Last week, we saw inventory of homes for sale in Manhattan Beach climb to a level it had not reached in the past 3 years: 83 homes for sale during a spell last Friday. (See "Inventory Booming – Now Double Last Year's.")
But homes sold, taking them off the board, and by the time we took our twice-monthly…
Last week, we saw inventory of homes for sale in Manhattan Beach climb to a level it had not reached in the past 3 years: 83 homes for sale during a spell last Friday. (See "Inventory Booming – Now Double Last Year's.")
But homes sold, taking them off the board, and by the time we took our twice-monthly inventory snapshot for the MB Confidential market update, inventory was down to "only" 78 listings. Now, again, as we post this update, on March 3 we are at 83 listings again. (UPDATE: Inventory rose to 85 by later in the day Thursday, a new 3-year peak.)
Interesting facts to amplify that feeling you have that options are growing:
- There were 25 new listings in Manhattan Beach over the 7-day period ending March 1.
- There were 38 listings holding open houses last weekend (Feb. 27-28).
Great homes are still selling. There seems not to be a flagging of demand. Buyers are essentially saying, "Keep 'em coming!" A few deals made on last week's new listings:
2500 Maple (4br/5ba, 3900 sqft.), a Tree Section remodel that was just recently completed.
Location on Valley seems not to have been a factor, nor was the somewhat unusual layout.
This is a great example of making a home the most it can possibly be. Asking $2.999M, it got immediate offers and had a deal posted by Monday morning.
2100 Pine (5br/5ba, 3175 sqft.) is a custom-built home that looked to be THE hot property in the Tree Section for the week.
This custom-built home reflects tremendous architectural vision, with an authentic feeling of classic Americana, mixed with modern design preferences where it matters most. Asking $3.099M, this one was in escrow by Tuesday evening.
762 31st is a lot sale on the "better" side of one of the Tree Section's very best streets, the tree-lined 31st St. west of Pacific. Building on these lots can get you a garage on a lower level on 30th St., tucked away under a home with its entry on 31st. List price was $1.900M, relatively low for a prime lot. They had a deal within 5 days.
Did anyone buy anything outside the Tree Section?
Why, yes. Another lot sale, in the Hill Section, at 407 N. Poinsettia, got fairly quick action despite what seemed like a rich asking price of $3.495M. More than one offer, so you knew it was a must-have.
Thinking bigger in the Hills, a Cape Cod estate at 872 6th has a deal, listed at... ready?... $9.499M. (This was not a new listing last week, but it's a big deal during our market update period.)
2416 Highland (3br/4ba, 2350 sqft.) was just one of 3 Sand Section townhomes to make deals recently. It's a boldly designed, yet functional modern with some really great views. Listed at $2.599M.
The other townhomes were 2909 Highland (3br/4ba, 2030 sqft.), asking $2.499M, and, finally, after 300 DOM, 3105 Vista (3br/4ba, 2400 sqft.), asking $2.295M.
There were deals east of the Highway, too – everything's on our spreadsheets.
Here's the rest of our local real estate market update report for the period ending 3/1/16:
- 78 active listings as of 3/1/16 (+8 from 2/15)
- 67 SFRs (+9)
- 11 THs (-1)
See the inventory list as of 3/1/16 here, or see the MB Dashboard for up-to-the-minute data.
Active listings by region of Manhattan Beach in this report:
- Tree Section: 22 actives (+5)
- Sand Section: 28 actives (+2)
- Hill Section: 9 actives (-1)
- East MB: 19 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 3/1/16."
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.