update: 3/15/14

By Dave Fratello | March 18th, 2014

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

We do two updates a month, at mid-month and end of month. Data for these reports closed 3/15/14. (That's also the day we snapped this photo of MB showing off under the moonrise; photo taken from the pier.)

Here's the quick overview on active inventory (click here for the list as of 3/15):

  • 42 active listings as of 3/15/14 (+9 from 3/1/14)
  • 37 SFRs (+7)
  • 5 THs (+2)

This is basically the same level we were at in mid-February. Big swings of nearly 10 options from one report to the next are partly just quirks of when we take our scheduled snapshots of market activity.

What could change this market would be if we saw inventory push up into the 60s or 70s. That would mean more options competing against one another – instead of just buyers climbing over one another for the available listings.

See the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 15 actives (+5 from 3/1/14)
  • Sand Section: 8 actives (flat)
  • Hill Section: 4 actives (flat)
  • East MB: 15 actives (+4)

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: "MB Pending/Sold as of 3/15/14."

Among the highlights among sales this period, you have to look at the Hill Section:

  • 620 8th (6br/7ba, 7250 sq. ft.) is a newer (2006), true Hill Section estate, with a modest look on approach, but 3 levels of living space, terrific views and a backyard large enough for a pool, grassy area and covered outdoor room for entertaining. Several months ago, in reviewing this one (see "Hill Section Filling Out"), MBC said, "Yes, that's what you're supposed to get for $8M in the Hill Section." As it happens, Dave's client got it for $6.950M.
  • 250 S. Dianthus (5br/7ba, 8500 sq. ft.), also known as "Summerhill," occupies nearly 3 lots up near the top of the hill, and is built out in a detail-heavy, timeless, worldly fashion that echoes a great old European estate. It's been exposed for some time – 633 combined days on market between 2 separate listings. It quit the market in August 2013 at $7.950M, only to come back $2M higher. The most recent price was right between: $8.950M.
  • 880 11th (5br/5ba, 4100 sq. ft.) is a nice late-90s "Tuscan" with a courtyard setup. Had it not been located right along busy Poinsettia, it could have run into the 3's. Here, they listed for $2.850M and sold for $100K less, $2.750M.

In our report on closed sales, we provide the past 6 months' worth of sales by region. This is the typical window of time used by appraisers. The spreadsheets are useful to anyone tracking the market or trying to estimate the value of a home for purchase or sale.

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

Please see our blog disclaimer.

Latest Listings Among
Manhattan Beach Homes For Sale