MB Market Update for 7/15/17

By Dave Fratello | July 19th, 2017

Inventory tends to rise in the Summer, so the upward bump to 115 active listings in MB as of mid-July shouldn't be a big surprise. 

It's basically good news, though, that this year we're not as high as last year. On July 15, 2016, inventory hit its peak for 2016 at 133 listings.

222 17th Street Manhattan Beach CAThe growth in inventory in the Sand Section to 56 active listings now also simply continues a 2017-long trend, so it's not a big shock. There is a difference here, though, over 2016. When inventory was 14% higher citywide, the Sand Section had "only" 44 listings. (Pictured here is 222 17th, one of the 56 active listings as of 7/15.)

Put it this way. Inventory citywide is down 14% year-over-year, but Sand Section inventory is up 27%. 

We'll take a look at high, high, high-end inventory and sales in a moment. First, the numbers from our local real estate market update report for the period ending 7/15/17:

  • 115 active listings as of 7/15/17 (+4)
  • 99 SFRs (+3)
  • 16 THs (+1)

See the inventory list as of 7/15/17  here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 22 actives (+2)
  • Sand Section: 56 actives (+4)
  • Hill Section: 9 actives (-3)
  • East MB: 28 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 7/15/17."

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OK, now, as promised...

233 S Meadows Avenue Manhattan Beach CAAs we examined the data for this mid-month report, we noted something that really stands out. As of July 15, there were 22 active listings in Manhattan Beach priced at $6 million or above. (This image is from 233 S. Meadows, East MB's priciest offering and a jaw-dropper on a huge lot. Now at $7.480M.)

Last year: 17. In 2015: just 7.

And in 2014: only 4.

Now, if there are 22 Manhattan Beach homes offered over $6M, what's the demand like up there in the stratosphere?

In all of calendar year 2014: 12 sales over $6M. In 2015-16, 9 each year.

This year: 15 sales of $6M+ year to date. (For all of this data, we're relying on MLS-reported sales. So we might miss a few off-market sales here and there.)

What an interesting picture, right?

Lots more inventory over $6M, but also a much faster pace of sales over $6M.

It's not a glut if there's demand.

Here are all of the active listings over $6M in Manhattan Beach as of today. These will update any time you review the post to be current and up to the minute.

Manhattan Beach Listings Over $6 Million

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 1215 Fisher Avenue BD/BA 5br/7ba SQFT 5400 sqft LOT 3000 PRICE $7,995,000 $PSF $1,481 DOM 2 DOM START $ $7,995,000 START 01/18/19
Address 2304 The Strand BD/BA 3br/3ba SQFT 2360 sqft LOT 3497 PRICE $9,950,000 $PSF $4,216 DOM 2 DOM START $ $9,950,000 START 01/18/19
Address 120 5th Street BD/BA 4br/6ba SQFT 5000 sqft LOT 2706 PRICE $9,925,000 $PSF $1,985 DOM 6 DOM START $ $9,925,000 START 01/14/19
Address 212 18th Street BD/BA 5br/6ba SQFT 4269 sqft LOT 2703 PRICE $6,980,000 $PSF $1,635 DOM 15 DOM START $ $6,980,000 START 01/05/19
Address 212 16th Street BD/BA 4br/5ba SQFT 4100 sqft LOT 2700 PRICE $8,795,000 $PSF $2,145 DOM 28 DOM START $ $8,795,000 START 12/04/18
Address 424 20th Street BD/BA 8br/10ba SQFT 6073 sqft LOT 5148 PRICE $7,395,000 $PSF $1,218 DOM 107 DOM START $ $7,995,000 START 10/05/18
Address 1026 Pacific Avenue BD/BA 6br/8ba SQFT 7161 sqft LOT 6006 PRICE $8,395,000 $PSF $1,172 DOM 131 DOM START $ $8,800,000 START 09/05/18
Address 2615 Crest Drive BD/BA 3br/6ba SQFT 3216 sqft LOT 1752 PRICE $6,499,000 $PSF $2,021 DOM 137 DOM START $ $6,999,000 START 09/06/18
Address 814 10th Street BD/BA 6br/8ba SQFT 8963 sqft LOT 12015 PRICE $8,995,000 $PSF $1,004 DOM 166 DOM START $ $9,550,000 START 08/07/18
Address 304 N Ardmore Avenue BD/BA 5br/6ba SQFT 6342 sqft LOT 7095 PRICE $7,199,000 $PSF $1,135 DOM 172 DOM START $ $7,199,000 START 08/01/18
Address 3400 The Strand BD/BA 5br/6ba SQFT 5468 sqft LOT 3502 PRICE $18,300,000 $PSF $3,347 DOM 192 DOM START $ $19,300,000 START 07/12/18
Address 224 16th Street BD/BA 5br/5ba SQFT 4224 sqft LOT 2698 PRICE $7,195,000 $PSF $1,703 DOM 227 DOM START $ $7,195,000 START 06/07/18
Address 3416 The Strand BD/BA 5br/5ba SQFT 3934 sqft LOT 3494 PRICE $11,995,000 $PSF $3,049 DOM 283 DOM START $ $12,395,000 START 04/12/18
Address 127 16th Street BD/BA 5br/3ba SQFT 2157 sqft LOT 2700 PRICE $7,200,000 $PSF $3,338 DOM 544 DOM START $ $7,200,000 START 07/25/17

 

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