New High for MB Village?

By Dave Fratello | April 16th, 2014

We're in an upcycle in Manhattan Beach real estate that is seeing all kinds of new highs carved out.

Pick your category. New construction on a single lot in the Tree Section? How about $3.6M and $3.7M, hit last August at 705 26th and 709 26th.

Strand dirt? How about 104 The Strand at $9.500M in February this year?

East MB new construction? 1626 1st (5br/5ba, 4950 sq. ft.) hit $3.200M (see "3.2 Is the New Crest for East MB").

Townhomes east of Highland? All of a sudden $2.8M is the new normal after it had never been hit: First, 2520 Alma, then 2300 Alma, and, now in escrow, new 408 32nd (pending). (Plus, we hear 2520 Alma is set to resell for more.)

Joining the fray now is a new listing behind the gates of the MB Village: 22 Chatham (4br/3ba, 2950 sq. ft.).

This is an updated SFR with a private backyard. It starts at $2.365M

We can find just 2 sales ever in the MB Village over $2M. Both were in 2007, and one was a neighbor, at 26 Chatham, which sold for $2.095M exactly 7 years ago.

The Village SFR record high we see was at 60 Village Circle (4br/3ba, 2975 sq. ft.) at $2.200M later in 2007 (October).

If there's going to be a year when you might see a 7-year-old record eclipsed, this could be that year.

This listing for 22 Chatham does not set the record for highest asking price in the Village, however.

No, a prior listing on 22 Chatham does. In 2010, they asked for $30K more, $2.395M – to no avail.

Both 9 Cambridge and 13 Bridgeport asked $2.299M in past listings, but never sold.

11 Chatham (4br/4ba, 3250 sq. ft.) had the next-highest asking price, $2.249M in 2009, but instead sold – privately – for much less, $1.830M in 2010.

Behind the gates, now, it's off to the races.

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