MB Market Update for 5/1/16

By Dave Fratello | May 3rd, 2016

The second half of April saw a drop in inventory below 100 for a short time, though the month ended at 103 listings.

At the same time last year, there were 56 active listings. (See our 5/1/15 update here.)

3009 North Poinsettia Avenue Manhattan Beach CAThere was a lot to say about the Tree Section during this period. For instance, note the big sale of a custom Cape Cod at 3009 N. Poinsettia (4br/4ba, 3600 sqft.) at $3.700M – well over $1,000/PSF.

That number bested the $3.500M secured by the smaller new construction just a couple of blocks away at 3101 Maple (5br/5ba, 3200 sqft.) early this year.

3521 Walnut Avenue Manhattan Beach CADuring this same period, two more large and new/newer Tree Section homes east of Pacific and north of Valley also closed, but for much less: 3113 Walnut (5br/5ba, 3320 sqft.) at $3.180M and 3521 Walnut (5br/4ba, 3400 sqft.) (pictured), a recently redone wonder on a block that's simply not our fave, at $3.050M.

This period, also, you had the eye-popping (and quick) sale of the 2-home "compound" at 3305 Pine for $6.750M. (See "Tree Section Compound is Top Sale Again.") And there was good absorption of listings in the Tree Section, notable for the quickness of it all, as we discussed in our blog post, "Clearing Out the Trees."

If the Trees are alright, maybe it's time to focus a little more on the bulges in the Sand Section and east of the highway. Watch for more analysis there.

Here's the rest of our local real estate market update report for the period ending 5/1/16:

  • 103 active listings as of 5/1/16 (-8 from 4/15/16)
  • 84 SFRs (-7)
  • 19 THs (-1)

See the inventory list as of 5/1/16 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 25 actives (-7)
  • Sand Section38 actives (+2)
  • Hill Section14 actives (-2)
  • East MB26 actives (-1)

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 5/1/16."

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