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

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616 12th Street

Manhattan Beach, CA

  • 5 BR
  • 5 BA
  • 4,300 SqFt.
  • 3,008 Lot

$7,329,000

Active

DOM: 96

Price:
$7,329,000
BR/BA:
5br / 5ba
Sq. ft.:
4,300
Area:
142 - Manhattan Bch Sand
City:
Manhattan Beach
DOM:
96
ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 3203 Vista Drive BD/BA 5br/5ba SQFT 3178 sqft LOT 1751 PRICE $6,199,000 $PSF $1,951 DOM 3 DOM START $ $6,199,000 START 01/26/23
Address 413 5th Street BD/BA 5br/7ba SQFT 4200 sqft LOT 2703 PRICE $7,750,000 $PSF $1,845 DOM 3 DOM START $ $7,750,000 START 01/26/23
Address 800 N Poinsettia Avenue BD/BA 4br/4ba SQFT 2900 sqft LOT 7201 PRICE $4,999,999 $PSF $1,724 DOM 4 DOM START $ $4,999,999 START 01/25/23
Address 125 9th Street BD/BA 6br/3ba SQFT 2316 sqft LOT 2704 PRICE $5,800,000 $PSF $2,504 DOM 4 DOM START $ $5,800,000 START 01/25/23
Address 904 Highview Avenue BD/BA 3br/4ba SQFT 3643 sqft LOT 6761 PRICE $7,499,000 $PSF $2,058 DOM 7 DOM START $ $7,499,000 START 01/22/23
Address 340 6th Street BD/BA 5br/5ba SQFT 3842 sqft LOT 2694 PRICE $7,450,000 $PSF $1,939 DOM 10 DOM START $ $7,450,000 START 01/19/23
Address 931 1st Street BD/BA 2br/1ba SQFT 948 sqft LOT 9595 PRICE $6,200,000 $PSF $6,540 DOM 10 DOM START $ $6,200,000 START 01/19/23
Address 409 30th St BD/BA 4br/5ba SQFT 2798 sqft LOT 1754 PRICE $5,000,000 $PSF $1,787 DOM 11 DOM START $ $5,000,000 START 01/17/23
Address 4016 The Strand BD/BA 4br/6ba SQFT 3578 sqft LOT 3493 PRICE $8,750,000 $PSF $2,446 DOM 12 DOM START $ $8,750,000 START 01/17/23
Address 904 Highview Avenue BD/BA 3br/3ba SQFT 3643 sqft LOT 6761 PRICE $7,499,000 $PSF $2,058 DOM 17 DOM START $ $7,499,000 START 01/13/23
Address 441 26th Street BD/BA 6br/7ba SQFT 5972 sqft LOT 3514 PRICE $8,395,000 $PSF $1,406 DOM 17 DOM START $ $8,395,000 START 01/13/23
Address 3608 The Strand 1 BD/BA 2br/3ba SQFT 1777 sqft LOT 9334 PRICE $5,700,000 $PSF $3,208 DOM 37 DOM START $ $7,300,000 START 11/25/22
Address 750 29th Street BD/BA 6br/8ba SQFT 4835 sqft LOT 4803 PRICE $6,299,000 $PSF $1,303 DOM 46 DOM START $ $6,299,000 START 12/15/22
Address 413 9th Street BD/BA 6br/5ba SQFT 3800 sqft LOT 2695 PRICE $6,995,000 $PSF $1,841 DOM 53 DOM START $ $7,000,000 START 10/20/22
Address 400 10th Street BD/BA 4br/3ba SQFT 2964 sqft LOT 2711 PRICE $4,695,000 $PSF $1,584 DOM 62 DOM START $ $4,695,000 START 11/28/22
Address 2701 Manhattan Avenue BD/BA 3br/3ba SQFT 2356 sqft LOT 2556 PRICE $5,250,000 $PSF $2,228 DOM 68 DOM START $ $5,250,000 START 11/22/22
Address 616 12th Street BD/BA 5br/5ba SQFT 4300 sqft LOT 3008 PRICE $7,329,000 $PSF $1,704 DOM 96 DOM START $ $7,349,000 START 10/26/22
Address 124 4th Street BD/BA 5br/3ba SQFT 2363 sqft LOT 2697 PRICE $6,000,000 $PSF $2,539 DOM 102 DOM START $ $6,000,000 START 10/20/22
Address 1408 The Strand BD/BA 4br/5ba SQFT 4517 sqft LOT 2983 PRICE $18,250,000 $PSF $4,040 DOM 115 DOM START $ $18,250,000 START 10/06/22
Address 3312 Palm BD/BA 5br/6ba SQFT 3599 sqft LOT 4633 PRICE $4,699,000 $PSF $1,306 DOM 120 DOM START $ $4,699,000 START 04/08/22
Address 2522 The Strand BD/BA 3br/3ba SQFT 2660 sqft LOT 3498 PRICE $8,500,000 $PSF $3,195 DOM 123 DOM START $ $8,900,000 START 09/28/22
Address 4406 The Strand BD/BA 3br/3ba SQFT 2138 sqft LOT 3506 PRICE $4,895,000 $PSF $2,290 DOM 123 DOM START $ $5,249,000 START 09/28/22
Address 124 2nd Street BD/BA 3br/2ba SQFT 1750 sqft LOT 2707 PRICE $6,395,000 $PSF $3,654 DOM 151 DOM START $ $6,875,000 START 08/31/22
Address 500 N Poinsettia Avenue BD/BA 5br/8ba SQFT 8389 sqft LOT 10128 PRICE $22,000,000 $PSF $2,622 DOM 170 DOM START $ $22,000,000 START 08/12/22
Address 2605 Vista Drive BD/BA 4br/4ba SQFT 2678 sqft LOT 3496 PRICE $4,499,000 $PSF $1,680 DOM 180 DOM START $ $4,699,000 START 08/03/22
Address 1908 The Strand BD/BA 3br/3ba SQFT 1733 sqft LOT 3314 PRICE $14,395,000 $PSF $8,306 DOM 187 DOM START $ $14,395,000 START 07/26/22
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $10,500,000 $PSF $2,456 DOM 241 DOM START $ $10,995,000 START 06/02/22
Address 200 S Poinsettia Avenue BD/BA 6br/6ba SQFT 5061 sqft LOT 6256 PRICE $7,500,000 $PSF $1,482 DOM 271 DOM START $ $7,999,999 START 04/27/22
Address 901 28th Street BD/BA 6br/8ba SQFT 5648 sqft LOT 6006 PRICE $5,999,000 $PSF $1,062 DOM 298 DOM START $ $6,249,000 START 04/07/22
Address 845 11th Street BD/BA 6br/5ba SQFT 4315 sqft LOT 9938 PRICE $5,999,000 $PSF $1,390 DOM 315 DOM START $ $7,000,000 START 03/17/22
Address 235 N Dianthus Street BD/BA 5br/5ba SQFT 5152 sqft LOT 6501 PRICE $5,999,000 $PSF $1,164 DOM 347 DOM START $ $8,000,000 START 02/17/22

 

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