Sure, the Sand Section is sexy.
People want to come here to live at the beach.
So, if any one area of town is going to see the most sales of any, it's going to be the Sand, right?
Sometimes.
Though the beach area runs the full 2 miles of the city north to south, it doesn't quite get to the point of…
Sure, the Sand Section is sexy.
People want to come here to live at the beach.
So, if any one area of town is going to see the most sales of any, it's going to be the Sand, right?
Sometimes.
Though the beach area runs the full 2 miles of the city north to south, it doesn't quite get to the point of representing half the sales activity in town.
In fact, as our new custom chart here shows, the Sand Section has stiff competition from East Manhattan for greatest share of homes sold.
We're looking here at active-market sales activity - a snapshot of new escrows opened in the three months of January-March going back to 2015. The data come from our MB Confidential market updates.
Last year, in Q1, 40% of the homes going into escrow were in the Sand Section. That's the highest Q1 total for any section we've seen over the past 7 years, in our tracking of market action.
This year, it was East Manhattan with the largest share of new sales, at 38%. The Sand lagged down to 31%. (Womp, womp.)
The Tree Section often hangs around near the top tier, but has only claimed one title in Q1, back in 2019, at 34% of new escrows.
The Hill Section, well, it's never competitive by this metric. It's the smallest district by far, and has the highest median price.
Hey, Hilly, you're going to have to be content with the highest median price for a bit.
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We got to wondering about these numbers for a reason.
We've been busy at the office. You know how sometimes it's hard to see past your nose when you're busy?
We wanted some perspective. Hence the research and the post.
In the past several days, our Edge office has put into escrow three of our listings:
1900 Lynngrove (East Manhattan, 5br/6ba, 3525 sqft., asking $3.299M, 7 DOM),
417 20th Place (pictured) (3br/4ba, 2155 sqft., asking $2.379M, 2 DOM) and, last night,
417 27th (3br/3ba, 1688 sqft., asking $2.679M).
(Did you miss our 20th Place listing? That one happened fast.)
So that's a two-to-one ratio of Sand to East MB, but a very small sample (!). The East Manhattan sale occurred within Q1, while these new Sand Section sales contribute to Q2 data (go, go, Sand Section!).
We also have other sales working in other parts of MB and the South Bay with buyer clients, so we've got fingers in a few different pies, putting together some data for new pie charts later down the road...
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
