Top Heavy? More Than 1/3rd of MB Listings are $4M+

By Dave Fratello | May 7th, 2019

More than a third of the Manhattan Beach real estate market is made up of homes priced above $4 million.

In fact, it's 36%.

They come to market just a couple at a time.

659 18th Street Manhattan Beach CALast week, there were 2 (712 Pacific and 659 18th, pictured).

The couple of weeks before, 3 more.

And so on.

Consider the cluster of new listings last week in the $2.7-$2.9M range, which is a relative sweet spot in this market. Not a lot of listings in that price range tend to hang around.

Pricier listings tend to stretch out, gaining more DOM as they work to find a buyer. It's not unusual to find a $4M+ listing with 2-3 months on market, or even 200+ days. (See the list below.)

OK, so it takes longer to sell a top-tier listing. That's just important to know whether you are a buyer or seller in that price tier. But how unusual is the mix of 36% now over $4M?

One measure is to look at sales totals.

In 2018, just 15% of sold listings were priced at $4M and above.

In 2017, it was 17% of solds over $4M.

Back in 2016, only 9% of solds were priced over $4M.

To be fair, the proper, like-to-like comparison of current inventory against prior years would be to inventory in prior years, not closed sales. Give these $4M+ homes a chance to find their buyers, or not.

But that phrase we've heard, that the market is getting a bit "top-heavy" with higher-end listings, does make some sense in light of the data we see now.

Below is a display of all local listings priced over $4M. At the time of this post, it's 44 active listings. Email subscribers will need to view this post online to see all the homes.

Homes for Sale in Manhattan Beach Priced $4M and Above

This Remodeled, Charming Beach Home Is Located ...

RECENT PRICE CUT

329 4th Street

Manhattan Beach, CA

  • 3 BR
  • 2 BA
  • 1,700 SqFt.
  • 2,711 Lot

$4,199,000

Active

DOM: 16

Price:
$4,199,000
BR/BA:
3br / 2ba
Sq. ft.:
1,700
Area:
Sand Section
City:
Manhattan Beach
DOM:
16

This Is A Very Rare Opportunity To Own This Tim...

OPEN HOUSE

1246 10th

Manhattan Beach, CA

  • 6 BR
  • 6 BA
  • 7,000 SqFt.
  • 7,500 Lot

$5,495,000

Active

DOM: 38

Price:
$5,495,000
BR/BA:
6br / 6ba
Sq. ft.:
7,000
Area:
East MB
City:
Manhattan Beach
DOM:
38

Major Reduction. Best Value (below Replacement ...

RECENT PRICE CUT

235 4th Street

Manhattan Beach, CA

  • 4 BR
  • 6 BA
  • 4,135 SqFt.
  • 2,478 Lot

$7,399,000

Active

DOM: 176

Price:
$7,399,000
BR/BA:
4br / 6ba
Sq. ft.:
4,135
Area:
Sand Section
City:
Manhattan Beach
DOM:
176
ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 1751 8th Street BD/BA 6br/6ba SQFT 5826 sqft LOT 7500 PRICE $5,400,000 $PSF $927 DOM 0 DOM START $ $5,400,000 START 08/22/19
Address 724 13th Street BD/BA 6br/7ba SQFT 4844 sqft LOT 2999 PRICE $5,495,000 $PSF $1,134 DOM 1 DOM START $ $5,495,000 START 08/21/19
Address 3519 Manhattan Avenue BD/BA 7br/7ba SQFT 4200 sqft LOT 2702 PRICE $5,500,000 $PSF $1,310 DOM 1 DOM START $ $5,500,000 START 08/22/19
Address 472 Rosecrans Avenue BD/BA 6br/6ba SQFT 2663 sqft LOT 2888 PRICE $4,400,000 $PSF $1,652 DOM 1 DOM START $ $4,400,000 START 08/21/19
Address 225 25th Street BD/BA 5br/4ba SQFT 2563 sqft LOT 2708 PRICE $4,900,000 $PSF $1,912 DOM 2 DOM START $ $4,900,000 START 08/20/19
Address 224 16th Street BD/BA 5br/5ba SQFT 4224 sqft LOT 2698 PRICE $7,295,000 $PSF $1,727 DOM 5 DOM START $ $7,295,000 START 08/17/19
Address 216 Marine BD/BA 3br/4ba SQFT 1951 sqft LOT 2710 PRICE $4,100,000 $PSF $2,101 DOM 7 DOM START $ $4,100,000 START 08/15/19
Address 328 19th Street BD/BA 5br/5ba SQFT 4107 sqft LOT 2698 PRICE $5,795,000 $PSF $1,411 DOM 7 DOM START $ $5,795,000 START 07/29/19
Address 3400 The Strand BD/BA 5br/6ba SQFT 5478 sqft LOT 3502 PRICE $16,750,000 $PSF $3,058 DOM 10 DOM START $ $16,750,000 START 08/12/19
Address 704 Manhattan Avenue BD/BA 3br/4ba SQFT 2450 sqft LOT 3567 PRICE $4,890,000 $PSF $1,996 DOM 16 DOM START $ $4,890,000 START 08/06/19
Address 329 4th Street BD/BA 3br/2ba SQFT 1700 sqft LOT 2711 PRICE $4,199,000 $PSF $2,470 DOM 16 DOM START $ $4,399,000 START 08/07/19
Address 116 4th Street BD/BA 4br/5ba SQFT 4226 sqft LOT 2692 PRICE $15,900,000 $PSF $3,762 DOM 16 DOM START $ $15,900,000 START 08/06/19
Address 763 11th Street BD/BA 4br/6ba SQFT 4935 sqft LOT 6404 PRICE $7,700,000 $PSF $1,560 DOM 21 DOM START $ $7,700,000 START 08/01/19
Address 127 16th Street BD/BA 5br/3ba SQFT 2157 sqft LOT 2700 PRICE $7,200,000 $PSF $3,338 DOM 28 DOM START $ $7,200,000 START 07/25/19
Address 460 29th Street BD/BA 4br/6ba SQFT 3852 sqft LOT 2708 PRICE $4,200,000 $PSF $1,090 DOM 28 DOM START $ $4,200,000 START 07/25/19
Address 608 15th Street BD/BA 5br/6ba SQFT 5050 sqft LOT 6238 PRICE $4,695,000 $PSF $930 DOM 34 DOM START $ $4,894,000 START 07/19/19
Address 653 27th Street BD/BA 5br/6ba SQFT 4668 sqft LOT 4801 PRICE $5,350,000 $PSF $1,146 DOM 36 DOM START $ $5,350,000 START 07/17/19
Address 910 28th Street BD/BA 5br/6ba SQFT 5036 sqft LOT 5000 PRICE $4,495,000 $PSF $893 DOM 37 DOM START $ $4,595,000 START 07/16/19
Address 1246 10th BD/BA 6br/6ba SQFT 7000 sqft LOT 7500 PRICE $5,495,000 $PSF $785 DOM 38 DOM START $ $5,495,000 START 07/15/19
Address 309 20th Street BD/BA 5br/5ba SQFT 4200 sqft LOT 2701 PRICE $7,050,000 $PSF $1,679 DOM 38 DOM START $ $7,050,000 START 07/15/19
Address 128 18th Street BD/BA 5br/6ba SQFT 3991 sqft LOT 2697 PRICE $7,395,000 $PSF $1,853 DOM 41 DOM START $ $7,395,000 START 07/12/19
Address 428 32nd Street BD/BA 4br/4ba SQFT 4293 sqft LOT 2692 PRICE $4,250,000 $PSF $990 DOM 43 DOM START $ $4,250,000 START 07/10/19
Address 304 N Ardmore Avenue BD/BA 5br/6ba SQFT 6342 sqft LOT 7095 PRICE $6,895,000 $PSF $1,087 DOM 44 DOM START $ $6,895,000 START 07/09/19
Address 3203 Vista Drive BD/BA 5br/5ba SQFT 3178 sqft LOT 1751 PRICE $5,250,000 $PSF $1,652 DOM 48 DOM START $ $5,250,000 START 07/05/19
Address 424 1st Street BD/BA 5br/5ba SQFT 4404 sqft LOT 3002 PRICE $4,799,000 $PSF $1,090 DOM 52 DOM START $ $4,995,000 START 06/28/19
Address 943 Duncan Avenue BD/BA 4br/5ba SQFT 4882 sqft LOT 6993 PRICE $4,199,000 $PSF $860 DOM 56 DOM START $ $4,199,000 START 06/27/19
Address 1161 Duncan Drive BD/BA 5br/4ba SQFT 3213 sqft LOT 20871 PRICE $5,000,000 $PSF $1,556 DOM 62 DOM START $ $5,000,000 START 06/21/19
Address 400 16th Street BD/BA 5br/5ba SQFT 3935 sqft LOT 2700 PRICE $5,995,000 $PSF $1,524 DOM 63 DOM START $ $5,995,000 START 06/20/19
Address 401 5th Street BD/BA 5br/6ba SQFT 4250 sqft LOT 2694 PRICE $6,495,000 $PSF $1,528 DOM 65 DOM START $ $6,495,000 START 06/19/19
Address 2600 Vista Drive BD/BA 5br/5ba SQFT 3775 sqft LOT 2702 PRICE $4,888,000 $PSF $1,295 DOM 71 DOM START $ $4,888,000 START 06/12/19
Address 200 S Poinsettia Avenue BD/BA 6br/6ba SQFT 5061 sqft LOT 6256 PRICE $7,199,000 $PSF $1,422 DOM 77 DOM START $ $7,199,000 START 06/06/19
Address 815 1st Street BD/BA 4br/4ba SQFT 3226 sqft LOT 8604 PRICE $4,600,000 $PSF $1,426 DOM 79 DOM START $ $4,600,000 START 06/04/19
Address 4122 The Strand BD/BA 5br/5ba SQFT 4154 sqft LOT 3503 PRICE $7,200,000 $PSF $1,733 DOM 82 DOM START $ $7,200,000 START 06/01/19
Address 4117 The Strand (aka Ocean Dr) Drive BD/BA 5br/3ba SQFT 2804 sqft LOT 3500 PRICE $6,500,000 $PSF $2,318 DOM 82 DOM START $ $6,500,000 START 06/01/19
Address 210 Poinsettia Avenue BD/BA 6br/6ba SQFT 5486 sqft LOT 6250 PRICE $8,500,000 $PSF $1,549 DOM 92 DOM START $ $8,500,000 START 05/14/19
Address 861 8th Street BD/BA 5br/7ba SQFT 5656 sqft LOT 5751 PRICE $5,899,000 $PSF $1,043 DOM 97 DOM START $ $6,299,000 START 05/17/19
Address 304 26th Street BD/BA 3br/5ba SQFT 3419 sqft LOT 3519 PRICE $4,799,500 $PSF $1,404 DOM 108 DOM START $ $4,999,995 START 05/06/19
Address 440 6th Street BD/BA 6br/6ba SQFT 4144 sqft LOT 2700 PRICE $6,450,000 $PSF $1,556 DOM 121 DOM START $ $6,850,000 START 04/23/19
Address 409 3rd Street BD/BA 5br/6ba SQFT 4173 sqft LOT 2705 PRICE $4,995,000 $PSF $1,197 DOM 141 DOM START $ $5,795,000 START 04/04/19
Address 229 19th Street BD/BA 5br/4ba SQFT 4538 sqft LOT 2701 PRICE $5,499,000 $PSF $1,212 DOM 146 DOM START $ $5,875,000 START 03/29/19
Address 577 31st Street BD/BA 5br/6ba SQFT 4369 sqft LOT 5025 PRICE $4,650,000 $PSF $1,064 DOM 163 DOM START $ $4,799,000 START 03/12/19
Address 235 4th Street BD/BA 4br/6ba SQFT 4135 sqft LOT 2478 PRICE $7,399,000 $PSF $1,789 DOM 176 DOM START $ $8,300,000 START 02/27/19
Address 1000 The Strand BD/BA 9br/8ba SQFT 5967 sqft LOT 4979 PRICE $25,900,000 $PSF $4,341 DOM 177 DOM START $ $25,900,000 START 02/26/19
Address 2304 The Strand BD/BA 3br/3ba SQFT 2360 sqft LOT 3497 PRICE $8,990,000 $PSF $3,809 DOM 216 DOM START $ $9,950,000 START 01/18/19
Address 1026 Pacific Avenue BD/BA 6br/8ba SQFT 7161 sqft LOT 6006 PRICE $7,495,000 $PSF $1,047 DOM 344 DOM START $ $8,800,000 START 09/05/18
Address 3416 The Strand BD/BA 5br/5ba SQFT 3934 sqft LOT 3494 PRICE $11,995,000 $PSF $3,049 DOM 466 DOM START $ $12,395,000 START 04/12/18

 

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