New Construx Sales Dipped Slightly in '18

By Dave Fratello | January 30th, 2019

An 8-year new construction boom in Manhattan Beach continued strongly last year.

With 54 sales of newly built homes, the city hit its second-highest total since 2011.

manhattan-beach-new-construction-home-salesBut, as was so often the case with 2018 real estate data, last year didn't quite hit the peaks that 2017 had hit.

The #1 year for new construction sales was 2017, with 61 sales.

(As is typical, we rely on MLS-reported data here. Many new construction homes sell pre-market, during construction, although most are also reported on the MLS after closing. But some transactions do stay private.)

This makes for 258 new construction sales in the 8-year span we're studying.

There wasn't much new building in 2009-2010, so we didn't record data from then.

We did scrutinize the MLS data closely to eliminate duplicates and major remodels sold as "new" when the homes weren't truly new. So that 258 figure is reliable.

We can actually observe that 60% of all new homes sold in the last 8 years were sold in just the past 3 years: 2016-18.

That's kinda neeto, but also significant: It took a while for the market to stabilize, for builders to start buying lots and building and for homes to come to market. It's an 18-month to 24-month lag from lot to new house.

1721 8th Manhattan Beach CASo, you can say market supply spooled up gradually and still found plenty of demand. (Pictured here is 1721 8th, which set a record for East MB new construx at $3.950M.)

Buyers want new construction, but with that lead time built into the process, one question is how much longer builders and investors will keep starting new projects.

Lots are pricey now, but builders are still getting land when they can. And there are several new homes lined up to come out early this year.

Will we hit 50 sales again this year, though? Not sure there's that much supply coming.

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New Construction Homes Sold in Manhattan Beach in 2018

Below are most of the new homes sold in 2018; our system stops the display at 48 solds. (Sorry!)

(email subscribers will need to view this post online to see the listings)

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 714 N Dianthus Street BD/BA 5br/5ba SQFT 3573 sqft LOT 5161 PRICE $3,750,000 $PSF $1,050 DOM 43 DOM SOLD SOLD 12/14/18 START $ $4,195,000 START 12/14/18
Address 513 Longfellow Avenue BD/BA 5br/6ba SQFT 5128 sqft LOT 4014 PRICE $4,275,000 $PSF $834 DOM 270 DOM SOLD SOLD 12/10/18 START $ $5,349,000 START 12/10/18
Address 2412 Manhattan Avenue BD/BA 4br/4ba SQFT 2480 sqft LOT 3495 PRICE $4,250,000 $PSF $1,714 DOM 94 DOM SOLD SOLD 11/30/18 START $ $4,799,000 START 11/30/18
Address 444 28th Street BD/BA 3br/4ba SQFT 2440 sqft LOT 1549 PRICE $3,050,000 $PSF $1,250 DOM 97 DOM SOLD SOLD 11/28/18 START $ $3,399,000 START 11/28/18
Address 665 19th Street BD/BA 5br/7ba SQFT 3598 sqft LOT 4398 PRICE $4,125,000 $PSF $1,146 DOM 17 DOM SOLD SOLD 11/15/18 START $ $4,250,000 START 11/15/18
Address 856 14th Street BD/BA 5br/6ba SQFT 3500 sqft LOT 5014 PRICE $3,707,000 $PSF $1,059 DOM 6 DOM SOLD SOLD 11/06/18 START $ $3,695,000 START 11/06/18
Address 1653 3rd Street BD/BA 4br/4ba SQFT 2328 sqft LOT 7504 PRICE $2,035,000 $PSF $874 DOM 85 DOM SOLD SOLD 11/02/18 START $ $2,275,000 START 11/02/18
Address 440 24th Street BD/BA 4br/4ba SQFT 2755 sqft LOT 3382 PRICE $3,175,000 $PSF $1,152 DOM 76 DOM SOLD SOLD 10/29/18 START $ $3,375,000 START 10/29/18
Address 1446 18th Street BD/BA 5br/6ba SQFT 4712 sqft LOT 7022 PRICE $3,850,000 $PSF $817 DOM 79 DOM SOLD SOLD 10/24/18 START $ $4,075,000 START 10/24/18
Address 876 11th Street BD/BA 5br/6ba SQFT 4143 sqft LOT 6005 PRICE $3,925,000 $PSF $947 DOM 53 DOM SOLD SOLD 10/24/18 START $ $4,295,000 START 10/24/18
Address 124 38th Place BD/BA 3br/4ba SQFT 1920 sqft LOT 1353 PRICE $2,760,000 $PSF $1,438 DOM 92 DOM SOLD SOLD 10/19/18 START $ $3,099,000 START 10/19/18
Address 532 21st Street BD/BA 5br/5ba SQFT 4336 sqft LOT 3512 PRICE $4,900,000 $PSF $1,130 DOM 193 DOM SOLD SOLD 10/15/18 START $ $5,499,000 START 10/15/18
Address 1721 8th BD/BA 6br/6ba SQFT 4480 sqft LOT 8750 PRICE $3,950,000 $PSF $882 DOM 0 DOM SOLD SOLD 10/10/18 START $ $3,999,000 START 10/10/18
Address 130 19th Street BD/BA 4br/5ba SQFT 4200 sqft LOT 2698 PRICE $8,085,000 $PSF $1,925 DOM 22 DOM SOLD SOLD 10/09/18 START $ $8,599,000 START 10/09/18
Address 443 23rd Place BD/BA 3br/4ba SQFT 2460 sqft LOT 3382 PRICE $2,800,000 $PSF $1,138 DOM 44 DOM SOLD SOLD 09/26/18 START $ $2,975,000 START 09/26/18
Address 425 2nd Street BD/BA 5br/6ba SQFT 4130 sqft LOT 2704 PRICE $5,575,000 $PSF $1,350 DOM 1 DOM SOLD SOLD 09/06/18 START $ $5,650,000 START 09/06/18
Address 1904 Palm Avenue BD/BA 5br/5ba SQFT 3600 sqft LOT 4482 PRICE $4,100,000 $PSF $1,139 DOM 76 DOM SOLD SOLD 08/24/18 START $ $4,350,000 START 08/24/18
Address 2200 Harkness Street BD/BA 5br/5ba SQFT 3578 sqft LOT 5398 PRICE $2,780,000 $PSF $777 DOM 26 DOM SOLD SOLD 08/15/18 START $ $2,850,000 START 08/15/18
Address 756 Center Place BD/BA 3br/3ba SQFT 2182 sqft LOT 77711 PRICE $2,025,000 $PSF $928 DOM 193 DOM SOLD SOLD 08/13/18 START $ $2,275,000 START 08/13/18
Address 719 19th Street BD/BA 6br/8ba SQFT 5870 sqft LOT 6425 PRICE $6,625,000 $PSF $1,129 DOM 73 DOM SOLD SOLD 08/07/18 START $ $6,995,000 START 08/07/18
Address 2101 Elm Avenue BD/BA 5br/5ba SQFT 3116 sqft LOT 4482 PRICE $3,375,000 $PSF $1,083 DOM 1 DOM SOLD SOLD 08/04/18 START $ $3,299,000 START 08/04/18
Address 713 35th Street BD/BA 5br/7ba SQFT 3880 sqft LOT 5403 PRICE $3,900,000 $PSF $1,005 DOM 5 DOM SOLD SOLD 07/30/18 START $ $3,795,000 START 07/30/18
Address 660 19th Street BD/BA 5br/7ba SQFT 5002 sqft LOT 5218 PRICE $4,974,000 $PSF $994 DOM 81 DOM SOLD SOLD 07/27/18 START $ $5,349,000 START 07/27/18
Address 2413 Bayview Dr. BD/BA 3br/4ba SQFT 2780 sqft LOT 3495 PRICE $5,500,000 $PSF $1,978 DOM 1 DOM SOLD SOLD 07/20/18 START $ $5,500,000 START 07/20/18
Address 1806 Marine Avenue BD/BA 3br/3ba SQFT 1602 sqft LOT 5076 PRICE $1,700,000 $PSF $1,061 DOM 8 DOM SOLD SOLD 07/17/18 START $ $1,699,000 START 07/17/18
Address 575 31st Street BD/BA 5br/7ba SQFT 4840 sqft LOT 5026 PRICE $4,775,000 $PSF $987 DOM 16 DOM SOLD SOLD 06/26/18 START $ $4,795,000 START 06/26/18
Address 1820 Pine Avenue BD/BA 5br/6ba SQFT 3134 sqft LOT 4480 PRICE $3,375,000 $PSF $1,077 DOM 1 DOM SOLD SOLD 06/26/18 START $ $3,399,000 START 06/26/18
Address 760 Center Place BD/BA 3br/3ba SQFT 2267 sqft LOT 7711 PRICE $2,395,000 $PSF $1,056 DOM 34 DOM SOLD SOLD 06/22/18 START $ $2,395,000 START 06/22/18
Address 3309 Pine Avenue BD/BA 5br/6ba SQFT 3247 sqft LOT 4641 PRICE $3,350,000 $PSF $1,032 DOM 0 DOM SOLD SOLD 06/22/18 START $ $3,399,999 START 06/22/18
Address 761 Manhattan Beach Boulevard BD/BA 2br/3ba SQFT 1814 sqft LOT 7711 PRICE $1,915,000 $PSF $1,056 DOM 8 DOM SOLD SOLD 06/20/18 START $ $1,925,000 START 06/20/18
Address 757 Manhattan Beach Boulevard BD/BA 2br/3ba SQFT 1986 sqft LOT 7711 PRICE $2,000,000 $PSF $1,007 DOM 12 DOM SOLD SOLD 06/15/18 START $ $2,025,000 START 06/15/18
Address 765 Manhattan Beach Boulevard BD/BA 2br/3ba SQFT 1853 sqft LOT 7711 PRICE $1,940,000 $PSF $1,047 DOM 37 DOM SOLD SOLD 06/12/18 START $ $2,145,000 START 06/12/18
Address 128 21st Street BD/BA 5br/8ba SQFT 5200 sqft LOT 2694 PRICE $7,736,000 $PSF $1,488 DOM 0 DOM SOLD SOLD 06/06/18 START $ $7,786,000 START 06/06/18
Address 3605 Oak Avenue BD/BA 5br/4ba SQFT 3250 sqft LOT 4647 PRICE $2,575,000 $PSF $792 DOM 28 DOM SOLD SOLD 06/04/18 START $ $2,599,000 START 06/04/18
Address 1350 23rd Street BD/BA 5br/5ba SQFT 4799 sqft LOT 7449 PRICE $3,700,000 $PSF $771 DOM 2 DOM SOLD SOLD 06/04/18 START $ $3,649,000 START 06/04/18
Address 705 27th Street BD/BA 5br/5ba SQFT 3360 sqft LOT 4801 PRICE $3,825,000 $PSF $1,138 DOM 39 DOM SOLD SOLD 05/25/18 START $ $3,999,999 START 05/25/18
Address 1706 Nelson Avenue BD/BA 5br/6ba SQFT 4298 sqft LOT 7500 PRICE $3,450,000 $PSF $803 DOM 8 DOM SOLD SOLD 05/24/18 START $ $3,500,000 START 05/24/18
Address 524 11th Street BD/BA 6br/7ba SQFT 6233 sqft LOT 8754 PRICE $7,307,625 $PSF $1,172 DOM 41 DOM SOLD SOLD 05/22/18 START $ $7,450,000 START 05/22/18
Address 1501 Elm Avenue BD/BA 4br/5ba SQFT 3160 sqft LOT 4201 PRICE $3,125,000 $PSF $989 DOM 42 DOM SOLD SOLD 05/21/18 START $ $3,175,000 START 05/21/18
Address 1901 Palm Avenue BD/BA 5br/7ba SQFT 4762 sqft LOT 5061 PRICE $4,875,000 $PSF $1,024 DOM 85 DOM SOLD SOLD 05/09/18 START $ $5,500,000 START 05/09/18
Address 404 27th BD/BA 4br/4ba SQFT 2820 sqft LOT 0 PRICE $4,350,000 $PSF $1,543 DOM 41 DOM SOLD SOLD 05/07/18 START $ $4,299,000 START 05/07/18
Address 461 27th Street BD/BA 3br/4ba SQFT 2300 sqft LOT 1549 PRICE $3,295,000 $PSF $1,433 DOM 28 DOM SOLD SOLD 04/25/18 START $ $3,349,000 START 04/25/18
Address 319 34th Place BD/BA 3br/4ba SQFT 2001 sqft LOT 2697 PRICE $2,500,000 $PSF $1,249 DOM 47 DOM SOLD SOLD 04/24/18 START $ $2,599,000 START 04/24/18
Address 3300 Palm Avenue BD/BA 5br/5ba SQFT 3947 sqft LOT 4636 PRICE $3,850,000 $PSF $975 DOM 26 DOM SOLD SOLD 04/18/18 START $ $3,995,000 START 04/18/18
Address 1401 Lynngrove Drive BD/BA 5br/5ba SQFT 3588 sqft LOT 5420 PRICE $2,680,000 $PSF $747 DOM 19 DOM SOLD SOLD 04/03/18 START $ $2,680,000 START 04/03/18
Address 308 3rd Street BD/BA 4br/4ba SQFT 2675 sqft LOT 3328 PRICE $3,700,000 $PSF $1,383 DOM 53 DOM SOLD SOLD 03/28/18 START $ $3,899,000 START 03/28/18
Address 400 27th BD/BA 4br/4ba SQFT 2750 sqft LOT 0 PRICE $5,100,000 $PSF $1,855 DOM 0 DOM SOLD SOLD 03/23/18 START $ $5,100,000 START 03/23/18
Address 320 35th Street BD/BA 4br/5ba SQFT 2450 sqft LOT 2697 PRICE $2,960,000 $PSF $1,208 DOM 29 DOM SOLD SOLD 03/22/18 START $ $2,999,000 START 03/22/18

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