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

This Brand New 4-level Custom Single Family Hom...

OPEN HOUSE

2509 Alma Avenue

Manhattan Beach, CA

  • 3 BR
  • 5 BA
  • 2,427 SqFt.
  • 1,356 Lot

$4,799,000

Active

DOM: 15

Price:
$4,799,000
BR/BA:
3br / 5ba
Sq. ft.:
2,427
Area:
142 - Manhattan Bch Sand
City:
Manhattan Beach
DOM:
15

This Custom Home Sits On A Sprawling 11,999 Sf ...

RECENT PRICE CUT

853 10th Street

Manhattan Beach, CA

  • 7 BR
  • 10 BA
  • 7,606 SqFt.
  • 11,999 Lot

$8,199,999

Active

DOM: 76

Price:
$8,199,999
BR/BA:
7br / 10ba
Sq. ft.:
7,606
Area:
144 - Manhattan Bch Hill
City:
Manhattan Beach
DOM:
76

*** New Construction*** This 5 Bedroom, 6.5 Bat...

OPEN HOUSE

592 30th Street

Manhattan Beach, CA

  • 5 BR
  • 7 BA
  • 4,648 SqFt.
  • 4,804 Lot

$4,699,000

Active

DOM: 399

Price:
$4,699,000
BR/BA:
5br / 7ba
Sq. ft.:
4,648
Area:
143 - Manhattan Bch Tree
City:
Manhattan Beach
DOM:
399
ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 808 The Strand BD/BA 4br/5ba SQFT 2911 sqft LOT 5070 PRICE $11,695,000 $PSF $4,018 DOM 6 DOM START $ $11,695,000 START 07/30/21
Address 2215 Bayview Drive BD/BA 4br/4ba SQFT 2630 sqft LOT 3505 PRICE $4,600,000 $PSF $1,749 DOM 7 DOM START $ $4,600,000 START 07/29/21
Address 605 29th Street BD/BA 5br/6ba SQFT 5002 sqft LOT 4801 PRICE $5,499,999 $PSF $1,100 DOM 8 DOM START $ $5,499,999 START 07/28/21
Address 225 27th Street BD/BA 4br/2ba SQFT 2270 sqft LOT 2491 PRICE $4,999,000 $PSF $2,202 DOM 13 DOM START $ $4,999,000 START 07/23/21
Address 2304 Grandview Avenue BD/BA 5br/4ba SQFT 4092 sqft LOT 4480 PRICE $4,199,000 $PSF $1,026 DOM 14 DOM START $ $4,199,000 START 07/22/21
Address 2707 N Poinsettia Avenue BD/BA 5br/6ba SQFT 4400 sqft LOT 4460 PRICE $4,895,000 $PSF $1,113 DOM 14 DOM START $ $4,895,000 START 07/22/21
Address 2509 Alma Avenue BD/BA 3br/5ba SQFT 2427 sqft LOT 1356 PRICE $4,799,000 $PSF $1,977 DOM 15 DOM START $ $5,195,000 START 06/18/21
Address 124 11th Street BD/BA 4br/5ba SQFT 3966 sqft LOT 2711 PRICE $8,750,000 $PSF $2,206 DOM 21 DOM START $ $9,450,000 START 07/15/21
Address 1430 2nd Street BD/BA 3br/3ba SQFT 2283 sqft LOT 13634 PRICE $4,850,000 $PSF $2,124 DOM 28 DOM START $ $4,850,000 START 07/08/21
Address 1145 Fisher Avenue BD/BA 4br/6ba SQFT 4716 sqft LOT 3000 PRICE $5,999,000 $PSF $1,272 DOM 36 DOM START $ $5,999,000 START 06/30/21
Address 511 Pacific Avenue BD/BA 5br/9ba SQFT 7961 sqft LOT 9355 PRICE $7,950,000 $PSF $999 DOM 38 DOM START $ $7,950,000 START 06/29/21
Address 428 36th Street BD/BA 4br/5ba SQFT 4064 sqft LOT 2702 PRICE $4,750,000 $PSF $1,169 DOM 41 DOM START $ $4,750,000 START 06/25/21
Address 417 2nd Street BD/BA 5br/6ba SQFT 4331 sqft LOT 2691 PRICE $5,950,000 $PSF $1,374 DOM 42 DOM START $ $6,250,000 START 06/24/21
Address 2508 The Strand BD/BA 4br/6ba SQFT 4554 sqft LOT 3502 PRICE $12,999,000 $PSF $2,854 DOM 43 DOM START $ $12,999,000 START 06/16/21
Address 235 No. Dianthus Street BD/BA 5br/5ba SQFT 5700 sqft LOT 6500 PRICE $8,400,000 $PSF $1,474 DOM 48 DOM START $ $9,300,000 START 06/18/21
Address 868 9th Street BD/BA 5br/6ba SQFT 5526 sqft LOT 5795 PRICE $9,868,000 $PSF $1,786 DOM 48 DOM START $ $9,868,000 START 06/18/21
Address 228 20th Street BD/BA 5br/5ba SQFT 4144 sqft LOT 2700 PRICE $5,845,000 $PSF $1,410 DOM 48 DOM START $ $5,995,000 START 06/15/21
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $12,000,000 $PSF $2,807 DOM 57 DOM START $ $12,000,000 START 04/07/21
Address 504 John Street BD/BA 5br/5ba SQFT 4783 sqft LOT 7003 PRICE $9,499,000 $PSF $1,986 DOM 62 DOM START $ $9,499,000 START 06/04/21
Address 853 10th Street BD/BA 7br/10ba SQFT 7606 sqft LOT 11999 PRICE $8,199,999 $PSF $1,078 DOM 76 DOM START $ $8,688,000 START 05/21/21
Address 1516 The Strand BD/BA 4br/4ba SQFT 4953 sqft LOT 3330 PRICE $17,900,000 $PSF $3,614 DOM 79 DOM START $ $17,900,000 START 05/18/21
Address 224 29th Street BD/BA 5br/6ba SQFT 5219 sqft LOT 3155 PRICE $9,500,000 $PSF $1,820 DOM 79 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 86 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 92 DOM START $ $6,995,000 START 05/05/21
Address 4112 The Strand BD/BA 4br/4ba SQFT 2550 sqft LOT 3507 PRICE $7,490,000 $PSF $2,937 DOM 94 DOM START $ $7,490,000 START 05/03/21
Address 509 Marine Avenue BD/BA 6br/5ba SQFT 4179 sqft LOT 3709 PRICE $4,399,000 $PSF $1,053 DOM 107 DOM START $ $4,399,000 START 04/20/21
Address 508 The Strand BD/BA 5br/6ba SQFT 4325 sqft LOT 3337 PRICE $19,900,000 $PSF $4,601 DOM 140 DOM START $ $19,900,000 START 03/18/21
Address 224 32nd Street BD/BA 4br/5ba SQFT 4268 sqft LOT 2698 PRICE $7,000,000 $PSF $1,640 DOM 315 DOM START $ $7,499,000 START 07/17/20
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 321 DOM START $ $5,999,000 START 09/18/20
Address 724 13th Street BD/BA 6br/7ba SQFT 4844 sqft LOT 2999 PRICE $4,995,000 $PSF $1,031 DOM 354 DOM START $ $5,495,000 START 08/21/19
Address 592 30th Street BD/BA 5br/7ba SQFT 4648 sqft LOT 4804 PRICE $4,699,000 $PSF $1,011 DOM 399 DOM START $ $4,699,000 START 06/05/20
Address 200 15th Street BD/BA 7br/6ba SQFT 3084 sqft LOT 2844 PRICE $4,399,000 $PSF $1,426 DOM 440 DOM START $ $4,950,000 START 04/22/20

 

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