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 216 4th Street BD/BA 3br/5ba SQFT 2754 sqft LOT 1350 PRICE $7,499,000 $PSF $2,723 DOM 7 DOM START $ $7,499,000 START 06/29/22
Address 4016 The Strand BD/BA 4br/5ba SQFT 3500 sqft LOT 3465 PRICE $9,300,000 $PSF $2,657 DOM 16 DOM START $ $9,300,000 START 06/20/22
Address 3404 The Strand BD/BA 8br/8ba SQFT 5568 sqft LOT 3507 PRICE $14,250,000 $PSF $2,559 DOM 21 DOM START $ $14,250,000 START 06/15/22
Address 114 N Poinsettia Avenue BD/BA 6br/6ba SQFT 6400 sqft LOT 6753 PRICE $9,200,000 $PSF $1,438 DOM 27 DOM START $ $9,200,000 START 06/09/22
Address 1002 10th Street BD/BA 5br/6ba SQFT 6076 sqft LOT 9000 PRICE $8,500,000 $PSF $1,399 DOM 33 DOM START $ $8,500,000 START 06/03/22
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $10,995,000 $PSF $2,572 DOM 34 DOM START $ $10,995,000 START 06/02/22
Address 308 The Strand BD/BA 6br/8ba SQFT 6978 sqft LOT 3336 PRICE $36,000,000 $PSF $5,159 DOM 41 DOM START $ $36,000,000 START 05/26/22
Address 3000 The Strand BD/BA 3br/4ba SQFT 3949 sqft LOT 3514 PRICE $17,000,000 $PSF $4,305 DOM 49 DOM START $ $17,000,000 START 05/18/22
Address 817 Pacific Avenue BD/BA 3br/2ba SQFT 1510 sqft LOT 6254 PRICE $6,050,000 $PSF $4,007 DOM 55 DOM START $ $6,050,000 START 05/12/22
Address 200 S Poinsettia Avenue BD/BA 6br/6ba SQFT 5061 sqft LOT 6256 PRICE $7,999,999 $PSF $1,581 DOM 70 DOM START $ $7,999,999 START 04/27/22
Address 901 28th Street BD/BA 6br/8ba SQFT 5648 sqft LOT 6006 PRICE $6,249,000 $PSF $1,106 DOM 90 DOM START $ $6,249,000 START 04/07/22
Address 2522 The Strand BD/BA 3br/3ba SQFT 2660 sqft LOT 3498 PRICE $8,500,000 $PSF $3,195 DOM 106 DOM START $ $8,500,000 START 03/22/22
Address 235 N Dianthus Street BD/BA 5br/5ba SQFT 5152 sqft LOT 6501 PRICE $6,999,000 $PSF $1,359 DOM 139 DOM START $ $8,000,000 START 02/17/22
Address 3216 The Strand BD/BA 5br/8ba SQFT 7454 sqft LOT 3494 PRICE $30,000,000 $PSF $4,025 DOM 167 DOM START $ $30,000,000 START 01/20/22

 

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