Median prices are mere statistics.
What do they really tell you about homes in Manhattan Beach?
With news last week that the median price for homes in Manhattan Beach has just hit a new high of $2.400M, we have a better way to describe what that statistic means: Show you the houses.
In this case, there was not just one house that sold for $2.400M, nor were there only 2 or 3.
There were seven houses at the same price.
This allows for a really good picture of the "median" house for Manhattan Beach.
Remember, the median price is that point at which half the homes sold for more, and half sold for less. These were the 7 homes right smack in the middle of the diverse Manhattan Beach market.
Here they all are, ordered by areas of MB:
2605 Pine (4br/4ba, 3325 sqft.) is a late-90s home that had something of a Mediterranean feel inside, although, with its partly shingled exterior, something of a different look outside - was it beachy, French Country, hybrid?
When it debuted early in 2018, we saw it as a lot of Tree Section house for the money, and suggested that in pricing it at $2.400M, the sellers had "decided they're just not going to mess around."
Comps included some lower, and some up to $2.500M. They got the $2.400M asking price.
The home lacks a 5th bedroom/guest room downstairs, has a split-level design that does seem to date it somewhat, and might benefit from updated flooring and cabinetry.
In sum, it was perfectly fine, and lent itself to potential upgrades for an ambitious buyer. Which is an interesting way to describe both a "median house" and what you can get for $2.400M.
1713 Pacific (4br/3ba, 2600 sqft.) is a midsized 1970s house has some built-in quirks.
The entry is far down along one side (nicely paved with newer flagstone), and there's a split-level setup with a living room down below some of the living areas, opening to a sizable yard.
The 4800 sqft. lot feels big in back because the home isn't. The home is much more forward on the lot, opening up that big back area. The yard is nicely paved with a grassy area also, and an outdoor fireplace.
Back in the middle of the home, an updated, open kitchen with fairly modern upgrades is a focal point, with formal dining up to the front of the house (with its own bay window) and a smallish family room off to one side of the kitchen.
All 4 bedrooms are upstairs, with remodeled baths. The 3 secondary bedrooms share one hallway bath.
The home's main assets had to be location (super close to Pacific Elementary as well as Martyrs, walkable to town) and that big yard.
Given the curiosities of the home, they priced low, at $2.200M, but immediately got a gusher of offers.
Sale price? You already knew: $2.400M.
599 36th (4br/3ba, 3200 sqft.) is a 1980s custom Spanish on a corner lot on Blanche.
It was easy to see the home as very Manhattan Beach, cozy and warm, not terribly up-to-date or fashion-crazy.
Several homes like this one along Blanche have sold recently without too much time on market, suggesting that the traffic and busy-ness of that neighborhood street has not been much of a deterrent.
This one sold within 2 weeks for $100 over asking: $2.400M.
3101 Alma (3br/4ba, 1870 sqft.) is a 2005-built custom built Spanish townhome.
There are some ocean views, especially down the street.
The North End location puts it close to the shops and restaurants of our "second downtown."
The home sold off-market (for $2.400M) and later posted to the MLS as a comp.
3612 Alma (4br/4ba, 2500 sqft.) is another Mediterranean TH in the North End.
This one showed with a bold sense of its own style. It also has some views, 4br (less common in townhomes) and a large, open great room.
The did some good work to refinish and style the place for market, and it basically worked.
Start was $2.495M, but they got (wait for it): $2.400M.
Wait!?! They sold a Hill Section house for $2.4M?
946 11th (3br/2ba, 1730 sqft.) was really more of a lot sale, though.
It's one of the bigger lots on the east/city side of the hill, at 7500 sqft. (More like an East MB lot.)
Location is just east of Poinsettia, but not too near to the church parking lot that can be an eyesore for homes several doors down.
Asking $2.700M, this sold within 2 weeks for (ready?!) $2.400M.
East Manhattan Beach
1622 10th (5br/5ba, 3500 sqft.) is a unique and – can we use this word again? – slightly quirky 1980s Spanish with some really nice upgrades.
A truly giant formal living room greets you at the entry. A separate dining room is in back, along with a warm kitchen and smallish family room.
The backyard is nicely outfitted with built-ins and artificial turf. With its 7500 sqft. lot, there's a lot of outdoor space on the sunny southern side.
Upstairs, there are 3 conventional bedrooms (including the master) and another that has only a tiny closet, and might serve more as a bonus room.
They weren't sure what this one might be worth, put it out at $2.200M, and sold it for... drumroll please... $2.400M.
OK, that's your wrapup of Manhattan Beach homes right in the "middle" of the market.
We'll return to take more looks at 2018 statistics and home sales from more angles soon.