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."

Get-Ticker-300

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

Welcome To 420 5th Street, From The Exterior To...

OPEN HOUSE

420 5th Street

Manhattan Beach, CA

  • 5 BR
  • 7 BA
  • 4,282 SqFt.
  • 2,699 Lot

$6,845,000

Active

DOM: 26

Price:
$6,845,000
BR/BA:
5br / 7ba
Sq. ft.:
4,282
Area:
142 - Manhattan Bch Sand
City:
Manhattan Beach
DOM:
26

A Modern Approach To Beach Living. Truly A One...

RECENT PRICE CUT

224 29th Street

Manhattan Beach, CA

  • 5 BR
  • 6 BA
  • 5,219 SqFt.
  • 3,155 Lot

$8,999,000

Active

DOM: 153

Price:
$8,999,000
BR/BA:
5br / 6ba
Sq. ft.:
5,219
Area:
142 - Manhattan Bch Sand
City:
Manhattan Beach
DOM:
153
ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 300 N Dianthus Street BD/BA 6br/6ba SQFT 5500 sqft LOT 7565 PRICE $6,999,000 $PSF $1,273 DOM 12 DOM START $ $6,999,000 START 10/06/21
Address 219 Anderson Street BD/BA 6br/7ba SQFT 6483 sqft LOT 8141 PRICE $10,000,000 $PSF $1,542 DOM 18 DOM START $ $10,000,000 START 09/30/21
Address 2804 The Strand BD/BA 3br/4ba SQFT 3469 sqft LOT 3481 PRICE $16,499,000 $PSF $4,756 DOM 19 DOM START $ $16,499,000 START 09/29/21
Address 420 5th Street BD/BA 5br/7ba SQFT 4282 sqft LOT 2699 PRICE $6,845,000 $PSF $1,599 DOM 26 DOM START $ $6,845,000 START 09/22/21
Address 2522 The Strand BD/BA 3br/4ba SQFT 2740 sqft LOT 3498 PRICE $8,500,000 $PSF $3,102 DOM 68 DOM START $ $8,500,000 START 08/11/21
Address 808 The Strand BD/BA 4br/5ba SQFT 2911 sqft LOT 5070 PRICE $11,695,000 $PSF $4,018 DOM 81 DOM START $ $11,695,000 START 07/30/21
Address 235 No. Dianthus Street BD/BA 5br/5ba SQFT 5700 sqft LOT 6500 PRICE $7,900,000 $PSF $1,386 DOM 101 DOM START $ $9,300,000 START 06/18/21
Address 868 9th Street BD/BA 5br/6ba SQFT 5526 sqft LOT 5795 PRICE $8,999,000 $PSF $1,628 DOM 122 DOM START $ $9,868,000 START 06/18/21
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $12,000,000 $PSF $2,807 DOM 131 DOM START $ $12,000,000 START 04/07/21
Address 224 29th Street BD/BA 5br/6ba SQFT 5219 sqft LOT 3155 PRICE $8,999,000 $PSF $1,724 DOM 153 DOM START $ $9,500,000 START 05/18/21
Address 424 20th Street BD/BA 8br/10ba SQFT 6073 sqft LOT 5148 PRICE $6,995,000 $PSF $1,152 DOM 166 DOM START $ $6,995,000 START 05/05/21

 

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