recent sales

To judge by the most recent closed sales come in, you'd think no one knows how to price a house anymore.

We've seen markets where nearly every listing price seemed to be an overreach. Today, start prices seem to be literally just the starting points. Consider these very recent closings:

510 23rd (4br/4ba, 3200 sq. ft.) is a 2009-built Spanish in the gaslamp district.

Start Price: $2.699M

Sold Price: $2.826M

Amount Over Asking: +$127K / +4%

Note: That result was different from when the same home debuted back in 2008-09. It ran 7 months on market and sold for 16% under the asking price way-back-when, the year your kindergartner was born.

1901 Lynngrove (3br/1ba, 1100 sq. ft.) is a mostly original corner-lot cottage in Liberty Village. The home has

At this rate, the average DOM for East MB listings is going to be tiny here in 2015.

Two of this weekend's open houses were sold (in escrow) by the kickoff of the Super Bowl. Already, 3 listings from the prior week had made deals.

Indeed, as of early Monday morning, all 7 of the most recent Manhattan Beach real estate listings to go into escrow were east of Sepulveda.

Here are the most recent 9 listings in East MB to go into escrow. (Email subscribers will have to click here or "View this email in your browser" to see all of the listings in a grid.)

Among those, we'd call out a few:

1901 Lynngrove (3br/1ba, 1100 sq. ft.) is a corner-lot Liberty Village cottage that's a bit updated but still has the original 1 bath limitation. For some extra square

It's early yet here in 2015, but a couple of recent sales suggest we're picking up right where 2014 left off.

New construction projects in the Tree Section and El Porto were looking for unprecedented numbers, and seem to have hit them quickly.

First up, we'll take a quick look at the new townhome at 228 38th St. (3br/4ba, 2175 sq. ft.).

It's a wide-open modern with very good views up north toward Malibu. We're told that the lot is a bit wider than the norm (around 5'), allowing for notably bigger rooms.

There are relatively few photos, as the home was not quite complete before it sold. (We never even got a chance to tour.)

The builder knew there was a buzz about it, though, and took an already-ambitious price and jacked it up before the first offer…

Last year, Manhattan Beach real estate saw a new high with a median home price of $1.900M.

So, what's a typical median-priced house in Manhattan Beach going to look like?

Turns out, we have 7 answers for you. 

That's because 7 homes sold in 2014 for exactly that new median price. This is an interesting way to get a picture of what that money buys in a few different areas of town.

For more on median prices in 2014 and past years, see our recent post: "MB Median Prices Rocket to New High in 2014."

Here's the full gallery of 7 homes:

3504 Palm (5br/4ba, 3450 sq. ft.) is a late-90s Mediterranean in the Tree Section with modest upgrades, but largely original.

It features the fairly open, great-room floorplan that's more or less standard for family homes…