MB Market Update for 5/15/17

By Dave Fratello May 18th, 2017.

There's been one good development in the Sand Section. It's the only area to see a reduction in inventory in the first part of this month.

That drop in the Sand is thanks to 10 new escrows in this 2-week period. Buyers were making their moves.

Included in the recent new escrows:

100 Morningside Drive Manhattan Beach CA100 Morningside (6br/6ba, 5000 sqft.), listed twice in the past year at $6.500M without a sale, re-listed at $6.600M and now in escrow.

3100 Alma (3br/4ba, 2400 sqft.), a corner-lot Spanish with nice views, asking $2.999M.

453 and 457 34th, essentially a double lot purchase. List prices were $1.899M and $2.499M, so call that $4.3M for the two.

2702 The Strand (3br/4ba, 1900 sqft.), a decent rear TH actually one up off The Strand, which ran several months last year and now has a deal after cutting to $4.995M.

308 19th Street Manhattan Beach CA308 19th (4br/6ba, 4015 sqft.), new construction just a few doors up off of Highland on one of the walkstreets near town. This one emerged at $7.500M and had cut to $6.900M when a buyer came. This will be a new record for the area.

440 32nd (5br/5ba, 4200 sqft.), a newer modern on the plateau that might well be a record for that area, also. Listed at $3.999M and found a buyer almost immediately. 

So that's $30M in beach area real estate that got tied up in a short period, and that's without mentioning all the sales in the Sand.

There's no specific pattern to these sales. Some had been on the market only a few days, some had significant time on market. Price points were high overall.

Now, as to the other 55 listings remaining in the Sand...

Here's the rest of our local real estate market update report for the period ending 5/15/17:

  • 109 active listings as of 5/1/17 (+3 from 5/1/17)
  • 96 SFRs (+4)
  • 13 THs (-1)

See the inventory list as of 5/15/17  here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 19 actives (+2)
  • Sand Section: 55 actives (-4)
  • Hill Section: 13 actives (+2)
  • East MB: 22 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 5/15/17."

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