When $200K Over Seems Reasonable

By Dave Fratello | March 30th, 2022

2104 Harkness Street Manhattan Beach CAThis week's closed sale at 2104 Harkness almost looks sane.

It's a 1990 build, upgraded from that point, and profiles as a typical suburban family home: 4br/3ba, 3200 sqft.

It's a bit unusual for the Liberty Village district east of Redondo, where in many cases the original postwar cottages are visible under years of facelifts and additions. This was a flat-out new build at the time.

The listing came out at a time when it was all by itself and would command all the attention.

But they seemed to price it just a bit conservatively. The three most recent sales had been:

2004 Manzanita (5br/4ba, 3062 sqft., 1997 build): $2.575M in Dec. 2020

1805 Lynngrove (5br/4ba, 3430 sqft., 1998 build): $2.580M in March 2021

2108 Harkness (5br/4ba, 3430 sqft., 1998 build): $2.610M in April 2021

That last one is literally the next-door neighbor. However, April 2021 was not very recent.

The market had risen since these rare Liberty Village sales of 3000+ sqft. homes. That was clear.

They priced 2104 Harkness at $2.695M.

That was a bump over all the similar homes within the neighborhood.

At the open house, the listing team displayed flyers with other recent sales from different parts of Manhattan Beach, including some near $2.9M and $3.0M in the Mira Costa district. But that was just for a hint of the market.

Given how buyers were bursting at the seams to get into some kind of family-size home like this, they could have all gone batty for Harkness.

As noted in our headline, the sale was "only" $200K higher at $2.895M.

It's still the highest of any recent sales, and even higher, percentage-wise, by the square foot.

But it's also just a bit shy of much newer homes that have sold in the past year in the Liberty Village area.

For the moment, seeing that a 1990 build in Liberty Village did not exceed $3M almost seems level-headed for the market we've been in.

And next?

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