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.
The growth in inventory in…
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.
The 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."
OK, now, as promised...
As 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
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of June 6th, 2023 at 1:45am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
