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 848 11th Street BD/BA 6br/6ba SQFT 4613 sqft LOT 6002 PRICE $4,599,000 $PSF $997 DOM 0 DOM START $ $4,599,000 START 04/22/21
Address 3808 The Strand Drive BD/BA 4br/7ba SQFT 4772 sqft LOT 3501 PRICE $13,500,000 $PSF $2,829 DOM 0 DOM START $ $13,500,000 START 04/21/21
Address 117 Crest Drive BD/BA 4br/5ba SQFT 2520 sqft LOT 1666 PRICE $4,950,000 $PSF $1,964 DOM 0 DOM START $ $4,950,000 START 03/30/21
Address 3416 The Strand BD/BA 5br/5ba SQFT 3934 sqft LOT 3494 PRICE $11,500,000 $PSF $2,923 DOM 1 DOM START $ $11,500,000 START 01/28/21
Address 509 Marine Avenue BD/BA 6br/5ba SQFT 4179 sqft LOT 3709 PRICE $4,399,000 $PSF $1,053 DOM 2 DOM START $ $4,399,000 START 04/20/21
Address 1412 Laurel Avenue BD/BA 6br/5ba SQFT 5700 sqft LOT 5432 PRICE $6,999,000 $PSF $1,228 DOM 3 DOM START $ $6,999,000 START 04/19/21
Address 508 The Strand BD/BA 5br/6ba SQFT 3963 sqft LOT 3337 PRICE $19,900,000 $PSF $5,021 DOM 3 DOM START $ $19,900,000 START 03/18/21
Address 2305 Bayview Drive BD/BA 3br/4ba SQFT 2570 sqft LOT 3496 PRICE $4,199,000 $PSF $1,634 DOM 6 DOM START $ $4,199,000 START 04/16/21
Address 937 8th Street BD/BA 5br/6ba SQFT 5151 sqft LOT 7200 PRICE $6,999,000 $PSF $1,359 DOM 6 DOM START $ $6,999,000 START 04/09/21
Address 129 38th Street BD/BA 6br/9ba SQFT 3720 sqft LOT 2701 PRICE $4,475,000 $PSF $1,203 DOM 7 DOM START $ $4,475,000 START 02/05/21
Address 121 15th Street BD/BA 3br/4ba SQFT 1900 sqft LOT 0 PRICE $4,500,000 $PSF $2,368 DOM 8 DOM START $ $4,500,000 START 02/24/21
Address 1516 The Strand BD/BA 4br/4ba SQFT 4953 sqft LOT 3330 PRICE $17,900,000 $PSF $3,614 DOM 8 DOM START $ $17,900,000 START 02/16/21
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $12,000,000 $PSF $2,807 DOM 13 DOM START $ $12,000,000 START 04/07/21
Address 516 21st Street BD/BA 4br/4ba SQFT 3540 sqft LOT 3772 PRICE $5,350,000 $PSF $1,511 DOM 19 DOM START $ $5,350,000 START 04/01/21
Address 919 1st Street BD/BA 4br/4ba SQFT 2700 sqft LOT 8599 PRICE $8,300,000 $PSF $3,074 DOM 19 DOM START $ $8,300,000 START 03/25/21
Address 216 7th Street BD/BA 4br/6ba SQFT 4800 sqft LOT 2702 PRICE $9,650,000 $PSF $2,010 DOM 20 DOM START $ $9,650,000 START 03/25/21
Address 220 13th Street BD/BA 7br/6ba SQFT 3275 sqft LOT 2673 PRICE $4,699,000 $PSF $1,435 DOM 20 DOM START $ $4,875,000 START 01/24/21
Address 220 8th Street BD/BA 4br/4ba SQFT 4195 sqft LOT 2709 PRICE $10,000,000 $PSF $2,384 DOM 27 DOM START $ $10,000,000 START 03/22/21
Address 1023 1st Street BD/BA 2br/1ba SQFT 1325 sqft LOT 7595 PRICE $4,250,000 $PSF $3,208 DOM 28 DOM START $ $4,250,000 START 03/24/21
Address 549 3rd Street BD/BA 5br/6ba SQFT 4000 sqft LOT 2692 PRICE $4,950,000 $PSF $1,238 DOM 29 DOM START $ $4,950,000 START 03/15/21
Address 825 Highview Avenue BD/BA 4br/5ba SQFT 4709 sqft LOT 5346 PRICE $9,750,000 $PSF $2,071 DOM 43 DOM START $ $10,195,000 START 03/03/21
Address 2615 Palm Avenue BD/BA 4br/4ba SQFT 3260 sqft LOT 4643 PRICE $4,395,000 $PSF $1,348 DOM 115 DOM START $ $4,395,000 START 12/04/20
Address 865 3rd Street BD/BA 4br/5ba SQFT 4372 sqft LOT 5700 PRICE $5,599,000 $PSF $1,281 DOM 162 DOM START $ $5,999,000 START 11/10/20
Address 4117 The Strand (aka Ocean Dr) Drive BD/BA 5br/3ba SQFT 2804 sqft LOT 3500 PRICE $5,999,000 $PSF $2,139 DOM 193 DOM START $ $5,999,000 START 09/18/20
Address 224 32nd Street BD/BA 4br/5ba SQFT 4367 sqft LOT 2698 PRICE $6,999,997 $PSF $1,603 DOM 272 DOM START $ $7,499,000 START 07/17/20
Address 592 30th Street BD/BA 5br/7ba SQFT 4648 sqft LOT 4804 PRICE $4,699,000 $PSF $1,011 DOM 280 DOM START $ $4,699,000 START 06/05/20
Address 201 15th Street BD/BA 6br/3ba SQFT 2093 sqft LOT 2701 PRICE $4,289,000 $PSF $2,049 DOM 312 DOM START $ $4,550,000 START 04/22/20
Address 2615 Crest Drive BD/BA 3br/5ba SQFT 3216 sqft LOT 1752 PRICE $5,999,999 $PSF $1,866 DOM 332 DOM START $ $6,499,000 START 05/01/20
Address 2016 Ocean Drive BD/BA 5br/6ba SQFT 5739 sqft LOT 2698 PRICE $14,000,000 $PSF $2,439 DOM 562 DOM START $ $14,000,000 START 09/09/19

 

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