recent sales

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The second half of April saw a drop in inventory below 100 for a short time, though the month ended at 103 listings.

At the same time last year, there were 56 active listings. (See our 5/1/15 update here.)

3009 North Poinsettia Avenue Manhattan Beach CAThere was a lot to say about the Tree Section during this period. For instance, note the big sale of a custom Cape Cod at 3009 N. Poinsettia (4br/4ba, 3600 sqft.) at $3.700M – well over $1,000/PSF.

That number bested the $3.500M secured by the smaller new construction just a couple of blocks away at 3101 Maple (5br/5ba, 3200 sqft.) early this year.

3521 Walnut Avenue Manhattan Beach CADuring this same period, two more large and new/newer Tree Section homes east of Pacific and north of Valley also closed, but for much less: 3113 Walnut (5br/5ba, 3320 sqft.) at $3.180M and 3521 Walnut

In less than 2 weeks, inventory in the Tree Section has dropped quickly – mostly due to new sales.

As of April 15 this year, there were 32 listings in the almost-glutted Tree Section. There had been 14 active listings in the Tree Section exactly one year prior, so this was a huge difference... much more choice for buyers.

As of Thursday morning, inventory was back down to 22 active listings. Where did those other listings go? Here's our rundown (you can click any address to see more photos & details on any listing).

1313 Pine Avenue Manhattan Beach CA1313 Pine (5br/4ba, 3250 sqft.) is essentially new construction, purchased one year ago pre-completion and before it came to market for $3.290M.

It's an artistically done Cape Cod on a corner lot, which allows entry from the side. The…

We reported last weekend that the number of open houses was quite nearly the same as the total number of listings in Manhattan Beach just a year previous (53 opens, 57 listings the prior year).

We reported this week that inventory had nearly doubled year-over-year: A good story for buyers, it would seem.

This past 7-day period, though, has been one of nearly equal balance.

From Friday morning to Friday morning, we saw:

  • 10 new listings coming to market
  • 10 new escrows beginning
  • 9 price cuts on existing listings

Inventory of Manhattan Beach homes for sale is steady at 105 as of Friday morning.

You know that you can always get an instant update on the state of the market on the MB Dashboard.

If you're the Twittering type, you ought to add the MB

Let's be clear right away: Building 3305 Pine was a crazy idea.

3305 Pine Avenue Manhattan Beach CAWell, back that up. 3305 Pine used to be just one house, and building that one wasn't crazy. Acquiring the home next door and making the two homes together into a compound – that was a little crazy.

Oh, but it's the kind of crazy that people can really, really like.

And now, twice, 3305 Pine has become the tippity-top sale in the Manhattan Beach Tree Section outside the Martyrs area. It has just closed this week for $6.750M.

Look closely: That's $3.375M per house for two homes that are awfully far north and east within the Trees to command those kinds of prime prices.

That's because the compound had become more than the sum of its parts. More on the home in a moment.

The last time this…