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How rare is this in the past few years?

A new listing comes out. Ocean views. Newer construction. Good location.

The buyer comes in early and says, "Love it. We want it for $350K less."

And the seller says yes!

This unlikely scenario actually went down at 433 21st in August. (The sale just closed.)

The 2009 ocean-view TH is pretty much at the crest of 21st St. and gets good views across the street  to the south and west.

It's average-sized for a Sand Section TH at 3br/4ba, 1925 sqft. (We recently ran an analysis of several years' worth of TH sales in the Sand, finding the rough average of all Manhattan Beach townhomes sold to be more like 2100 sqft.)

There was a lot to recommend the home when it came out at $2.999M in late July. But was there

At a time when everything's selling and everything's hitting new highs, why not the 2006-built townhome complex over at 1202 & 1208 Tennyson?

This week, with the sale of 1208 Tennyson #3 (3br/3ba, 1750 sqft.), we see a sale price $100K higher than any public-market sale in the complex over 2+ years.

It was $985K, per the newly closed MLS sale.

Tax records, however, show that this sale eclipsed the highest-ever sale in the complex by just $10K. That was at 1202 Tennyson #2, an off-market sale that closed in late April at $975K and was just recorded officially last month.

The most recent public-market sale was at 1202 Tennyson #1 (3br/3ba, 1750 sqft.) at $880K in Sept. 2013.

Interestingly, that same 1202 unit #1 had also set the high-water mark for the…

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…

If you know MB Confidential, you know we love a deep dive into data.

And there's a time and a place for that, but today, we'll try to illustrate a trend with just one sale.

Newly pending/in escrow is 2301 Vista, a modern-style 3br TH with 2400+ interior square feet.

This modern townhome was built a ways back, in 2002, but has a very compelling, slick "now" look to it. (The decor, gadgets and super-plus-sized TV's also give it a "guy's paradise" feel.)

The most recent sale here wasn't all that long ago, even if it seems like forever to look back to 2011.

Here, actually, are all 3 of the most recent sales of 2301 Vista:

  • $1.910M in Dec. 2011
  • $1.900M in Nov. 2009
  • $2.099M in Jan. 2007

List price this month was $3.399M, or 78% over the 2011