Prices for the row-house style townhomes in the "Manhattan Pointe" development east of Aviation once appeared to have peaked, then faced a modest pullback.
Not so fast!
Now 225 Aviation Place (3br/3ba, 1646 sqft.) has closed for $1.400M, besting the previous highest-priced sale by $20K.
It's quite an accomplishment, and something of a bolt out of the blue.
The property was sold off-market, which sometimes means there's a premium paid just to give a buyer an exclusive opportunity.
But it was also not a very updated unit, featuring carpeting not only in the bedrooms, but in the main living room as well.
All units in the complex bear a 2002 build date, and most we've seen have been recognizable, rather than gutted and totally redone somehow. Those with any remodeling often have had fairly modest upgrades.
It's that relative sameness across all of the units that helps to make the complex interesting not only in itself, but also as a partial barometer for Manhattan Beach home prices.
Here's a look at almost 7 years' worth of sales of units in the complex:
It made sense that the highest-ever price came in Spring 2022, right as the covid-impacted real estate rally drew to a close. Everything was peaking then.
But did you have a new high for Manhattan Pointe on your bingo card for this year?
You could treat this as a one-off – it was, after all, an off-market sale in a very specific little complex – but we see this bounce at about the same time as we are seeing prices rally back in other parts of East Manhattan, in particular.
Stick that finger in the wind... what's blowing?
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of September 17th, 2024 at 12:55pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
