tree section

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Wow, the Manhattan Beach real estate market is really slowing down.

Ha ha.

That may be fanciful, but we do see a couple of new options west of Sepulveda at or under $1.5M, which has been since... forever, it seems.

717 35th (2br/2ba, 950 sqft.) is asking $1.495M.

It's a charmer, if a bit small.

The larger-than-typical 5400 sqft. lot is street-to-alley, a nice plus.

OK, almost all of that value is in the land, and it might be low. Still, what an encouraging start.

But hey diddle diddle, it's not even the ONLY new listing under $1.5M.

There's also the next-door neighbor, 713 35th (2br/1ba, 1000 sqft.), boasting the same basic attributes (home size & lot size), and the same asking price: $1.495M.

Buy two for $3M and start building a compound.

(Or if…

People want to see signs... omens... hints of what is to come.

There are no guarantees of future performance this year, but look at some deals made in the first 5 weeks of 2016:

611 Bayview (3br/4ba, 2720 sqft.) is a slick, modern and nearly new view townhouse near town but on the quiet alley street just up off of Manahattan Ave.

Purchased new for $3.250M in January 2014, this one was quite nearly the first Manhattan Beach Sand Section townhome to ever garner more than $3M. (Off The Strand, that is, to be clear.)

But that was so, so long ago... two years.

Listed for $4.650M this year, this market maker is doing it again – getting an offer within 9 days.

That $1.4M markup is +43% over 24 months. In retrospect, maybe they got a deal on the original…

We'll now continue with our look back at Manhattan Beach real estate data from 2015.

Here are the highest sale prices in the suburban Tree Section last year.

Highest Sale of 2015

Tree Section (Martyrs Division)

621 13th (4br/5ba, 5650 sqft.) was something of a surprise when it swept onto the market in late March last year.

Occupying a 4200 sqft. lot – plus sized for the area, though not a double lot – the 3-story modern offers very good views in a downtown-adjacent location.

Closed Price: $6.150M in May 2015.

The layout is unusual, with several bedrooms in different places (more than the official 4br mentioned in the listing). As we said in our March 29 open-house post:

"There is a substantial custom-ness to the layout... The first level hosts 3…

With another new high sale for new construction in the Tree Section, it's time for another iteration of our theme: 3 is the new 2 in Manhattan Beach. 

What we mean here is that there was a time when new construction in the Tree Section could be had for a $2 million-ish price. (Use your Wayback Machine.) Now, there will be a 3 in front, for sure.

3101 Maple (5br/5ba, 3200 sqft.) is the newest example. And for this one, they've pushed the ceiling a little higher.

Oh, we don't mean 11' ceilings in the living areas or bedrooms. We mean that a sale price here of $3.500M raises the bar yet again for local home prices.

At 3200 sqft., this is quite nearly $1,100/PSF for a home that's east of Pacific.

The deal was arranged during construction, while the…