sand section

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3220 Alma Avenue Manhattan Beach CAFriday morning, a custom-built beach home with a basement and nice views at 3220 Alma (4br/5ba, 3350 sqft.) went into escrow.

The listing had run 100 days, dropping slightly from a start of $4.650M to the current price of $4.450M.

This could be just one line in our MB Property Ticker; one little note about a blip of action in the market.

But there was something more significant here.

3220 Alma is only the second home priced over $4M to make a deal in the past month.

232 6th Street Manhattan Beach CAThe other deal was on much pricier new construction at 232 6th (5br/7ba, 4300 sqft.), a fairly spectacular achievement of a modern, with nice views (tiny neighbor helps) and a unique take on the "boxy modern" that you will sometimes see.

This one emerged in February asking... achem...

New spec construction in the Sand Section doesn't happen often. The spec market focuses on the suburban Tree Section and East Manhattan.

[Side note: Sand Castle construction for prizes happens this Sunday. See this DigMB story or the end of this post for more.]

In the past year, we count only 4 closed sales of new construction in the Sand Section. (It's 11-12 in the Trees over the same span.)

This week, we saw 2 of those 4 new homes close on the same day:

516 4th Street Manhattan Beach CA516 4th (5br/6ba, 4300 sqft.) is a spacious, fairly glamorous, white, bright and open "Plantation Chic" home in the quiet South End.

There's a welcoming, open living room on the entry level, opening to a covered patio and picket-fenced yard. The middle level has no walls except those surrounding a…

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