While Summer often sees a slowdown in real estate market activity, the Manhattan Beach Tree Section is staying plenty busy.
Here are recent new escrows and closed sales to help you track the market.
Latest New Escrows
2209 N. Valley Drive (4br/3ba, 3524 sqft.) needed only 3 days on market to ink a deal.
On paper, it's a 1980s house on a busy street.
But thanks to both prior renovations and extremely recent remodeling, it was much easier for buyers to see how it checks the boxes. It's a move-in-ready family-size home priced lower than most others in the area.
2209 N. Valley was asking $3.195M
632 26th Street (4br/4ba, 3502 sqft.) is a late 1980s build in a superb location.
Besides the kitchen, which is fully modern, most of the house is more original than not.
Location wins. In escrow within 2 weeks. Asking was $3.999M.
3213 Pine Ave (5br/5ba, 3281 sqft.) is just a 2-year-old custom-built home.
Notably, it came out at the same price as the 1980s house referenced above, but in just a "good" location.
It was asking $4.000M and made a deal in 10 days.
2311 Palm Avenue (4br/4ba, 3588 sqft.) is a quite unique contemporary on one of the very best blocks of the Tree Section.
Was it a plain-vanilla, down-the-middle house just like all the others? No.
It needed 9 days to find a buyer. It was asking $3.995M
2807 Elm Avenue (5br/5ba, 3471 sqft.) is a 2006 Mediterranean on a larger-than-typical lot (~5600 sqft.)
With paint and countertops downstairs, the living spaces were refreshed and modernized, though much of the home is still heavy with Mediterranean accents.
This one needed to make two deals, one after 8 days, and a second almost 3 weeks after they fell out of escrow.
This one was asking $4.095M.
We'll take a break from these $4M homes for a sec.
600 26th Street (3br/2ba, 1400 sqft.) is a smallish, radically restyled cottage.
The work was just completed and has an L.A. architectural modern vibe.
Note that above we called a different home with a 26th St. address a "superb" location. This one's nearby, but also along Blanche.
This one was asking $2.750M and was under contract within a week.
716 Rosecrans Avenue (3br/2ba, 1500 sqft.) is another smaller, nicely remodeled home on an even busier road.
It was asking $2.395M and needed only 10 days on market.
3312 Palm (5br/6ba, 3599 sqft.) is the only home on this list of recent Tree Section deals that took a while.
But there's a good reason. You can't move in.
This is a "pre-completion" listing of new construction. It won't be ready till midyear next year. The big idea for the buyer is to lock in your future property at today's prices. You might even find loan packages that give you some rate certainty.
After 101 days on market, asking $4.699M, they found the right buyer.
So let's recap some basic stats.
We see 6 Tree Section homes that needed less than 2 weeks to find a buyer.
One more accomplished that feet, signing a contract within 8 days, but fell out and needed extra time.
Only one ran a "long" time, mostly because it's still being built.
That's a fast-paced market.
Right now.
July 2022 Sales
We'll look at this month's sales so far, in price order, highest to lowest.
615 23rd Street (5br/6ba, 4388 sqft.) is large, new construction in a prime location near the base of the hill that leads up to Grand View and over to the beach.
It sold for $6.225M, $226K over asking.
577 36th Street (5br/5ba, 4000 sqft.) is also new construction, sold for asking: $4.249M.
1601 Pine Avenue (5br/5ba, 2962 sqft.) is a completely retooled/reimagined 2011 original, sold for $4.200M, barely below asking. We noted the other day that this was an extraordinarily high PPSF of $1,418/PSF, nearly unheard-of in the Trees.
595 35th Street (6br/5ba, 3704 sqft.) is a pretty charming '04 build, sold for $4.085M, just $15K off the ask.
1420 Elm Avenue (5br/4ba, 3432 sqft.) is an '04 Mediterranean that aspired to $4.000M, but sold for $3.650M.
750 14th Street (4br/3ba, 3049 sqft.) is a recently remodeled home in the Arbolado Ct. "planned unit development" near Martyrs.
After a brief 15 DOM, it sold for $5K more than asking, $3.255M.
2800 Laurel Avenue (4br/4ba, 3880 sqft.) is a mostly original 1990 build that sold relatively quickly (14 DOM) for $349K less than asking, at $3.250M.
2603 Flournoy Road (3br/2ba, 1609 sqft.) is a nicely located cottage that aspired to $3.000M, but sold for $2.750M.
Dare we do some stats?
Here we have 2 sales over asking, one by $5K and one by $226K.
One home sold for asking.
Then 5 others sold under asking, two by ~$350K, one by $250K, one by $50K and one under by $15K.
Current Active Listings
Meantime, there remain some options on the market for those looking now. As we post, there are 9 active listings. Viewing this post live on the MB Confidential website, you'll see a constantly updated list of active inventory in the Tree Section. So if more are added, this list will be larger, and if homes go into escrow, this list may be shorter.
As always, click any property image or address to see the full property details, listing broker information and all photos on the site.
