MB Market Update: 3/31/14

By Dave Fratello | April 1st, 2014

It's April 1, folks, and you should be on guard for tricks.

Oh, there, we've blown it. But we've had our fun here in years past.

Consider 2013's "7-Day Moratorium on Purchases," or 2009's post about Obama regulating real estate prices.

Today, though, it's just the facts, Jack. Really.

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 3/31/14.

Here's the quick overview on active inventory (click here for the list as of 3/31):

  • 50 active listings as of 3/31/14 (+8 from 3/15/14, +17 from 3/1/14)
  • 43 SFRs (+6)
  • 7 THs (+2)

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

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 14 actives (-1 from 3/15/14)
  • Sand Section: 7 actives (-1)
  • Hill Section: 8 actives (+4)
  • East MB: 21 actives (+6)

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 3/31/14."

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.

This period seemed to be the time for little cottages in the Tree Section:

  • 1500 Poinsettia (3br/2ba, 1230 sq. ft.) is a charming late-1940s cottage with a 3rd bedroom added in the 1950s, and some updates from the mid-90s. This one made a deal, with multiple offers, immediately before hitting the MLS in early March, and has sold for $1.399M. (Dave's clients purchased it.)
  • 1500 Walnut (3br/2ba, 1200 sq. ft.) is ultra cute and utterly modernized, with an open kitchen/great room and updated baths. Almost too delightful. Listed at $1.499M this month, this one is entertaining offers as we write and seems certain to get bid up due to its "must have" qualities. (Disclosure: Dave is friendly with the sellers.)
  • 1600 Poinsettia (2br/1ba, 920 sq. ft.) is Dave's new listing this period, a very nice, if largely original, 2br sharing the family-friendly location benefit of 1500 Poinsettia, being right across from vast Center Field and a close walk to school and town. It's listed at $1.350M.
  • 1404 Pine (3br/2ba, 1165 sq. ft.) actually shows as a 2br, because they opened up the wall between 2 small bedrooms at the same time as they opened up the main living spaces and kitchen to create one big great room. This one listed at $1.499M and made its deal during this period, going into escrow March 24.

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