New High for an MB Townhome

By Dave Fratello | October 28th, 2014

We imagine that you're with us on this: There's no point in acting surprised anymore about high sale prices in Manhattan Beach.

This aggressive upcycle is what it is. New highs are being carved out all over the place. (We began to document them in "Record Sales of 2014 (So Far)," and took note of "rocketing" Tree Section land values last week.)

This week, a new peak has been set for an ocean-view townhome.

It's 304 27th (4br/4ba, 2700 sq. ft.) leading the charge with an off-market sale that has just posted at $3.540M.

That is the highest price to date for a non-Strand townhome in Manhattan Beach, by about $300K.

It's a big (town)home with world-beating, unobstructed views over Bruce's Beach park. It was sold furnished, adding to the value.

New construction at 611 Bayview (3br/4ba, 2700 sq. ft.) had set the record earlier this year with an off-market, pre-completion transaction at $3.250M. (A smaller companion unit at 612 Manhattan Ave. (3br/4ba, 2240 sq. ft.) sold for $2.900M.)

Only 2 other non-Strand townhomes in Manhattan Beach have ever hit $3M+, one being 205 27th (3br/3ba, 2870 sq. ft.) at $3.125M in Aug. 2011.

Interestingly, like this new record-setter, 205 27th (the grey modern pictured below) benefits greatly from Bruce's Beach park, being right along the edge of it, with nothing but grass and scattered trees in the view across the park to the south.

That 2011 sale was the only $3M+ townhome sale that was not in 2014.

The final one was 2520 Alma (3br/4ba, 2520 sq. ft.), also sold furnished, also sold off-market, at $3.139M in March this year.

It seems like everyone wants to know if we have reached "the top" in this market. There's not much evidence for it. It looks like we're going to have to watch a few more holes get poked in the ceiling like this before we might see any data to say that upward momentum is flagging.

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