Relief.
That can only be the feeling for the seller at 201 Larsson. And for neighbors.
This corner-lot property has been listed for sale on and off in parts of 7 years (2004, '09, '10, '11, '12, '15 and now '16). Only this year did they finally consummate a sale.
List price in November 2015: $3.399M.
…
Relief.
That can only be the feeling for the seller at 201 Larsson. And for neighbors.
This corner-lot property has been listed for sale on and off in parts of 7 years (2004, '09, '10, '11, '12, '15 and now '16). Only this year did they finally consummate a sale.
List price in November 2015: $3.399M.
Sold price in June 2016: $2.400M.
It took a long time to hear what the market was saying, but there it was, finally. (FYI, the sale occurred in June, but only posted to the MLS in late July, which is why we are mentioning it now.)
There is so much going on in the market now worth a comment, it's almost beyond the scope of one market update.
But we have to mention this: That growing-inventory problem? That epic high peak hit less than two weeks ago?
Over.
This is why we write things down, folks. This way, you can follow the story, and remember the details.
On Friday, July 22, MBC posted "Wow, 141," which was a brief note about how inventory had hit 141.
Tuesday morning this week, inventory is at 114, a drop of 27 listings. That's a reduction of 19%. Almost all of that drop is attributable to absorption, i.e., sales/new escrows.
The greater number of these new sales came on listings priced under $2.0M, which make up the lower one-third of the market.
But there are big exceptions to that: Tree Section new construction at 3312 Poinsettia (pictured; last at $3.299M), Martyrs-area new construction at 527 14th (last at $5.499M), a newer Hill Section 'Beach Plantation' on an alley at 931 Boundary Place ($2.999M) and a 2000-built Mediterranean at 1227 6th (list: $2.649M).
So much for the "Dog Days of Summer." Looks more like the dogs are out feasting. Are buyers sensing the opportunity in the market and pouncing? How did they decide to do so all of a sudden?
Here's the rest of our local real estate market update report for the period ending 8/1/16:
- 118 active listings as of 8/1/16 (-15 from 7/15/16)
- 102 SFRs (-14)
- 16 THs (-1)
See the inventory list as of 8/1/16 here, or see the MB Dashboard for up-to-the-minute data.
Active listings by region of Manhattan Beach in this report:
- Tree Section: 28 actives (-6)
- Sand Section: 37 actives (-7)
- Hill Section: 12 actives (-1)
- East MB: 41 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 8/1/16."
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Please see our blog disclaimer.
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 February 8th, 2025 at 11:45pm PST. 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.