The trend toward $3-million-dollar-plus asking prices and sales over $3M continues East of Sepulveda.
There are 5 such sales over $3M this year already. Of those, 4 were new construction, and 1 was a resale.*
That resale was huge 1616 Gates (5br/6ba, 5070 sqft.), a 2008 build that just closed for $3.050M.…
The trend toward $3-million-dollar-plus asking prices and sales over $3M continues East of Sepulveda.
There are 5 such sales over $3M this year already. Of those, 4 were new construction, and 1 was a resale.*
That resale was huge 1616 Gates (5br/6ba, 5070 sqft.), a 2008 build that just closed for $3.050M. (It's pictured here.)
This year's sales bring to 34 the total number of sales in East Manhattan Beach over $3M for homes on standard-sized lots (they span 6600 sqft.-8500 sqft.). A 35th such 3+ sale is on a 9500+ sqft. lot, while other, higher sales featured much larger lots.
Look at all the data on those 34-35 sales, and one conclusion is pretty obvious: Most $3M+ sales are new homes that have never been lived in, just like with most $3M+ sales this year.
(Our asterisk* above is a reference to how we counted 1561 Mathews [$3.100M] as new construction, though it sold in Feb. 2018 with a 2014 build date. It had a long history of not selling before that, then sold in late 2016 but no one moved in before this year's resale. Part of the appeal was that it was untouched.)
We looked at data on $3M+ sales on the east side some months ago, in late 2017. Our post had a good, descriptive title: "Many More $3M+ Sales in East MB in 2017." (There's a lot of data in that post, too.)
We made something of an amazing finding: Before 2017, there were 14 sales of $3M or more. In calendar year 2017, there were 15.
So the total more than doubled just last year. (Again, we're focused on $3M+ sales in East Manhattan Beach on typical-size lots.)
With that kind of momentum, of course people are going to try for $3M or so this year.
Two active listings are asking $3M or more, and they're both resales:
1210 10th (4br/5ba, 4480) is a 1994 build that's clean but could use some updates.
There's a lot of space, though its split-level living spaces have fallen out of favor.
It's got a pool and a position up on the 10th St. hill that's very favorable, with some nice neighborhood views from the back of the home.
1210 10th began at $3.295M in May.
It has cut $150K to $3.145M as it concludes its second month on market.
Last week, 1450 5th (6br/5ba, 4300 sqft.) debuted at $3.695M.
It's a 2001 build in a good location with some polish to it, although it appears most of the stylistic updating was done before a 2012 sale, not too much more recently.
Sales, this one's had a few:
2004: $2.160M
2011: $2.070M
2012: $2.490M (after remodel)
2015: $2.960M
Time for another?
So, maybe we've got you wondering about what all those $3M+ East Manhattan sales have looked like.
Below is the complete list, with the newest sales shown first. One 2007 sale doesn't show and for some reason, 1161 9th (2017) doesn't right now, so use the link here from the address to see it.
(Email subscribers will need to view this post online in a browser.)
All East Manhattan Beach Sales Over $3M (Standard-Sized Lots)
No matching listings right now.
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.
