MB Market Update for 12/15/15

By Dave Fratello | December 18th, 2015

It's almost time to bid farewell to local friends for a spell and go see family, wherever they may be.

As the year winds down, inventory is at a major ebb. There's a little bit of sales activity, for instance these recent deals:

524 23rd Street Manhattan Beach CA524 23rd (4br/3ba, 1700 sqft.) is an expanded, one-level, mid-century home on a prime gaslamp district street. With some updating it can be something special.

Launched at $2.250M about 7 weeks ago, the listing took a $100K cut to $2.150M and finally drew offers (yes, more than one, in mid-December) after a week at the new price.

621 19th (3br/3ba, 2300 sqft.) is now in its third escrow. Launched at $2.450M and last seen at $2.200M.

804 23rd (5br/4ba, 3630 sqft.) is an aggressively modernized 90s Caliterranean on a busy street (Pacific). Launched at $3.2M, it was at $2.995M when a buyer came. Do you need more evidence that 3 is the new 2?

873 8th Street Manhattan Beach CA873 8th (4br/5ba, 4970 sqft.) is an early-90s custom Spanish that's ready for a remodel. In 5 months on market, they cut from $3.500M to $3.250M and are in escrow now.

Here's the rest of our local real estate market update report for the period ending 12/15/15:

  • 61 active listings as of 12/15/15 (-5 from 12/1)
  • 49 SFRs (-7)
  • 11 THs (+1)

See the inventory list as of 12/15  here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section11 actives (-3)
  • Sand Section27 actives (-1)
  • Hill Section: 5 actives (-3)
  • East MB19 actives (+2)

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

Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach.

Here's a link to the spreadsheet: "MB Pending/Sold as of 12/15/15."

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