recent sales

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If you're going to try to sell during the quieter Summer months, you had better be ready to sell.

Show that you mean it.

1825 Walnut Avenue Manhattan Beach CAOf course, we mean show it with price.

Almost half of the most recent sales (new escrows) in town came within a week of their actual marketing dates. (That includes this Tree Section listing at 1825 Walnut, asking $1.379M.) 

At a time of burgeoning inventory and a modest sales pace, that's remarkable. Feels like the old days... for those sellers.

Not at all incidentally, 4 of the 5 sales we will point to below were priced under $1.600M. That's considered to be the more "affordable," lower tier of the Manhattan Beach real estate market. For all of 2016, out of 214 closed sales to date in MB, just 62 (29%) sold at $1.6M or below.

One of the prime micro-neighborhoods of the Tree Section is the 2-block stretch of Palm Ave. and John St., just east of Pacific and south of Marine.

What makes it nice is the wide, flat streets and low traffic. (The streets T-off at 18th, so there's little purpose for non-neighbors to drive in the area.) Some portions show no power poles, a further plus.

2001 John Street Manhattan Beach CAThis week's new construction listing at 2001 John (5br/7ba, 4865 sqft.) would appear to be aiming for the record price for the area, launching at $5.475M.

(Its $1,125/PSF asking would be in the top tier for livable/newer houses in the Tree Section also.)

As a builder, you can aspire to such heights with an oversized new house on a great block. Although in this case, there is a new-construction neighbor…

You probably know that short-term rentals have been effectively banned in Manhattan Beach.

But what about short-term ownership? Not regulated yet.

1313 Pine Avenue Manhattan Beach CASome recent listings have come to market after being acquired not-so-very-long-ago. You have to wonder: What changed? (We don't make it this blog's business to dive into the personal stories, even when we do hear.)

A recent closed sale at 1313 Pine (pictured) was a moderate success story. The 5br/4ba, 3260 sqft. home was purchased early last year while it was being framed out as a spec home. The buyer just couldn't let it go to someone else, so they paid $3.290M in Jan. 2015. 

This year, they offered it back on the public market for $3.499M, but found that the market wasn't quite there.

The sale at $3.345M

As we look at recent sales activity for our market update, we reflect...

Oh, to have a good, old-fashioned bidding war.

1809 Magnolia Avenue Manhattan Beach CAThey did recently at 1809 Magnolia.

This reasonably sized, custom-built home (4br/4ba, 3200 sqft.) in East Manhattan is on a sleepy street and sports a very wide lot (60' by 100' deep). That makes for an unusually wide, open-feeling home, and allows for a floorplan with some nice changes from the usual from MB. (For instance, a full-sized guest suite on the first floor opening to the backyard, which took nothing away from the kitchen/great room also in back.)

The design and execution of this 2009 build were marvelous. Everyone saw that. When they posted it for sale in April, the frenzy began.

You can get all of this for $2.300M? Wow!