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It's time for one of our twice-monthly market updates. 

Inventory bounced up a little, but there have been plenty of sales – some quick and shocking.

This being Summer, it's natural to look at the beach and see what's up in the Sand Section.

Oh, my, did $12M worth of lots just trade at Bruce's Beach?

2520 Manhattan Ave. and 2519 Bayview, neighboring 1750 sqft. lots on the south side of the park, both listed in late June at $4.000M each. Immediate deals were rung up. Wow.

The stage was set for these deals with a recent sale at 217 27th, on the north side of the park. A lot there traded for $4.100M, about $100K over asking, in late May. That seems to have been something of an inspiration to the owners of those two lots right across, on the south side of

Recently we got a somewhat desperate message from a buyer: Is there any chance we can get into Manhattan Beach west of Sepulveda under $1.5M?

This came near the culmination of a long and fruitless search for properties in that price range.

The reluctant reply: No, not really. You'll have to compromise on location or price.

As is so often the case in this market, those buyers wound up compromising on both.

But (the good news) they did make a deal west of the highway.

As we write today, there are only 2 SFRs west of Sepulveda active under $1.5M:

3601 N. Poinsettia (3br/1ba, 1070 sqft.), a small and largely original cottage with a few obvious liabilities, not least the shared driveway.

The location is way over by Rosecrans in the Tree Section.

Asking…

Even just the last week has seemed busy in the Manhattan Beach real estate market. You want options? They've been coming: 15 new listings in 7 days.

The problem (stop us if this sounds familiar)... There were 14 new deals made in the same span. So the 7-day net increase in inventory was +1.

We're going to focus on just a few new construction projects that have found buyers most recently:

2412 John (3br/3ba, 1890 sqft.) is unconventional for new construction and has been polarizing, in a way, among market watchers. Why build under-sized on a prime street? Why go mid-century? Are buyers really looking for green & modern?

For an uncomfortably long time – OK, just 90 days – the doubters were winning the day. 2412 John was too ambitiously priced at $2.799M…

One segment of Manhattan Beach real estate with a concentration of recent sales is the Liberty Village neighborhood.

Just this week, two fairly original homes came to market and moved quickly to change hands:

1508 Harkness (3br/2ba, 1550 sqft.) is an original Liberty Village cottage (ca. 1950) that we said, in our Sunday Opens post, is "ready for 'the treatment' by its next owner."

Surely there were those interested in the land alone at the start price of $1.299M, which is basically what sellers got for the corner-lot home at 1901 Lynngrove in February. (The listed sale price was $1.291M.)

We'd expect multiple offers and the final sale at Harkness to an owner-user looking to do a major remodel. Worth watching.

As a measure of the market's movement in…