MB Market Update for 2/15/17

By Dave Fratello | February 17th, 2017

At this moment last year, there were 70 homes on the market. Now, 93.

And 2013-15? Low 40s.

So that upward trend in inventory that we were anticipating post-Super Bowl is taking hold.

The increase is all west of Sepulveda, with the most drastic rise in the Sand Section, which went from 32 listings to 45 over just 2 weeks.

Meantime, some listings are selling, too. From among publicly listed inventory, we count 8 homes going into escrow between Feb. 1-15, including:

1240 5th Street Manhattan Beach CA1240 5th (6br/7ba, 10,000 sqft.), an opulent manse with a huge lot on a private drive just east of Sepulveda.

Listed at $7.500M this year, the property had been offered in 2012, 2013, 2014 and 2016, mostly at higher prices.

This year, it needed only about a month to find a match.

24 Bermuda Ct. (3br/3ba, 2075 sqft.), a nicely remodeled Village TH that featured essentially an enclosed yard. Very rare. Offered at $1.550M, and had a deal within a week.

1728 Laurel Avenue Manhattan Beach CA1728 Laurel (6br/5ba, 3650 sqft.), a custom build in a good Martyrs area location. This one had been offered for a spell last year at $3.999M but no one got in, despite virtually clamoring to see it.

This time, with a higher price ($4.100M), the doors were opened at last, and people were willing to do almost anything to get it. A quick deal posted within a week.

525 23rd (3br/2ba, 1400 sqft.), a  gaslamp area original, super cute if you might want to keep or expand it, otherwise just a super location. Sold with 4 DOM and a list price of $2.000M.

Here's the rest of our local real estate market update report for the period ending 2/15/17:

  • 93 active listings as of 2/15/17 (+19 from 2/1/17)
  • 78 SFRs (+15)
  • 15 THs (+4)

See the inventory list as of 2/15/17 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 23 actives (+9)
  • Sand Section: 45 actives (+13)
  • Hill Section: 10 actives (same)
  • East MB: 15 actives (-3)

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 2/15/17."

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