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 325 9th Street BD/BA 5br/5ba SQFT 4093 sqft LOT 2686 PRICE $5,899,000 $PSF $1,441 DOM 1 DOM START $ $5,899,000 START 07/03/20
Address 501 8th Street BD/BA 5br/5ba SQFT 4175 sqft LOT 2711 PRICE $5,895,000 $PSF $1,412 DOM 2 DOM START $ $5,895,000 START 07/02/20
Address 844 10th Street BD/BA 5br/6ba SQFT 4556 sqft LOT 6002 PRICE $4,895,000 $PSF $1,074 DOM 6 DOM START $ $4,895,000 START 06/04/20
Address 511 Pacific Avenue BD/BA 5br/9ba SQFT 7961 sqft LOT 9355 PRICE $7,950,000 $PSF $999 DOM 11 DOM START $ $7,950,000 START 06/23/20
Address 2600 Vista Drive BD/BA 5br/5ba SQFT 3775 sqft LOT 2702 PRICE $4,349,000 $PSF $1,152 DOM 15 DOM START $ $4,349,000 START 06/17/20
Address 229 8th Street BD/BA 5br/6ba SQFT 4145 sqft LOT 2703 PRICE $8,799,000 $PSF $2,123 DOM 16 DOM START $ $8,799,000 START 06/18/20
Address 429 5th Street BD/BA 5br/4ba SQFT 3255 sqft LOT 2703 PRICE $4,895,000 $PSF $1,504 DOM 18 DOM START $ $4,895,000 START 06/16/20
Address 1619 9th Street BD/BA 5br/6ba SQFT 4948 sqft LOT 7507 PRICE $4,249,000 $PSF $859 DOM 22 DOM START $ $4,249,000 START 06/12/20
Address 604 31st Street BD/BA 5br/5ba SQFT 3628 sqft LOT 4772 PRICE $4,195,000 $PSF $1,156 DOM 23 DOM START $ $4,195,000 START 05/29/20
Address 592 30th Street BD/BA 5br/7ba SQFT 4648 sqft LOT 4804 PRICE $4,699,000 $PSF $1,011 DOM 29 DOM START $ $4,699,000 START 06/05/20
Address 457 30th Street BD/BA 5br/4ba SQFT 3562 sqft LOT 2703 PRICE $4,500,000 $PSF $1,263 DOM 33 DOM START $ $4,950,000 START 06/01/20
Address 309 20th BD/BA 5br/5ba SQFT 4200 sqft LOT 2701 PRICE $6,599,000 $PSF $1,571 DOM 37 DOM START $ $6,599,000 START 05/28/20
Address 705 Crest Drive BD/BA 5br/5ba SQFT 2407 sqft LOT 1771 PRICE $4,295,000 $PSF $1,784 DOM 39 DOM START $ $4,295,000 START 05/26/20
Address 1920 The Strand BD/BA 5br/7ba SQFT 5574 sqft LOT 3340 PRICE $16,900,000 $PSF $3,032 DOM 43 DOM START $ $16,900,000 START 05/21/20
Address 648 30th Street BD/BA 5br/6ba SQFT 4750 sqft LOT 4804 PRICE $4,999,000 $PSF $1,052 DOM 44 DOM START $ $4,999,000 START 05/19/20
Address 1215 Fisher Avenue BD/BA 5br/6ba SQFT 5400 sqft LOT 3000 PRICE $6,995,000 $PSF $1,295 DOM 44 DOM START $ $6,995,000 START 05/05/20
Address 125 8th Street BD/BA 5br/6ba SQFT 4083 sqft LOT 2681 PRICE $8,495,000 $PSF $2,081 DOM 46 DOM START $ $8,495,000 START 05/19/20
Address 4216 The Strand BD/BA 5br/6ba SQFT 3825 sqft LOT 3510 PRICE $7,000,000 $PSF $1,830 DOM 49 DOM START $ $7,000,000 START 05/16/20
Address 577 31st Street BD/BA 5br/6ba SQFT 4369 sqft LOT 5025 PRICE $4,479,000 $PSF $1,025 DOM 50 DOM START $ $4,479,000 START 05/15/20
Address 117 17th Street BD/BA 3br/4ba SQFT 3813 sqft LOT 2694 PRICE $8,399,000 $PSF $2,203 DOM 50 DOM START $ $8,399,000 START 05/15/20
Address 436 27th Street BD/BA 4br/5ba SQFT 3473 sqft LOT 2402 PRICE $4,150,000 $PSF $1,195 DOM 54 DOM START $ $4,300,000 START 05/11/20
Address 528 15th Street BD/BA 6br/6ba SQFT 6483 sqft LOT 6241 PRICE $11,750,000 $PSF $1,812 DOM 59 DOM START $ $11,750,000 START 05/06/20
Address 617 31st Street BD/BA 7br/8ba SQFT 5084 sqft LOT 5019 PRICE $5,495,000 $PSF $1,081 DOM 59 DOM START $ $5,495,000 START 05/06/20
Address 2615 Crest Drive BD/BA 3br/6ba SQFT 3216 sqft LOT 1752 PRICE $6,199,000 $PSF $1,928 DOM 64 DOM START $ $6,499,000 START 05/01/20
Address 2816 Manhattan Avenue BD/BA 3br/4ba SQFT 2362 sqft LOT 1756 PRICE $4,490,000 $PSF $1,901 DOM 71 DOM START $ $4,490,000 START 04/24/20
Address 200 15th Street BD/BA 7br/6ba SQFT 3084 sqft LOT 2844 PRICE $4,950,000 $PSF $1,605 DOM 73 DOM START $ $4,950,000 START 04/22/20
Address 201 15th Street BD/BA 6br/3ba SQFT 2093 sqft LOT 2701 PRICE $4,399,000 $PSF $2,102 DOM 73 DOM START $ $4,550,000 START 04/22/20
Address 129 38th Street BD/BA 6br/9ba SQFT 3720 sqft LOT 2701 PRICE $4,475,000 $PSF $1,203 DOM 74 DOM START $ $4,475,000 START 04/21/20
Address 3616 The Strand C BD/BA 4br/3ba SQFT 2548 sqft LOT 4676 PRICE $4,795,000 $PSF $1,882 DOM 75 DOM START $ $4,795,000 START 03/05/20
Address 453 31st Street BD/BA 5br/6ba SQFT 4302 sqft LOT 2700 PRICE $4,795,000 $PSF $1,115 DOM 82 DOM START $ $4,795,000 START 03/13/20
Address 848 11th Street BD/BA 6br/6ba SQFT 4613 sqft LOT 6002 PRICE $4,723,000 $PSF $1,024 DOM 105 DOM START $ $4,723,000 START 03/21/20
Address 220 16th Street BD/BA 5br/4ba SQFT 2701 sqft LOT 2707 PRICE $5,299,000 $PSF $1,962 DOM 107 DOM START $ $5,499,000 START 03/19/20
Address 3301 Pine Avenue BD/BA 5br/7ba SQFT 5723 sqft LOT 9283 PRICE $6,500,000 $PSF $1,136 DOM 115 DOM START $ $6,500,000 START 03/11/20
Address 3400 The Strand BD/BA 5br/6ba SQFT 5478 sqft LOT 3502 PRICE $15,900,000 $PSF $2,903 DOM 116 DOM START $ $15,900,000 START 03/10/20
Address 440 6th Street BD/BA 6br/6ba SQFT 4144 sqft LOT 2700 PRICE $5,795,000 $PSF $1,398 DOM 132 DOM START $ $5,995,000 START 01/07/20
Address 3808 The Strand BD/BA 4br/7ba SQFT 4772 sqft LOT 3501 PRICE $15,500,000 $PSF $3,248 DOM 136 DOM START $ $15,500,000 START 02/19/20
Address 1804 The Strand BD/BA 5br/5ba SQFT 3994 sqft LOT 3329 PRICE $18,500,000 $PSF $4,632 DOM 144 DOM START $ $18,500,000 START 02/11/20
Address 724 13th Street BD/BA 6br/7ba SQFT 4844 sqft LOT 2999 PRICE $5,285,000 $PSF $1,091 DOM 169 DOM START $ $5,495,000 START 08/21/19
Address 216 13th Street BD/BA 5br/5ba SQFT 4620 sqft LOT 2706 PRICE $7,499,000 $PSF $1,623 DOM 212 DOM START $ $7,999,000 START 12/05/19
Address 2016 Ocean Drive BD/BA 5br/6ba SQFT 5739 sqft LOT 2698 PRICE $14,000,000 $PSF $2,439 DOM 299 DOM START $ $14,000,000 START 09/09/19
Address 116 4th Street BD/BA 4br/5ba SQFT 4226 sqft LOT 2692 PRICE $12,900,000 $PSF $3,053 DOM 304 DOM START $ $15,900,000 START 08/06/19
Address 224 16th Street BD/BA 5br/5ba SQFT 4224 sqft LOT 2698 PRICE $6,875,000 $PSF $1,628 DOM 322 DOM START $ $7,295,000 START 08/17/19

 

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