sand section

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What if your neighbors put their house on the market and made a headline-grabbing sale?

You'd at least be curious.

If they got x, maybe ours is worth x, too, or maybe capital-y Y?!?

Or if the neighbor is just asking x, why shouldn't ours be worth more?

In this market, why not dip a toe – or a whole foot – into the water and see what happens?

There would appear to be a toe/foot dip going on at 210 15th Place (3br/2ba, 1225 sqft.) – an opportunistic listing occasioned by the companion half-lot home at 209 15th St. hitting the market. 

The 15th St. house emerged last week, asking $2.299M for a dated, smallish house (3br/2ba, 1275 sqft.) on a half lot facing one of the busiest areas of downtown. (Despite the florid language of the listing description and

Hard to believe, but we're only a few years removed from a time when Manhattan Beach Strand homes & lots dipped to the $5M-$7M range.

From today's vantage point, that's like trying to remember the days of dial-up Internet. (Your blog author here began oh-so-long ago at 110 baud, but that's another story.)

We're in a giddy market now, though, one that escalated almost overnight as waterfront homes in Manhattan Beach became must-have prizes not just for locals, but for big money from around the globe.

This trend isn't reversing in the near term with sales like 304 The Strand.

Yes, there's something special about the region south of the pier, and that's just been proved again with a very quick deal for this home/lot, listed at $14.000M and now in escrow

We recently looked at the changing market for Manhattan Beach townhomes through the lens of just one recent deal. (See "How the Townhome Market Has Changed.")

That one deal was for 2301 Vista, a modern-style 3br TH with 2400+ interior square feet that's in escrow after listing about 75% higher than its 2011 purchase price.

But we also like to get away from anecdotes and look at a bit more data.

This time we're trying to get at two questions:

What's a typical price per square foot (PPSF) for a Sand Section townhome now?

What's are the recent trends?

To compare apples to apples, we looked at sales from the first half of each of the past 5 years. That is, Jan. 1-Jan. 30 of each year only (2011-2015).

As you'll see here in our chart, the uptrend is 3…

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