What's New in Manhattan Beach?

By Dave Fratello | May 11th, 2016

527 14th Street Manhattan Beach CANew construction has been breaking out all over in Manhattan Beach for a few solid years running.

Perhaps half or more of the new homes you see being built are custom "owner/user" builds – people building for themselves. But here is a look at all of the new construction to come to market recently. (Pictured here is 527 14th, asking $5.999M.)

We'll start with a look at the 22 active listings. Detailed descriptions and comments below.

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Manhattan Beach New Construction – Active Listings


That's really quite a few builders betting on the upside of Manhattan Beach over the past few years.

You'll note right away that there are 4 new homes listed in the American Martyrs area – or 5 if you want to extend the boundaries over the John St. – the priciest part of the Tree Section. 

505 14th Street Manhattan Beach CAThe one with the greatest time on market (only 40 DOM) is 505 14th (6br/6ba, 3850 sqft.), and it recently took a big cut of 11% and $550K to try to draw interest that they must not yet have received.

For what it's worth, the new price of $4.249M is closer to what we were first told to expect for a pricetag on this one prior to completion.

OK, so they shot a little higher as they came out of the blocks, and it didn't work. Now they're trying to be compelling.

528 15th Street Manhattan Beach CA

Meantime, the very large and ambitious 528 15th (6br/7ba, 6025 sqft.) is in its earliest days, strutting its stuff and aiming for a new record of sorts, asking $6.950M.

There truly has never been a sale that high on the public market in the Tree Section. You did have an extremely recent sale of a 2-lot, 2-house "compound" at 3305 Pine for $6.750M. (See "Tree Section Compound is Top Sale Again.")

You can look to the next-door neighbor for this near home at 524 15th, new construction that sold for $5.700M pre-completion in late 2014. You do know what's happened in the market since.

516 4th Street Manhattan Beach CA

In the Sand Section, in the South End, there's 516 4th (5br/6ba, 4325 sqft.) asking $5.250M, new to market.

That nice, bright home undercuts the very nearby new construction at Ingleside at 441 3rd (5br/5ba, 4320 sqft.), which launched at $5.800M and has cut recently to $5.595M. (Also note, photos for 516 4th are now uploaded – they weren't online yet in our weekend open-house post.)

There's no way we can cover all 22 listings. But let's take a look at what has recently sold (made deals, that is).

Here are the new homes to most recently go into escrow:

Pending Sales of New Construction


Just this week, we saw two of those go into escrow. 

2409 North Poinsettia Avenue Manhattan Beach CA2409 Poinsettia (4br/5ba, 3550 sqft.) is Tree Section new construction that had just hit 4 months on market.

It was one of the first new homes to make a big adjustment in price early this Spring as inventory suddenly ballooned. The cut from $3.499M to $3.199M was meant to make it stand out and draw immediate action. In time, it got action.

Also worth noting: 221 Homer (4br/4ba, 2500 sqft.), which has been asking $4.850M for most of its 10 weeks on market. 

The custom, ocean-view home is right on the border with Hermosa in the quiet South End. It's obviously smaller than a lot of the other new homes, more in line with townhomes in the area, but there's always more value to a single-family. 221 Homer had recently been listed for rent, also, at $13,000/mo., in addition to being for sale. They have a buyer now.

Not listed here: A new-construction townhome on Manhattan Ave. south of the pier that is said to have garnered $5.000M. More on that as we get clear to report the sale.

Finally, we're taking a look at all the closed sales of new homes over the past year. These are for all areas of Manhattan Beach, with the most recent closing shown first, dating back to June 2015.

Recent Closed Sales of New Construction


We noted that among some of those 32 "new construction" homes sold – and mixed in above with active listings and pending sales – are recent remodels rather than true, from-the-ground-up new construction.

We'll check in on price trends for new homes in an upcoming post.

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