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."

Get-Ticker-300

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

Charming Beach Cottage In Premier 100 Block Loc...

OPEN HOUSE

124 2nd Street

Manhattan Beach, CA

  • 3 BR
  • 2 BA
  • 1,750 SqFt.
  • 2,707 Lot

$6,395,000

Active

DOM: 92

Price:
$6,395,000
BR/BA:
3br / 2ba
Sq. ft.:
1,750
Area:
142 - Manhattan Bch Sand
City:
Manhattan Beach
DOM:
92
ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 3608 The Strand 1 BD/BA 2br/3ba SQFT 1777 sqft LOT 9334 PRICE $7,300,000 $PSF $4,108 DOM 6 DOM START $ $7,300,000 START 11/25/22
Address 417 5th Street BD/BA 4br/5ba SQFT 3624 sqft LOT 2695 PRICE $6,695,000 $PSF $1,847 DOM 28 DOM START $ $6,695,000 START 11/03/22
Address 616 12th Street BD/BA 5br/5ba SQFT 4300 sqft LOT 3008 PRICE $7,349,000 $PSF $1,709 DOM 36 DOM START $ $7,349,000 START 10/26/22
Address 124 4th Street BD/BA 5br/3ba SQFT 2363 sqft LOT 2697 PRICE $6,000,000 $PSF $2,539 DOM 42 DOM START $ $6,000,000 START 10/20/22
Address 413 9th Street BD/BA 6br/5ba SQFT 3800 sqft LOT 2695 PRICE $7,000,000 $PSF $1,842 DOM 42 DOM START $ $7,000,000 START 10/20/22
Address 1408 The Strand BD/BA 4br/5ba SQFT 4517 sqft LOT 2983 PRICE $18,250,000 $PSF $4,040 DOM 56 DOM START $ $18,250,000 START 10/06/22
Address 340 6th Street BD/BA 5br/5ba SQFT 3842 sqft LOT 2694 PRICE $7,950,000 $PSF $2,069 DOM 62 DOM START $ $8,500,000 START 09/30/22
Address 2522 The Strand BD/BA 3br/3ba SQFT 2660 sqft LOT 3498 PRICE $8,500,000 $PSF $3,195 DOM 64 DOM START $ $8,900,000 START 09/28/22
Address 4016 The Strand BD/BA 4br/5ba SQFT 3578 sqft LOT 1746 PRICE $8,895,000 $PSF $2,486 DOM 80 DOM START $ $8,895,000 START 09/12/22
Address 124 2nd Street BD/BA 3br/2ba SQFT 1750 sqft LOT 2707 PRICE $6,395,000 $PSF $3,654 DOM 92 DOM START $ $6,875,000 START 08/31/22
Address 500 N Poinsettia Avenue BD/BA 5br/8ba SQFT 8389 sqft LOT 10128 PRICE $22,000,000 $PSF $2,622 DOM 111 DOM START $ $22,000,000 START 08/12/22
Address 319 S Dianthus Street BD/BA 5br/7ba SQFT 5685 sqft LOT 5953 PRICE $10,995,000 $PSF $1,934 DOM 112 DOM START $ $12,999,000 START 08/11/22
Address 1908 The Strand BD/BA 3br/3ba SQFT 1733 sqft LOT 3314 PRICE $14,395,000 $PSF $8,306 DOM 128 DOM START $ $14,395,000 START 07/26/22
Address 931 1st Street BD/BA 2br/1ba SQFT 948 sqft LOT 9595 PRICE $6,500,000 $PSF $6,857 DOM 140 DOM START $ $7,300,000 START 07/14/22
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $10,500,000 $PSF $2,456 DOM 182 DOM START $ $10,995,000 START 06/02/22
Address 3000 The Strand BD/BA 3br/4ba SQFT 3949 sqft LOT 3514 PRICE $15,500,000 $PSF $3,925 DOM 197 DOM START $ $17,000,000 START 05/18/22
Address 200 S Poinsettia Avenue BD/BA 6br/6ba SQFT 5061 sqft LOT 6256 PRICE $7,500,000 $PSF $1,482 DOM 212 DOM START $ $7,999,999 START 04/27/22

 

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