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

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 401 10th Street BD/BA 4br/5ba SQFT 4100 sqft LOT 2703 PRICE $5,850,000 $PSF $1,427 DOM 2 DOM START $ $5,850,000 START 05/21/19
Address 229 8th Street BD/BA 5br/6ba SQFT 4145 sqft LOT 2703 PRICE $8,995,000 $PSF $2,170 DOM 2 DOM START $ $8,995,000 START 05/21/19
Address 861 8th Street BD/BA 5br/7ba SQFT 5656 sqft LOT 5751 PRICE $6,299,000 $PSF $1,114 DOM 6 DOM START $ $6,299,000 START 05/17/19
Address 436 27th Street BD/BA 4br/5ba SQFT 3473 sqft LOT 2402 PRICE $4,200,000 $PSF $1,209 DOM 7 DOM START $ $4,200,000 START 05/16/19
Address 132 17th Street BD/BA 3br/2ba SQFT 1951 sqft LOT 2697 PRICE $5,995,000 $PSF $3,073 DOM 7 DOM START $ $5,995,000 START 05/16/19
Address 204 16th Street BD/BA 4br/5ba SQFT 4285 sqft LOT 2694 PRICE $7,850,000 $PSF $1,832 DOM 8 DOM START $ $7,850,000 START 05/15/19
Address 220 16th Street BD/BA 5br/4ba SQFT 2701 sqft LOT 2707 PRICE $5,499,999 $PSF $2,036 DOM 8 DOM START $ $5,499,999 START 05/15/19
Address 1755 8th Street BD/BA 5br/8ba SQFT 4836 sqft LOT 7502 PRICE $4,550,000 $PSF $941 DOM 9 DOM START $ $4,550,000 START 05/14/19
Address 401 N Dianthus Street BD/BA 6br/7ba SQFT 6312 sqft LOT 6499 PRICE $7,099,000 $PSF $1,125 DOM 13 DOM START $ $7,099,000 START 05/10/19
Address 3616 The Strand C BD/BA 4br/3ba SQFT 2548 sqft LOT 4676 PRICE $5,625,000 $PSF $2,208 DOM 15 DOM START $ $5,625,000 START 05/08/19
Address 304 26th Street BD/BA 3br/5ba SQFT 3119 sqft LOT 3519 PRICE $4,999,995 $PSF $1,603 DOM 17 DOM START $ $4,999,995 START 05/06/19
Address 659 18th Street BD/BA 4br/3ba SQFT 4037 sqft LOT 6260 PRICE $4,950,000 $PSF $1,226 DOM 21 DOM START $ $4,950,000 START 05/02/19
Address 1215 Fisher Avenue BD/BA 5br/7ba SQFT 5400 sqft LOT 3000 PRICE $6,995,000 $PSF $1,295 DOM 27 DOM START $ $7,295,000 START 04/26/19
Address 2722 N Ardmore Avenue BD/BA 5br/6ba SQFT 5036 sqft LOT 5010 PRICE $4,795,000 $PSF $952 DOM 30 DOM START $ $4,999,000 START 04/23/19
Address 440 6th Street BD/BA 6br/6ba SQFT 4144 sqft LOT 2700 PRICE $6,850,000 $PSF $1,653 DOM 30 DOM START $ $6,850,000 START 04/23/19
Address 717 10th Street BD/BA 5br/4ba SQFT 4266 sqft LOT 5814 PRICE $5,199,000 $PSF $1,219 DOM 31 DOM START $ $5,199,000 START 04/22/19
Address 508 Manhattan Avenue BD/BA 4br/4ba SQFT 2700 sqft LOT 3344 PRICE $5,690,000 $PSF $2,107 DOM 40 DOM START $ $5,690,000 START 04/13/19
Address 676 18th Street BD/BA 6br/8ba SQFT 5843 sqft LOT 6434 PRICE $6,500,000 $PSF $1,112 DOM 42 DOM START $ $6,500,000 START 04/11/19
Address 1643 8th Street BD/BA 5br/6ba SQFT 4836 sqft LOT 7500 PRICE $4,199,000 $PSF $868 DOM 42 DOM START $ $4,199,000 START 04/11/19
Address 409 3rd Street BD/BA 5br/6ba SQFT 4173 sqft LOT 2705 PRICE $5,495,000 $PSF $1,317 DOM 49 DOM START $ $5,795,000 START 04/04/19
Address 229 19th Street BD/BA 5br/4ba SQFT 4538 sqft LOT 2701 PRICE $5,975,000 $PSF $1,317 DOM 55 DOM START $ $5,875,000 START 03/29/19
Address 121 20th Street BD/BA 4br/4ba SQFT 2709 sqft LOT 2694 PRICE $7,985,000 $PSF $2,948 DOM 57 DOM START $ $7,985,000 START 03/27/19
Address 1515 Gates Avenue BD/BA 5br/7ba SQFT 7100 sqft LOT 7497 PRICE $4,950,000 $PSF $697 DOM 58 DOM START $ $4,950,000 START 03/26/19
Address 946 11th Street BD/BA 5br/6ba SQFT 4754 sqft LOT 7505 PRICE $5,300,000 $PSF $1,115 DOM 65 DOM START $ $5,300,000 START 03/19/19
Address 316 10th Street BD/BA 4br/5ba SQFT 4117 sqft LOT 2699 PRICE $4,799,000 $PSF $1,166 DOM 70 DOM START $ $4,799,000 START 03/14/19
Address 577 31st Street BD/BA 5br/6ba SQFT 4369 sqft LOT 5025 PRICE $4,799,000 $PSF $1,098 DOM 72 DOM START $ $4,799,000 START 03/12/19
Address 235 4th Street BD/BA 4br/6ba SQFT 4135 sqft LOT 2478 PRICE $8,300,000 $PSF $2,007 DOM 85 DOM START $ $8,300,000 START 02/27/19
Address 232 16th Street BD/BA 5br/5ba SQFT 4978 sqft LOT 2694 PRICE $6,795,014 $PSF $1,365 DOM 86 DOM START $ $6,795,014 START 02/26/19
Address 1000 The Strand BD/BA 9br/8ba SQFT 5967 sqft LOT 4979 PRICE $25,900,000 $PSF $4,341 DOM 86 DOM START $ $25,900,000 START 02/26/19
Address 817 Pacific Avenue BD/BA 3br/2ba SQFT 1510 sqft LOT 6254 PRICE $5,310,000 $PSF $3,517 DOM 93 DOM START $ $5,310,000 START 02/19/19
Address 4122 The Strand BD/BA 5br/5ba SQFT 4154 sqft LOT 3503 PRICE $7,200,000 $PSF $1,733 DOM 98 DOM START $ $7,200,000 START 02/14/19
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 98 DOM START $ $6,500,000 START 02/14/19
Address 435 29th Street BD/BA 3br/2ba SQFT 1953 sqft LOT 5402 PRICE $4,900,000 $PSF $2,509 DOM 98 DOM START $ $5,500,000 START 02/14/19
Address 1190 Duncan Drive BD/BA 3br/2ba SQFT 2035 sqft LOT 13823 PRICE $4,250,000 $PSF $2,088 DOM 100 DOM START $ $4,250,000 START 02/12/19
Address 228 19th Street BD/BA 3br/2ba SQFT 1530 sqft LOT 2710 PRICE $4,250,000 $PSF $2,778 DOM 101 DOM START $ $4,250,000 START 02/11/19
Address 3305 Pine Avenue BD/BA 5br/7ba SQFT 5715 sqft LOT 9282 PRICE $7,000,000 $PSF $1,225 DOM 105 DOM START $ $7,800,000 START 02/07/19
Address 608 15th Street BD/BA 5br/6ba SQFT 5050 sqft LOT 6238 PRICE $5,149,000 $PSF $1,020 DOM 107 DOM START $ $5,300,000 START 02/05/19
Address 3211 N Poinsettia Avenue BD/BA 5br/4ba SQFT 5500 sqft LOT 9291 PRICE $4,195,000 $PSF $763 DOM 109 DOM START $ $4,295,000 START 02/01/19
Address 2304 The Strand BD/BA 3br/3ba SQFT 2360 sqft LOT 3497 PRICE $9,950,000 $PSF $4,216 DOM 125 DOM START $ $9,950,000 START 01/18/19
Address 227 32nd Street BD/BA 5br/4ba SQFT 2064 sqft LOT 4064 PRICE $4,500,000 $PSF $2,180 DOM 163 DOM START $ $5,000,000 START 12/11/18
Address 1026 Pacific Avenue BD/BA 6br/8ba SQFT 7161 sqft LOT 6006 PRICE $7,495,000 $PSF $1,047 DOM 253 DOM START $ $8,800,000 START 09/05/18
Address 304 N Ardmore Avenue BD/BA 5br/6ba SQFT 6342 sqft LOT 7095 PRICE $7,199,000 $PSF $1,135 DOM 295 DOM START $ $7,199,000 START 08/01/18
Address 3311 Elm Avenue BD/BA 6br/7ba SQFT 5320 sqft LOT 8758 PRICE $4,895,000 $PSF $920 DOM 310 DOM START $ $5,250,000 START 06/26/18
Address 3400 The Strand BD/BA 5br/6ba SQFT 5468 sqft LOT 3502 PRICE $16,999,999 $PSF $3,109 DOM 315 DOM START $ $19,300,000 START 07/12/18
Address 224 16th Street BD/BA 5br/5ba SQFT 4224 sqft LOT 2698 PRICE $7,195,000 $PSF $1,703 DOM 350 DOM START $ $7,195,000 START 06/07/18
Address 3416 The Strand BD/BA 5br/5ba SQFT 3934 sqft LOT 3494 PRICE $11,995,000 $PSF $3,049 DOM 375 DOM START $ $12,395,000 START 04/12/18
Address 127 16th Street BD/BA 5br/3ba SQFT 2157 sqft LOT 2700 PRICE $7,200,000 $PSF $3,338 DOM 667 DOM START $ $7,200,000 START 07/25/17

 

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