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 2912 The Strand BD/BA 5br/3ba SQFT 3640 sqft LOT 4919 PRICE $11,750,000 $PSF $3,228 DOM 3 DOM START $ $11,750,000 START 04/05/21
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $12,000,000 $PSF $2,807 DOM 6 DOM START $ $12,000,000 START 04/07/21
Address 919 1st Street BD/BA 4br/4ba SQFT 2700 sqft LOT 8599 PRICE $8,300,000 $PSF $3,074 DOM 19 DOM START $ $8,300,000 START 03/25/21
Address 220 8th Street BD/BA 4br/4ba SQFT 4195 sqft LOT 2709 PRICE $10,000,000 $PSF $2,384 DOM 19 DOM START $ $10,000,000 START 03/22/21
Address 216 7th Street BD/BA 4br/6ba SQFT 4800 sqft LOT 2702 PRICE $9,650,000 $PSF $2,010 DOM 20 DOM START $ $9,650,000 START 03/25/21
Address 508 The Strand BD/BA 5br/6ba SQFT 3963 sqft LOT 3337 PRICE $19,900,000 $PSF $5,021 DOM 26 DOM START $ $19,900,000 START 03/18/21
Address 825 Highview Avenue BD/BA 4br/5ba SQFT 4709 sqft LOT 5346 PRICE $10,195,000 $PSF $2,165 DOM 36 DOM START $ $10,195,000 START 03/03/21
Address 1516 The Strand BD/BA 4br/4ba SQFT 4953 sqft LOT 3330 PRICE $17,900,000 $PSF $3,614 DOM 56 DOM START $ $17,900,000 START 02/16/21
Address 3416 The Strand BD/BA 5br/5ba SQFT 3934 sqft LOT 3494 PRICE $11,500,000 $PSF $2,923 DOM 75 DOM START $ $11,500,000 START 01/28/21
Address 2316 The Strand BD/BA 6br/7ba SQFT 5715 sqft LOT 3503 PRICE $16,500,000 $PSF $2,887 DOM 139 DOM START $ $17,500,000 START 11/25/20
Address 224 32nd Street BD/BA 4br/5ba SQFT 4367 sqft LOT 2698 PRICE $6,999,997 $PSF $1,603 DOM 270 DOM START $ $7,499,000 START 07/17/20
Address 2016 Ocean Drive BD/BA 5br/6ba SQFT 5739 sqft LOT 2698 PRICE $14,000,000 $PSF $2,439 DOM 582 DOM START $ $14,000,000 START 09/09/19

 

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