MB Market Update: 4/15/14

By Dave Fratello | April 17th, 2014

With Easter right around the corner, 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 4/15/14.

Here's the quick overview on active inventory (click here for the list as of 4/15):

  • 49 active listings as of 4/15/14 (-1 from 3/31/14, +16 from 3/1/14)
  • 44 SFRs (+1)
  • 5 THs (-2)

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

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 12 actives (-2 from 3/31/14)
  • Sand Section: 11 actives (+4)
  • Hill Section: 5 actives (-3)
  • East MB: 21 actives (flat)

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 4/15/14."

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 first part of April was notable for activity in the Hill Section, which often has low inventory and high prices. Neither seemed much of a deterrent to making this a busy time:

New construction at 931 Boundary Place (5br/5ba, 3150 sq. ft.) drew multiple offers quickly with a list price of $2.599M. Watch it go up from there. Yes, it's on an alley, but it's also pleasing new construction in the "plantation" style and in the prestigious Hill Section. Nice bet by the spec builder.

853 6th (6br/6ba, 4925 sq. ft.) is a gorgeous "Tuscan" on a favorable alley corner lot, big ocean views unobstructed by the recently redone 1-level home to the west. The home felt like new. Sought $4.950M, but watch it go up from there.

856 9th (4br/4ba, 4300 sq. ft.) is a "French Mediterranean" with city views – even with an address like 6th Street's, the hill topography puts it on the opposite, non-ocean-view side – which came out at $3.399M and made a pretty quick deal.

Not to be forgotten, a little 2br remodel right next to downtown at 1102 Ardmore listed for $1.350M and made its deal in less than a month during this period also.

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