sand section

There are currently 498 blog entries related to this category.

You probably know that short-term rentals have been effectively banned in Manhattan Beach.

But what about short-term ownership? Not regulated yet.

1313 Pine Avenue Manhattan Beach CASome recent listings have come to market after being acquired not-so-very-long-ago. You have to wonder: What changed? (We don't make it this blog's business to dive into the personal stories, even when we do hear.)

A recent closed sale at 1313 Pine (pictured) was a moderate success story. The 5br/4ba, 3260 sqft. home was purchased early last year while it was being framed out as a spec home. The buyer just couldn't let it go to someone else, so they paid $3.290M in Jan. 2015. 

This year, they offered it back on the public market for $3.499M, but found that the market wasn't quite there.

The sale at $3.345M

Maybe we are in for a long Summer.

Inventory hit 129 on Tuesday, just another new high, but people are still bringing homes to market looking to sell.

527 14th Street Manhattan Beach CAThis, while we enter a season that is typically heavy with tourists but lighter with buyers. That's just Summer for you.

So how will you sell in this environment?

Pricing and patience.

And if you need to, cuts. (Fixing the pricing if the market doesn't respond.)

A word to the wise: If you don't sell at once, and start cutting, buyers who do come are in a mood to negotiate further still. That's how the wind's blowing.

Here's a partial list of recent price cuts (pictured here is 527 14th, noted below) :

Hill Section 

934 Duncan Avenue Manhattan Beach CA934 Duncan (5br/5ba, 4050 sqft.) (pictured) is a custom early-90s home with updates

There has been no doubting the pricing trend on Sand Section townhomes: Up.

They've just pre-sold one new construction townhome on Manhattan Ave. south of the pier for a reported $5M, and now the back unit of that complex-to-be is looking for nearly 6.

Early this year you had 611 Bayview (3br/4ba, 2720 sqft.) setting the tone, coming in with a closed sale price of $4.650M – a case where the prior sale on the same unit was just 2 full years prior at $3.250M, or 43% less.

428 23rd Street Manhattan Beach CAIn context, then, the Feb. 2016 sale price on the brand new, large townhome at 428 23rd (4br/5ba, 2735 sqft.) at $3.745M might not have been too much of a shock.

Even if it was a bit of a shock.

The 400 block of 23rd is a nice location. We've got clients right nearby. This unit was…