recent sales

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South of the Manhattan Beach pier, there's a special appeal to Sand Section homes that seems to propel values up.

617 Manhattan Avenue Manhattan Beach CAOne of the latest, and most interesting sales, is 617 Manhattan Ave. (3br/3ba, 1970 sqft.).

It's a 1980s Spanish that could use a round of updates. Big time.

When it launched at $4.900M, you may have assumed that was a full-lot house (2700 sqft.), but no. Per the MLS, the walkstreet-fronting home is situated on a 1344 sqft. plot of land.

Manhattan Ave., which tends to be busier than Highland Ave. south of the pier, runs along a side of the home.

The listing ran a month with no price cuts, but it turns out that the serious buyer who knocked did take a big discount.

The closed sale now: $4.250M. That's 13% under the asking price (-$650K).

If you're a writer or a reader (hi there!), you might know the old saw about headlines that are written in the form of a question.

According to what's known as Betteridge's Law of Headlines, if a header ends with a question mark, the answer is "no." (Example: A blog post titled, "Do Most People Know Betteridge's Law of Headlines?")

But here at MBC, we like toying with tradition. Defying expectations. Mixing it up.

Manhattan Pointe Townhomes Aviation Place Manhattan Beach CAAnd so it was with our headline on a December post about the "Manhattan Pointe" condo complex east of Aviation Blvd.: "Big Bump Coming at Aviation Place?"

Then, most definitively, our predicted answer to the question was, "Yes." A "big bump" was coming.

There had been no sales at all in the 28-unit complex of row-house-inspired townhomes…

329 1st Street Manhattan Beach CAMore than once this past month, we've been in conversation with clients about 329 1st (4br/3ba, 2075 sqft.), for the simple reason that it seemed unusually low-priced at $2.299M. (It's in escrow now.)

Think about that: A single-family home – on a half lot – in the sleepy South End of the Sand Section, offered in the low 2's. (With a glimpse of ocean, to boot!)

How rare, exactly, is that?

Y'know, we love to answer questions with data. We consulted our Advanced Computer Systems.

We found 28 sales of SFRs south of the pier under $3.000M from Jan. 1, 2013-the present. That's about one sale in the area in this price range per 1 1/2 months.

Wouldn't you know it, though – that really overstates how common a property like 329 1st has been:

  • 8 of those sales…

120 5th Street Manhattan Beach CAWhen 120 5th St. sold for $9.300M in September 2014, it was supposed to be an anomaly.

A price over $9 million was supposed to reflect a unique facet of the property: A height restriction imposed on the neighbor that protects the views for 120 5th.

Now, $9M+ for a lower walkstreet property is becoming the norm.

125 2nd Street Manhattan Beach CAThe latest sale is the modern remodel/rebuild at 125 2nd (4br/5ba, 4250 sqft.) at $9.241M (per the MLS).

OK, so they pushed the ceiling a bit with a list price of $10.300M.

The buyer saved $1M and 10% off the list.

It's still a healthy number.

The property was described, in part, in the listing, this way:

"Dream location on the South Manhattan walkstreets... A collaboration three years in the making and literally in as good as new condition.…