MB Market Update for 7/31/17

By Dave Fratello | August 4th, 2017

Looking at data for the end of July, we see that inventory this year was 5 lower than last year (113 this year vs. 118 this time last year).

Where it's larger, though, is more notable. The Sand Section was up by 19, while East Manhattan was down by 17, even with a run of new listings east of the highway in these last few weeks.

401 2nd Street Manhattan Beach CALeading off our look at notable recent sales in this period, take a look at 401 2nd at $5.675M. That's a big number for the South End with limited to no views. 

It's a very formal but huge house for the area: 5br/6ba, ~5400 sqft. A rarity.

Indeed, the only other one we know like it is 100 Morningside, the next block over.

Somehow, after a few brief listings that didn't sell 100 Morningside, that one recently closed for more than they asked on the failed listings: $6.510M.

As to 401 2nd, we'll be curious how much of the current style the buyers keep, or whether they'll go through a big update.

1025 Duncan Place Manhattan Beach CAThis was also a period that saw the absorption (going into escrow) of a Hill Section listing that's lingered: 1025 Duncan Place.

This custom modern is built around a pool area and has some views from the top corners. It racked up 300+ DOM with one agent, then changed horses and sold in about a month.

It had begun in Aug. 2016 at $5.500M, but made various cuts until it sat at $4.500M from March thru mid-June.

Last list price: $4.300M.

By the way, if you have not yet seen our latest sales/pricing update, do review the data in "First Half '17 Bullish Again for Manhattan Beach." More sales and a higher median price... who knew the market still had so much kick left?

Here's the rest of our local real estate market update report for the period ending 7/31/17:

  • 113 active listings as of 7/31/17 (-2)
  • 100 SFRs (+1)
  • 13 THs (-3)

See the inventory list as of 7/31/17  here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section: 24 actives (+2)
  • Sand Section: 56 actives (flat)
  • Hill Section: 9 actives (flat)
  • East MB: 24 actives (-4)

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 7/31/17."

Please see our blog disclaimer.

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