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 401 5th Street BD/BA 5br/6ba SQFT 4250 sqft LOT 2694 PRICE $6,495,000 $PSF $1,528 DOM 5 DOM START $ $6,495,000 START 06/19/19
Address 200 S Poinsettia Avenue BD/BA 6br/6ba SQFT 5061 sqft LOT 6256 PRICE $7,199,000 $PSF $1,422 DOM 18 DOM START $ $7,199,000 START 06/06/19
Address 320 7th Street BD/BA 5br/7ba SQFT 4259 sqft LOT 2703 PRICE $6,595,000 $PSF $1,548 DOM 18 DOM START $ $6,595,000 START 06/06/19
Address 4122 The Strand BD/BA 5br/5ba SQFT 4154 sqft LOT 3503 PRICE $7,200,000 $PSF $1,733 DOM 23 DOM START $ $7,200,000 START 06/01/19
Address 4117 The Strand (aka Ocean Dr) Drive BD/BA 5br/3ba SQFT 2804 sqft LOT 3500 PRICE $6,500,000 $PSF $2,318 DOM 23 DOM START $ $6,500,000 START 06/01/19
Address 2200 The Strand BD/BA 8br/6ba SQFT 4799 sqft LOT 3491 PRICE $10,000,000 $PSF $2,084 DOM 25 DOM START $ $10,000,000 START 05/30/19
Address 405 5th Street BD/BA 6br/6ba SQFT 4250 sqft LOT 2705 PRICE $6,899,000 $PSF $1,623 DOM 27 DOM START $ $6,899,000 START 05/28/19
Address 210 Poinsettia Avenue BD/BA 6br/6ba SQFT 5486 sqft LOT 6250 PRICE $8,500,000 $PSF $1,549 DOM 33 DOM START $ $8,500,000 START 05/14/19
Address 229 8th Street BD/BA 5br/6ba SQFT 4145 sqft LOT 2703 PRICE $8,995,000 $PSF $2,170 DOM 34 DOM START $ $8,995,000 START 05/21/19
Address 861 8th Street BD/BA 5br/7ba SQFT 5656 sqft LOT 5751 PRICE $6,299,000 $PSF $1,114 DOM 38 DOM START $ $6,299,000 START 05/17/19
Address 204 16th Street BD/BA 4br/5ba SQFT 4285 sqft LOT 2694 PRICE $7,850,000 $PSF $1,832 DOM 41 DOM START $ $7,850,000 START 05/15/19
Address 440 6th Street BD/BA 6br/6ba SQFT 4144 sqft LOT 2700 PRICE $6,450,000 $PSF $1,556 DOM 62 DOM START $ $6,850,000 START 04/23/19
Address 676 18th Street BD/BA 6br/8ba SQFT 5843 sqft LOT 6434 PRICE $6,500,000 $PSF $1,112 DOM 74 DOM START $ $6,500,000 START 04/11/19
Address 121 20th Street BD/BA 4br/4ba SQFT 2709 sqft LOT 2694 PRICE $7,985,000 $PSF $2,948 DOM 89 DOM START $ $7,985,000 START 03/27/19
Address 235 4th Street BD/BA 4br/6ba SQFT 4135 sqft LOT 2478 PRICE $8,300,000 $PSF $2,007 DOM 117 DOM START $ $8,300,000 START 02/27/19
Address 232 16th Street BD/BA 5br/5ba SQFT 4978 sqft LOT 2694 PRICE $6,795,014 $PSF $1,365 DOM 118 DOM START $ $6,795,014 START 02/26/19
Address 1000 The Strand BD/BA 9br/8ba SQFT 5967 sqft LOT 4979 PRICE $25,900,000 $PSF $4,341 DOM 118 DOM START $ $25,900,000 START 02/26/19
Address 3305 Pine Avenue BD/BA 5br/7ba SQFT 5715 sqft LOT 9282 PRICE $7,000,000 $PSF $1,225 DOM 137 DOM START $ $7,800,000 START 02/07/19
Address 2304 The Strand BD/BA 3br/3ba SQFT 2360 sqft LOT 3497 PRICE $9,950,000 $PSF $4,216 DOM 157 DOM START $ $9,950,000 START 01/18/19
Address 1026 Pacific Avenue BD/BA 6br/8ba SQFT 7161 sqft LOT 6006 PRICE $7,495,000 $PSF $1,047 DOM 285 DOM START $ $8,800,000 START 09/05/18
Address 3400 The Strand BD/BA 5br/6ba SQFT 5468 sqft LOT 3502 PRICE $16,999,999 $PSF $3,109 DOM 347 DOM START $ $19,300,000 START 07/12/18
Address 224 16th Street BD/BA 5br/5ba SQFT 4224 sqft LOT 2698 PRICE $7,195,000 $PSF $1,703 DOM 382 DOM START $ $7,195,000 START 06/07/18
Address 3416 The Strand BD/BA 5br/5ba SQFT 3934 sqft LOT 3494 PRICE $11,995,000 $PSF $3,049 DOM 407 DOM START $ $12,395,000 START 04/12/18
Address 127 16th Street BD/BA 5br/3ba SQFT 2157 sqft LOT 2700 PRICE $7,200,000 $PSF $3,338 DOM 699 DOM START $ $7,200,000 START 07/25/17

 

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