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 2104 Flournoy Road BD/BA 5br/5ba SQFT 4300 sqft LOT 8617 PRICE $6,995,000 $PSF $1,627 DOM 4 DOM START $ $6,995,000 START 01/21/20
Address 216 13th Street BD/BA 5br/5ba SQFT 4620 sqft LOT 2706 PRICE $7,999,000 $PSF $1,731 DOM 51 DOM START $ $7,999,000 START 12/05/19
Address 308 20th Pl (aka 309 20th Street) Place BD/BA 5br/5ba SQFT 4200 sqft LOT 2709 PRICE $6,995,000 $PSF $1,665 DOM 53 DOM START $ $6,995,000 START 12/03/19
Address 676 18th Street BD/BA 6br/8ba SQFT 5843 sqft LOT 6434 PRICE $6,650,000 $PSF $1,138 DOM 76 DOM START $ $6,650,000 START 11/10/19
Address 504 1st Street BD/BA 5br/7ba SQFT 5400 sqft LOT 5293 PRICE $6,499,000 $PSF $1,204 DOM 76 DOM START $ $6,499,000 START 10/31/19
Address 3301 Pine Avenue BD/BA 5br/7ba SQFT 5723 sqft LOT 9283 PRICE $6,750,000 $PSF $1,179 DOM 87 DOM START $ $6,750,000 START 10/30/19
Address 2016 Ocean Drive BD/BA 5br/6ba SQFT 5739 sqft LOT 2698 PRICE $14,000,000 $PSF $2,439 DOM 138 DOM START $ $14,000,000 START 09/09/19
Address 501 N 18th Street BD/BA 5br/8ba SQFT 6126 sqft LOT 6688 PRICE $7,150,000 $PSF $1,167 DOM 146 DOM START $ $7,150,000 START 09/01/19
Address 224 16th Street BD/BA 5br/5ba SQFT 4224 sqft LOT 2698 PRICE $7,195,000 $PSF $1,703 DOM 161 DOM START $ $7,295,000 START 08/17/19
Address 3400 The Strand BD/BA 5br/6ba SQFT 5478 sqft LOT 3502 PRICE $15,900,000 $PSF $2,903 DOM 166 DOM START $ $16,750,000 START 08/12/19
Address 116 4th Street BD/BA 4br/5ba SQFT 4226 sqft LOT 2692 PRICE $15,900,000 $PSF $3,762 DOM 172 DOM START $ $15,900,000 START 08/06/19
Address 4122 The Strand BD/BA 5br/5ba SQFT 4154 sqft LOT 3503 PRICE $6,700,000 $PSF $1,613 DOM 238 DOM START $ $7,200,000 START 06/01/19
Address 1000 The Strand BD/BA 9br/8ba SQFT 5967 sqft LOT 4979 PRICE $25,900,000 $PSF $4,341 DOM 333 DOM START $ $25,900,000 START 02/26/19
Address 2304 The Strand BD/BA 3br/3ba SQFT 2360 sqft LOT 3497 PRICE $7,950,000 $PSF $3,369 DOM 347 DOM START $ $9,950,000 START 01/18/19

 

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