recent sales

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If you know MB Confidential, you know we love a deep dive into data.

And there's a time and a place for that, but today, we'll try to illustrate a trend with just one sale.

Newly pending/in escrow is 2301 Vista, a modern-style 3br TH with 2400+ interior square feet.

This modern townhome was built a ways back, in 2002, but has a very compelling, slick "now" look to it. (The decor, gadgets and super-plus-sized TV's also give it a "guy's paradise" feel.)

The most recent sale here wasn't all that long ago, even if it seems like forever to look back to 2011.

Here, actually, are all 3 of the most recent sales of 2301 Vista:

  • $1.910M in Dec. 2011
  • $1.900M in Nov. 2009
  • $2.099M in Jan. 2007

List price this month was $3.399M, or 78% over the 2011

It's time for one of our twice-monthly updates on the Manhattan Beach real estate market.

We've got our eyes on the Hill Section this time, where it turns out the rumors were true: The new-construction home at 927 10th really did sell for the asking price of $5.800M.

A Hill Section home near $6M – not so unusual, you may say. But this one is pretty far east (for the area) and does not have views.

Consider, for a moment, the recent, nearby sale at 906 9th (6br/7ba, 5425 sqft.), boasting more space on a similarly sized lot (7250 vs. 7500 sqft. at 10th). It's a 2009 build in a Mediterranean style with rooms on 3 levels. That one came in at $4.300M in March, a PPSF of $793/PSF.

Meantime, 927 10th is brand-new and in a modern "Plantation Contemporary" style…

The old fable about the tortoise and the hare conveys one lesson, among others: Sure and steady wins the day.

We had that in mind watching a Village townhome sale close this week.

At 5 Malaga Place (3br/3ba, 2065 sqft.), the first attempt to sell came 51 weeks ago, in a listing launched June 20, 2014. 

The start price: $1.450M.

At the time, there were precious few recent sales of 3br townhomes in the Village near or over $1.4M. Maybe they were pushing it a bit?

There were 2 higher sales that were very recent just before the listing launched: A super-darling remodel at 16 Dover Pl. (3br/3ba, 2050 sqft.) at $1.555M in April 2014, and the golf-course-fronting 24 Fairway Dr. (3br/3ba, 2045 sqft.) which sold off-market at $1.650M.

So 5 Malaga was going to…

Among the many issues that can arise between neighbors, one is envy.

In real estate, price envy can turn quickly to calculation.

A person sees the neighbor sell for $X, and starts to think: "What's my place worth?"

From the outside, that looks to be what evolved over at 408 26th, a newer, rear-unit townhome near Grand View school, over the past couple of years.

Way-back-when, when the kids were young and smart phones were small, back in 2013, the front unit of this 2009-built Mediterranean complex snagged a then-astonishing $2.799M off-market. That was 2520 Alma (3br/4ba, 2520 sq. ft.), which gets panoramic views since it is the front unit and the top floor is set somewhat higher than neighbors across Alma.

That sale, basically unprecedented when it…