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

One Of The Most Desirable Walkstreets In Mb! Th...

OPEN HOUSE

220 16th Street

Manhattan Beach, CA

  • 5 BR
  • 4 BA
  • 2,701 SqFt.
  • 2,707 Lot

$5,999,000

Active

DOM: 37

Price:
$5,999,000
BR/BA:
5br / 4ba
Sq. ft.:
2,701
Area:
142 - Manhattan Bch Sand
City:
Manhattan Beach
DOM:
37

Welcome To 420 5th Street, From The Exterior To...

OPEN HOUSE

420 5th Street

Manhattan Beach, CA

  • 5 BR
  • 7 BA
  • 4,282 SqFt.
  • 2,699 Lot

$6,845,000

Active

DOM: 67

Price:
$6,845,000
BR/BA:
5br / 7ba
Sq. ft.:
4,282
Area:
142 - Manhattan Bch Sand
City:
Manhattan Beach
DOM:
67
ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 113 S. Dianthus Street BD/BA 3br/1ba SQFT 1194 sqft LOT 6260 PRICE $5,600,000 $PSF $4,690 DOM 11 DOM START $ $5,600,000 START 11/17/21
Address 4113 Crest Drive BD/BA 2br/3ba SQFT 2295 sqft LOT 1350 PRICE $4,900,000 $PSF $2,135 DOM 16 DOM START $ $4,900,000 START 11/12/21
Address 3100 Palm Avenue BD/BA 4br/5ba SQFT 3344 sqft LOT 4573 PRICE $4,000,000 $PSF $1,196 DOM 17 DOM START $ $4,000,000 START 11/11/21
Address 665 19th Street BD/BA 5br/7ba SQFT 3598 sqft LOT 4398 PRICE $4,899,000 $PSF $1,362 DOM 17 DOM START $ $4,899,000 START 11/08/21
Address 825 Highview Avenue BD/BA 4br/5ba SQFT 5000 sqft LOT 5346 PRICE $8,999,000 $PSF $1,800 DOM 27 DOM START $ $8,999,000 START 11/01/21
Address 220 16th Street BD/BA 5br/4ba SQFT 2701 sqft LOT 2707 PRICE $5,999,000 $PSF $2,221 DOM 37 DOM START $ $5,999,000 START 10/22/21
Address 873 8th Street BD/BA 5br/5ba SQFT 4969 sqft LOT 5770 PRICE $5,299,000 $PSF $1,066 DOM 38 DOM START $ $5,299,000 START 10/21/21
Address 407 Larsson Street BD/BA 6br/6ba SQFT 4839 sqft LOT 6876 PRICE $4,800,000 $PSF $992 DOM 43 DOM START $ $4,800,000 START 10/16/21
Address 300 N Dianthus Street BD/BA 6br/6ba SQFT 5500 sqft LOT 7565 PRICE $6,799,000 $PSF $1,236 DOM 53 DOM START $ $6,999,000 START 10/06/21
Address 219 Anderson Street BD/BA 6br/7ba SQFT 6483 sqft LOT 8141 PRICE $8,950,000 $PSF $1,381 DOM 59 DOM START $ $10,000,000 START 09/30/21
Address 2804 The Strand BD/BA 3br/4ba SQFT 3469 sqft LOT 3481 PRICE $16,499,000 $PSF $4,756 DOM 60 DOM START $ $16,499,000 START 09/29/21
Address 420 5th Street BD/BA 5br/7ba SQFT 4282 sqft LOT 2699 PRICE $6,845,000 $PSF $1,599 DOM 67 DOM START $ $6,845,000 START 09/22/21
Address 4114 The Strand BD/BA 4br/6ba SQFT 2250 sqft LOT 3507 PRICE $4,395,000 $PSF $1,953 DOM 109 DOM START $ $4,395,000 START 08/11/21
Address 117 Crest Drive BD/BA 4br/5ba SQFT 2520 sqft LOT 1666 PRICE $4,399,000 $PSF $1,746 DOM 110 DOM START $ $4,495,000 START 06/17/21
Address 2707 N Poinsettia Avenue BD/BA 5br/6ba SQFT 4400 sqft LOT 4460 PRICE $4,649,000 $PSF $1,057 DOM 115 DOM START $ $4,895,000 START 07/22/21
Address 808 The Strand BD/BA 4br/5ba SQFT 2911 sqft LOT 5070 PRICE $10,990,000 $PSF $3,775 DOM 121 DOM START $ $11,695,000 START 07/30/21
Address 2522 The Strand BD/BA 3br/4ba SQFT 2740 sqft LOT 3498 PRICE $8,500,000 $PSF $3,102 DOM 126 DOM START $ $8,500,000 START 08/11/21
Address 235 No. Dianthus Street BD/BA 5br/5ba SQFT 5700 sqft LOT 6500 PRICE $7,900,000 $PSF $1,386 DOM 142 DOM START $ $9,300,000 START 06/18/21
Address 868 9th Street BD/BA 5br/6ba SQFT 5526 sqft LOT 5795 PRICE $8,999,000 $PSF $1,628 DOM 163 DOM START $ $9,868,000 START 06/18/21
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $12,000,000 $PSF $2,807 DOM 172 DOM START $ $12,000,000 START 04/07/21
Address 224 29th Street BD/BA 5br/6ba SQFT 5219 sqft LOT 3155 PRICE $8,999,000 $PSF $1,724 DOM 194 DOM START $ $9,500,000 START 05/18/21
Address 404 17th Street BD/BA 3br/3ba SQFT 3149 sqft LOT 2636 PRICE $4,399,000 $PSF $1,397 DOM 201 DOM START $ $4,600,000 START 05/11/21
Address 424 20th Street BD/BA 8br/10ba SQFT 6073 sqft LOT 5148 PRICE $6,995,000 $PSF $1,152 DOM 207 DOM START $ $6,995,000 START 05/05/21
Address 509 Marine Avenue BD/BA 6br/5ba SQFT 4179 sqft LOT 3709 PRICE $4,399,000 $PSF $1,053 DOM 222 DOM START $ $4,399,000 START 04/20/21
Address 200 15th Street BD/BA 7br/6ba SQFT 3084 sqft LOT 2844 PRICE $4,199,000 $PSF $1,362 DOM 555 DOM START $ $4,950,000 START 04/22/20

 

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