New Low for Tree PPSF

By Dave Fratello October 31st, 2011.

That was quick.

Just 10 days ago, we pointed out that the median PPSF for the Tree Section this year is $584/PSF, with the low for Q1-Q3 2011 being $415/PSF at 700 13th (7br/5ba, 3100 sq. ft.).

Now a new low for the Trees for the year has been set, another 9% below the last low.

That came at 1908 Elm (4br/3ba, 3520 sq. ft.), a mid-1980s build that had been somewhat refreshed recently.

The recent sale at $1.330m of this very large home wound up with a PPSF of $378/PSF.


1908 Elm had a somewhat tough time in 2 listings over the past couple of years.

The home made it onto an MBC list in July 2010 as one a few "ugly ducklings." (Face it, it was.) It ran 4 months from $1.590m down to $1.499m, then quit.

Coming back this year, after that refresher, it was up again at $1.590m. It took time – more than 7 months on this listing – to drive it down another 16%. But that made the deal.

Speaking of sub-$400 prices by the foot, we never got around to mentioning the Hill Section's low for who-knows-how-long, 707 Anderson (5br/4ba, 3800 sq. ft.).

When that big early-90s Spanish closed up at $1.500m a month ago, it carved out an amazing $395/PSF.

Turns out, that was just a down payment. The home will be thoroughly gutted and redone. But somewhere down the road, all-inclusive, Anderson will probably still wind up with one of the lowest costs by the foot in recent memory for the subregion of the Hills.

Please see our blog disclaimer.

Latest Listings Among
Manhattan Beach Homes For Sale