walkstreets

It seems there are some sellers in this real estate market who can really only be called "sellers" if they get a big number.

There's been no lack of exposure for the Hill Section corner-lot home for sale at 1007 Pacific, for instance.

The listing for this 5br/5ba home on a nearly 9400 sqft. corner view lot dates back to last October.

Hey hey! A sprawling Hill Section lot with views, and close to downtown Manhattan Beach, to boot. Come and get it, right?

The start at $6.600M was high, though, and the current $6.200M list seems not to be resonating with the market, either.

Is anyone stressed out about it?

It would appear not, even at 220+ DOM.

Either the market will come to them, or the sellers will just enjoy the home.

Down in the Sand Section, with…

From the day the little cottage at 328 6th came to market, it was endangered.

With just 2br and 1300 sqft. of living space, it's undersized – by a lot – for a Manhattan Beach walkstreet home.

Its 2700 sqft. plot could host a 4100 sqft. new house.

And demand for South End flat walkstreet lots has probably never been higher, or less price-sensitive.

The last 3 flat walkstreet lots to trade were:

 316 4th St. at $3.770M in March 2015. (Pictured.)

401 5th St. at $2.710M in September 2014.

440 8th St. at $2.700M in August 2014.

By the time 328 6th came to market in February, asking $3.199M, it was well known that a comp for the listing, the now-closed sale at 316 4th, was in escrow north of $3.7M.

So with really all of that $3.2-ish value in the land,…

Nothing has happened yet this year to slow the momentum of 2014 carrying over into 2015. That means for Manhattan Beach real estate: Look out above.

We've got one big example of the ongoing sky's-no-limit phenomenon to look at, but first, let's look at a place where common sense may reign.

At 1208 Oak (5br/4ba, 3125 sq. ft.), you'll find a 10-year-old Cape Cod, solidly built, with a familiar floorplan and a couple of twists.

The home feels very solid and shows well. With a modern kitchen and tasteful master bath, it's a pretty straightforward home, easy to like... once inside.

So why is this good-sized, newer Tree Section home priced at "only" $2.000M, when comparable homes seem to be selling for $2.3M-$2.5M?

Location, location...

Not only is this…

It has been something of a crazy year for land sales, and we're going to end 2014 with a bang, it looks like.

We'll be focusing on a few of the most recent Sand Section land sales. There's plenty to help drop your jaw to the floor.

First up, today, is one that will ultimately seem like "not such a huge number." We'll turn to the others in later posts.

The new sale at 309 18th at $3.250M immediately raises the bar for properties in a distinct pocket east of Highland.

Only once has there ever been a full standard-size-lot property sold in the same area for more... just $15K more, and there was a brand new house on the site at the time.

Here we are looking at the narrow set of walkstreets between 16th and 20th east of Highland, a rarefied sub-sub-market.