One More East MB Resale Over $3M

By Dave Fratello | September 4th, 2018

Since late June, once the kids were out of school and Manhattan Beach residents were off the the corners of the Earth for vacations, there has been just one $3M+ sale in East Manhattan Beach.

But what a sale it was.

1544 Voorhees Avenue Manhattan Beach CA1544 Voorhees (6br/6ba, 5200 sqft.) is a slick 2009 Mediterranean, a custom luxury home that had made news previously in recent years. (More on that later.)

The resale of the home has just posted at $3.175M, putting it in the record books for this type of home.

Specifically, it's the second-highest price ever for a resale east of PCH Sepulveda, among homes on standard-sized lots (about 6500-8500 sqft.).

It's the priciest resale in about 2 years, besting similarly large 1616 Gates (5br/6ba, 5070 sqft.), which closed in late June for $3.050M.

Both Voorhees and Gates are in the East MB area now delineated as the Mira Costa neighborhood, and proposed recently to be renamed as "Manhattan Knolls" for real estate purposes.

The high sale remains 1200 10th 1200 10th Street Manhattan Beach CA (5br/6ba, 4750 sqft.), a corner-lot, elegant Cape Cod built in 2012 and improved with a pool and serious designer upgrades. (Pictured.)

It sold new in 2013 for $2.799M, but with all the extras, it resold in Nov. 2016 for $3.600M.

No resale has ever come close, though new construction has, and has gone higher 3 times, once hitting $3.700M (1350 23rd).

1544 Voorhees Avenue Manhattan Beach CASo let's go back to 1544 Voorhees for a moment.

Is it significant that it's raising the bar as to what's possible with East Manhattan Beach resales?

Sure.

Is it the first time for this house?

No.

Back in mid-2012, 1544 Voorhees sold for $2.600M. We wrote up the sale, with lots of data and references, in "East MB Sale Crosses $2.5M" (June 2012).

1544 Voorhees Avenue Manhattan Beach CAAt the time, by midyear, 1544 Voorhees was only the second comparable sale over $2M in all of East Manhattan. And its $2.600M sale price wiped away the other sale by $530K.

Back then, maybe you could have said it was at the leading edge of a trend, but that wasn't obvious at the time.

This year, 1544 Voorhees may not be such an outlier. It's just adding to the mix of higher sales. (See our related post, "More $3M+ Sales, and Asks, in East MB.")

However, one might also ask if East MB is now falling off pace.

Last year, 15 sales over $3M made a splash for East MB, and helped raise the citywide median price. Almost all were new construction.

That was then. This year, we're seeing just 6 sales over $3M so far east of the highway.

There could be a bounce back for 2018 if some of the new homes in the area getting ready for market come out soon, and sell quickly.

Right now there are only 2 East Manhattan home listed over $3M, and there are none in escrow. So there will need to be more inventory to get more sales and bring the pace back near to last year's. That doesn't look likely.

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