MB Market Update for 9/15/16

By Dave Fratello | September 16th, 2016

Here we are amidst the "late season," our local real estate market's second wind before the holidays come along and everything slows to a near-halt.

It might be easy to look among the 114 active listings and pick out those that are really growing some hair, but for now, let's see who's sold quickly recently. (Everyone loves an upbeat story.)

1128 11th Street Manhattan Beach CA1128 11th (4br/4ba, 2500 sqft.) is a newer townhome quite near both Sepulveda and MB Blvd., but one we found to be a pleasant surprise. Tucked back in the far back, it offers a good amount of living space, sizable bedrooms and a bonus, sunny, grassy yard.

Priced at $1.450M – not so different from 2-on-a-lot townhomes in North Redondo, which obviously do not get MB schools – it went quickly and a bit over asking at $1.465M.

1731 Curtis (4br/2ba, 1600 sqft.) offers a full-sized lot (7500 sqft.) and a cleaned-up, not to say "remodeled," cottage, enabling one to see the whole package as a straightforward rental or (real) remodel, or a land-value sale where one might wish to build new.

Asking $1.300M, it was bid up and sold quickly for quite a bit more: $1.410M.

129 15th Place Manhattan Beach CAWest of the highway, 129 15th Place holds particular interest for your blog author here, as Dave was the agent for the buyers who prevailed in a multiple-offer situation to get the half lot near downtown for $2.050M.

Watch for something great to sprout there over the next couple of years.

We were also fans of 716 Rosecrans (3br/2ba, 1500 sqft. on a super-sized [for Rosecrans] lot of more than 5750 sqft.). The modern-inspired remodel felt more spacious than the basic details might suggest, and the style applied during the remodel was pitch-perfect. It sold pretty fast for $1.475M, almost $50K over asking.

Now, all of those were properties that needed only a few days on market and have now closed.

We wish we could offer a more chipper update in terms of sales activity at the higher end.

Since the date of our late-August post, "(Little) Action at the Higher End," we count 24 properties that have gone into escrow in Manhattan Beach. That's almost 2/day. However, only 2 of those 24 were priced over $3M, and none were over $4M. (The higher-priced new escrows opened on 860 27th, Tree Section new construction last at $3.299M, and 828 1st, a Hill Section lot sale that had fallen out of escrow once before, last at $3.449M.)

As of Friday, Sept. 16, there are 55 active listings priced at $3.000M and above, quite nearly half the active inventory.


Here's the rest of our local real estate market update report for the period ending 9/15/16:

  • 114 active listings as of 9/15/16 (+6 from 9/1/16)
  • 95 SFRs (+4)
  • 19 THs (+2)

See the inventory list as of 9/15/16 here, or see the MB Dashboard for up-to-the-minute data.

Active listings by region of Manhattan Beach in this report:

  • Tree Section27 actives (-2)
  • Sand Section39 actives (+5)
  • Hill Section14 actives (+1)
  • East MB34 actives (same)

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 9/15/16."


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