sales data

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It's time for one of our twice-monthly updates on Manhattan Beach real estate market activity, with updated spreadsheets on inventory and sales.

First we'll just note that, out of nowhere, it seems, El Porto prices seem to be equalizing with the rest of Manhattan Beach. The most recent example is this week's sale of new construction at 229 Rosecrans Place (3br/4ba, 2330 sqft.) at $2.565M.

We've taken note of this trend in stages. Whereas typically there was some kind of discount for properties north of Rosecrans, now, that's not as clear. (See our posts from 2014, "Big New Numbers in El Porto" and "El Porto: En Fuego.")

Dave had a listing late last year of a single-family home at 209 41st (3br/4ba, 1885 sq. ft.), in the very center of El Porto.

We

Definitely one of the most common types of questions we hear – among working agents and regular working folks like you – is something like, "How Long Can This (Rally) Go On?"

Recently we've heard a buzz that there's been a "slowing down" in the Manhattan Beach real estate market in the first part of this year.

But that's not what the data say.

Closed sales are a looking-backward measure, to be sure, but they don't paint a picture of any slowing.

We're looking here at the number of closed sales in the first 3 months of each of the past 8 years. There are clear dips in 2008-2009, as the market wobbled and dropped.

After the recovery began in Q3 2009, the first quarter of 2010 was "normal" at 74 closed sales, the same level hit in 2014 (minus 1) and here

No fooling, it's time for one of our twice-monthly updates on Manhattan Beach real estate market activity, with updated spreadsheets on inventory and sales.

We like to look at notable sales of the period, and this one had its share. Over the past 2 weeks, some highlights were:

1321 Voorhees (6br/5ba, 3600 sqft.), a new spec build on a smaller-than-normal East MB lot (5245 sqft.), actually hit the MLS in January already in escrow at $2.799M.

That deal broke up, but within a couple days, the spacious new Plantation-style home had a new buyer. Turns out, that buyer paid more: $2.900M on the newly closed sale.

This one really raises the bar for East MB new construction. If a standard-to-large home (3600 sqft.) on a smaller lot can fetch $2.9M, what is a

Back a bit before Christmas, we tried to calm MBC readers who were thinking that the the ocean-view lot at 864 5th in the Hill Section might be selling for less than $2M. Such a deal?

In "No, That's Not a Lot Under $2M," we pointed out that the active listing price of $1.949M had already been exceeded in a first-round bidding war.

The price had settled around $2.6M, but that was pending an all-important "court confirmation" with a potential for overbids in court.

That court hearing happened Jan. 23, and overbidding happened there.

The closed sale has now posted: $2.900M. That's for a 5700 sq. ft. lot that gets some views from front and back (that photo's from the back deck of the current structure).

Next stop: New construction. And do you even want to…