tree section

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We don't have to go back too far, or dig too deep, to talk about the rarity of $4M+ listings in the Tree Section.

New to market is a home that's neither new nor enormous – 2104 Flournoy (5br/5ba, 4300 sqft.) but does boast a large yard (on its 8600+ sqft lot).

They're starting at $4.900M.

A $4M+ listing could be expected right over by Martyrs, sure. That's a rarefied market unto itself.

(And you could argue that 2104 Flournoy gets some Martyrs glow, even if it's not on the teen streets running up from Ardmore that you'd normally call prime Martyrs blocks.)

Besides the Martyrs area, in the rest of the Trees? You can count the $4M+ sales on one hand.

This is now the third listing of the year in the Trees with a 4-handle, and one's already sold.

The…

The masses gathered, $5,000 cashiers' checks in hand. 

2701 Oak (2bd/1ba, 900 sqft.), a corner lot on the "right" side of Oak, needed a new owner. All the hopefuls came ready to play.

The jokey $799K start price was there merely in place to fulfill a requirement that an MLS-listed property have some kind of pricetag on it.

The auction, however, set the market level: $1,340,000.

That's reasonably in line with an extremely recent comp: A lot sale at 1405 Oak, listed for $1.249M, drew multiple offers and closed last week for $1.300M.

And 1405 Oak lacked the corner location and boasted only 4200 sqft. of land, 280 sqft. less than 2701 Oak. Clearly 2701 was worth more.

Next stop for 2701 Oak: A court confirmation process. This could result in an overbid,…

It's time for one of our twice-monthly updates on Manhattan Beach real estate market activity, with updated spreadsheets on inventory and sales.

First we'll just note that, out of nowhere, it seems, El Porto prices seem to be equalizing with the rest of Manhattan Beach. The most recent example is this week's sale of new construction at 229 Rosecrans Place (3br/4ba, 2330 sqft.) at $2.565M.

We've taken note of this trend in stages. Whereas typically there was some kind of discount for properties north of Rosecrans, now, that's not as clear. (See our posts from 2014, "Big New Numbers in El Porto" and "El Porto: En Fuego.")

Dave had a listing late last year of a single-family home at 209 41st (3br/4ba, 1885 sq. ft.), in the very center of El Porto.

We

Here's a quick look at what your typical family is finding in the Manhattan Beach Tree Section this year.

If your budget is around $2.5M or lower, the briefing below is one way to assess what your money might buy.

Here are the past 6 months' worth of sales (including new escrows) on all of the 13 listings priced between $2.0-$2.6M, sorted by highest price to lowest price:

1308 Walnut (5br/4ba, 3275 sq. ft.) is a 1999 Cape Cod that has gotten a good round of updates, particularly to the kitchen and master. The backyard is built out nicely for outdoor living as well.

The kitchen got a nice upgrade, with island & butlers pantry counters in soap stone with tumbled marble backsplash. The flooring downstairs is primarily hardwood.

Location-wise, it's a…