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 2508 The Strand BD/BA 4br/6ba SQFT 4554 sqft LOT 3504 PRICE $12,950,000 $PSF $2,844 DOM 3 DOM START $ $12,950,000 START 10/21/20
Address 4216 The Strand BD/BA 5br/6ba SQFT 3825 sqft LOT 3510 PRICE $7,249,000 $PSF $1,895 DOM 9 DOM START $ $7,249,000 START 10/15/20
Address 337 7th Street BD/BA 5br/5ba SQFT 4500 sqft LOT 2703 PRICE $7,500,000 $PSF $1,667 DOM 10 DOM START $ $7,500,000 START 10/14/20
Address 212 16th Street BD/BA 4br/5ba SQFT 4181 sqft LOT 2708 PRICE $8,795,000 $PSF $2,104 DOM 11 DOM START $ $8,795,000 START 10/13/20
Address 633 11th Street BD/BA 5br/6ba SQFT 5200 sqft LOT 5664 PRICE $6,950,000 $PSF $1,337 DOM 15 DOM START $ $6,950,000 START 10/09/20
Address 3808 The Strand BD/BA 4br/7ba SQFT 4772 sqft LOT 3501 PRICE $13,500,000 $PSF $2,829 DOM 31 DOM START $ $13,500,000 START 09/23/20
Address 208 20th Street BD/BA 5br/6ba SQFT 5673 sqft LOT 2704 PRICE $9,590,000 $PSF $1,690 DOM 32 DOM START $ $9,590,000 START 09/22/20
Address 936 8th Street BD/BA 7br/8ba SQFT 6692 sqft LOT 6502 PRICE $8,000,000 $PSF $1,195 DOM 37 DOM START $ $8,000,000 START 09/17/20
Address 235 4th Street BD/BA 4br/6ba SQFT 4135 sqft LOT 2478 PRICE $7,250,000 $PSF $1,753 DOM 44 DOM START $ $7,250,000 START 09/10/20
Address 205 20th Street BD/BA 4br/6ba SQFT 4747 sqft LOT 2697 PRICE $10,500,000 $PSF $2,212 DOM 45 DOM START $ $10,500,000 START 09/09/20
Address 1516 The Strand BD/BA 4br/4ba SQFT 4953 sqft LOT 3330 PRICE $18,900,000 $PSF $3,816 DOM 96 DOM START $ $18,900,000 START 07/20/20
Address 224 32nd Street BD/BA 4br/5ba SQFT 4367 sqft LOT 2698 PRICE $6,999,997 $PSF $1,603 DOM 99 DOM START $ $7,499,000 START 07/17/20
Address 1920 The Strand BD/BA 5br/7ba SQFT 5574 sqft LOT 3340 PRICE $16,900,000 $PSF $3,032 DOM 155 DOM START $ $16,900,000 START 05/22/20
Address 125 8th Street BD/BA 5br/6ba SQFT 4083 sqft LOT 2681 PRICE $7,995,000 $PSF $1,958 DOM 158 DOM START $ $8,495,000 START 05/19/20
Address 3400 The Strand BD/BA 5br/6ba SQFT 5478 sqft LOT 3502 PRICE $14,900,000 $PSF $2,720 DOM 228 DOM START $ $15,900,000 START 03/10/20
Address 2016 Ocean Drive BD/BA 5br/6ba SQFT 5739 sqft LOT 2698 PRICE $14,000,000 $PSF $2,439 DOM 411 DOM START $ $14,000,000 START 09/09/19
Address 116 4th Street BD/BA 4br/5ba SQFT 4226 sqft LOT 2692 PRICE $10,900,000 $PSF $2,579 DOM 416 DOM START $ $15,900,000 START 08/06/19
Address 224 16th Street BD/BA 5br/5ba SQFT 4224 sqft LOT 2698 PRICE $6,875,000 $PSF $1,628 DOM 434 DOM START $ $7,295,000 START 08/17/19

 

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