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The Extinction of $1M Listings in Manhattan Beach

Home price inflation has been a real factor everywhere in recent years.

In Manhattan Beach, prices have moved up and  flattened out so high, there has not been a $1 million or sub-$1 million sale since March 2021, approaching three full years.

This year, there was one close call.

1457 Manhattan Beach Blvd. Boulevard B, Manhattan Beach, CAA 2br condo at 1457 Manhattan Beach Blvd., Unit C, was asking $1.099M but got $1.005M in September this year.*

Shave another $5K off that, and it'd have been right at $1M.

There were 6 other sales this year under $1.300M, all of them also 2br condos/townhomes on Manhattan Beach Blvd. or very nearby (one was at 1440 12th St.), and all east of Sepulveda.

There's just one active listing in all of Manhattan Beach today that could potentially get under $1M, although that's up to a buyer and the seller.

It's a 2br condo (of course) at the corner of Manhattan Beach Blvd. (of course) and Pacific Ave. (oh!), west of Sepulveda (ooooh!).

1117 Pacific Avenue 7, Manhattan Beach, CAThat's 1117 Pacific Ave. #7 (2br/2ba, 881 sqft.), in a location we'd call the Hill Section, but the listing places it in the Sand Section.

Asking price: $1.099M, with 40 DOM.

(The property is listed by Jane Sager, Re/Max Estate Properties.)

It's part of a multi-unit building surrounding a pool, the epitome of 1950s SoCal design. The unit itself is highly upgraded and walkable to town. And did we mention the pool?

We'll see how they do, but right now it's looking like we will see the end of 2023 without any new sub-$1M sales.

The last time we did see a sub-$1M sale in Manhattan Beach, it was (ready?) a 2br condo east of Sepulveda and near to Manhattan Beach Blvd. at 1334 12th St., Unit A.

They tried to sell far under $1M, asking $899K, but it got bid up to $990K, closing March 22, 2021.

So in a town where we see one current $30M listing, a median price near $3M and one house threatening to come out asking $150M, it's pretty clear what we don't have here: Cheap housing.

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* Editor's note: The first image is from the sale of a different unit at 1457 Manhattan Beach Blvd. (Unit B). The lower sale at Unit C was listed in the MLS, but – in a very uncommon choice – the listing was not published on the internet.

Please see our blog disclaimer.

Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.

Based on information from California Regional Multiple Listing Service, Inc. as of April 27th, 2024 at 10:31pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.