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 808 The Strand BD/BA 4br/5ba SQFT 2911 sqft LOT 5070 PRICE $11,695,000 $PSF $4,018 DOM 3 DOM START $ $11,695,000 START 07/30/21
Address 124 11th Street BD/BA 4br/5ba SQFT 3966 sqft LOT 2711 PRICE $8,750,000 $PSF $2,206 DOM 18 DOM START $ $9,450,000 START 07/15/21
Address 511 Pacific Avenue BD/BA 5br/9ba SQFT 7961 sqft LOT 9355 PRICE $7,950,000 $PSF $999 DOM 35 DOM START $ $7,950,000 START 06/29/21
Address 2508 The Strand BD/BA 4br/6ba SQFT 4554 sqft LOT 3502 PRICE $12,999,000 $PSF $2,854 DOM 40 DOM START $ $12,999,000 START 06/16/21
Address 235 No. Dianthus Street BD/BA 5br/5ba SQFT 5700 sqft LOT 6500 PRICE $8,900,000 $PSF $1,561 DOM 45 DOM START $ $9,300,000 START 06/18/21
Address 868 9th Street BD/BA 5br/6ba SQFT 5526 sqft LOT 5795 PRICE $9,868,000 $PSF $1,786 DOM 45 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 54 DOM START $ $12,000,000 START 04/07/21
Address 504 John Street BD/BA 5br/5ba SQFT 4783 sqft LOT 7003 PRICE $9,499,000 $PSF $1,986 DOM 59 DOM START $ $9,499,000 START 06/04/21
Address 853 10th Street BD/BA 7br/10ba SQFT 7606 sqft LOT 11999 PRICE $8,199,999 $PSF $1,078 DOM 73 DOM START $ $8,688,000 START 05/21/21
Address 1516 The Strand BD/BA 4br/4ba SQFT 4953 sqft LOT 3330 PRICE $17,900,000 $PSF $3,614 DOM 76 DOM START $ $17,900,000 START 05/18/21
Address 224 29th Street BD/BA 5br/6ba SQFT 5219 sqft LOT 3155 PRICE $9,500,000 $PSF $1,820 DOM 76 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 89 DOM START $ $6,995,000 START 05/05/21
Address 4112 The Strand BD/BA 4br/4ba SQFT 2550 sqft LOT 3507 PRICE $7,490,000 $PSF $2,937 DOM 91 DOM START $ $7,490,000 START 05/03/21
Address 508 The Strand BD/BA 5br/6ba SQFT 4325 sqft LOT 3337 PRICE $19,900,000 $PSF $4,601 DOM 137 DOM START $ $19,900,000 START 03/18/21
Address 224 32nd Street BD/BA 4br/5ba SQFT 4268 sqft LOT 2698 PRICE $7,000,000 $PSF $1,640 DOM 312 DOM START $ $7,499,000 START 07/17/20

 

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