MB Market Update for 12/31/19

By Dave Fratello | January 3rd, 2020

Reader note: We're skipping the open-house reviews this weekend, as there's again not much new. We'll look at some more data, though.

We've already provided a little background on how the year ended, pointing to how inventory ended 2019 at a modest level.

And we'll be looking back at lots more data from 2019 throughout January.

Hint: We wound up basically flat year-to-year in sales, prices a bit softer.

But let's look at some of the most recent sales in this period for our update.

In the last part of the month, there were 3 East MB sales around $1.4-$1.5M:

1221 Shelley Street Manhattan Beach CARedone 1221 Shelley (3br/2ba, 1300 sqft.) is nicely modernized. The home is down by the high school, on a 5700+ sqft. lot.

Asking was $1.599M, but it closed for $1.521M.

1408 Wendy (3br/2ba, 1600 sqft.) in Liberty Village backs up to Aviation, but has the (rare) benefit of a 2nd story placed over an original LV bungalow. Sold very close to asking at $1.393M.

And 1544 2nd (3br/2ba, 1350 sqft.) also neared asking price with a sale at $1.400M.

1852 6th Street Manhattan Beach CAA bigger discount came at 1852 5th (5br/3ba, 3675 sqft.).

This custom-built late-90s home is right up against Aviation Blvd.

The inside wanted updates, the backyard had gone fallow, and the home took 4+ months to sell.

The start at $2.225M looked reasonable, but the sale at $1.900M is what made it very compelling. There's a full 7500 sqft. lot, so plenty to work with.

Meantime, there a pair of El Porto SFRs sold on the last day of the year.

213 Seaview Street Manhattan Beach CAOne was 3-story 213 Sea View (4br/4ba, 1750 sqft.), a towering 2001 home originally with a Mediterranean style and with more recent, beachy stylistic updates.

And what a benefit: The next-door neighbor does not exist. That is, there's just a plot of paved land there. The neighbor one door further down bought the house between, razed it and made a yard/sports court.

How neighborly, to protect someone else's view!

213 Sea View began at $2.245M and sold for $2.160M. (Funny, we told a client after touring that is should sell closer to $2.150M.)

206 Moonstone Street Manhattan Beach CAMeantime, 206 Moonstone (4br/4ba, 1650 sqft.) was a different type of proposition.

An El Porto SFR, yes, but sharply redone in an ultra modern style. The roof deck is the big appeal. It's most of the top floor. The kitchen and a smallish common area upstairs open out to it. That's really your living room most of the year, with commanding ocean views in every direction. Wow.

Asking $2.399M, it sold for $2.185M.

You can contrast both with another recent El Porto SFR sale at 225 39th (3br/3ba, 1600 sqft.), a 2-story remodel with less of a view than the other 2 more recent sales, closer to Highland. It was asking $1.995M and closed for $1.900M.

For a while, there weren't many pure SFR comps in El Porto, but here you go.

Here's the rest of our local real estate market update report for the period ending 12/31/19:

  • 60 active listings as of 12/31/19 (-15 from 12/15/19) 
  • 48 SFRs (-12)
  • 12 THs (-3)

See the Inventory list as of 12/31/19 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 15 actives (-3)
  • Sand Section: 30 actives (-7)
  • Hill Section: actives (-1)
  • East MB: 11 (-4)

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 12/31/19".

Please see our blog disclaimer.

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