You Actually Can Sell Quickly Today

By Dave Fratello | July 28th, 2016

If you're going to try to sell during the quieter Summer months, you had better be ready to sell.

Show that you mean it.

1825 Walnut Avenue Manhattan Beach CAOf course, we mean show it with price.

Almost half of the most recent sales (new escrows) in town came within a week of their actual marketing dates. (That includes this Tree Section listing at 1825 Walnut, asking $1.379M.) 

At a time of burgeoning inventory and a modest sales pace, that's remarkable. Feels like the old days... for those sellers.

Not at all incidentally, 4 of the 5 sales we will point to below were priced under $1.600M. That's considered to be the more "affordable," lower tier of the Manhattan Beach real estate market. For all of 2016, out of 214 closed sales to date in MB, just 62 (29%) sold at $1.6M or below.

Here are the homes that made their deals right away:

1825 Walnut Avenue Manhattan Beach CA1825 Walnut (3br/2ba, 1400 sqft.) is a mostly original Tree Section house in a good location east of Pacific school. They came out asking $1.379M, a figure that instantly struck us as very low. Not so long ago, Dave sold two homes fairly nearby along Poinsettia: 1600 N. Poinsettia (2br/1ba, 920 sqft., $1.370M) and 1500 N. Poinsettia (3br/2ba, 1230 sqft., $1.399M) both in Spring 2014.

Local land values rose in the Tree Section after those sales. You saw some lots comparable to 1825 Walnut come in at $1.600-$1.700M, with some even publicly reporting $1.8-ish prices. One was nearby 1801 Walnut, sold off-market in June 2015 for $1.700M, which is now site of a spec home getting ready for market.

Now, here, under $1.400M, was a well-located plot.

The market response: More than 10 offers, including cash, including developers. (Builders are still in the game? That's news.)

Watch where this one ends up.

1740 Curtis Avenue Manhattan Beach CA1740 Curtis (5br/5ba, 3250 sqft.) is the only new, quick sale over $1.6M that we're mentioning here.

The sizable house, on a full 7500 sqft. lot with pool, simply looked like the most compelling East Manhattan family home for the money: $1.899M at the launch last week.

After a little pre-marketing, it sold with just 6 days of MLS time.

1247 11th Street Manhattan Beach CA1247 11th (3br/2ba, 1700 sqft.) is another East MB single-family home, compelling for the price point.

There really has not been much inventory of comparable size & ready-to-go, move-in condition recently. We see 1401 Chestnut (3br/2ba, 1560 sqft., $1.715M) and 1142 21st (3br/2ba, 1760 sqft., $1.780M) as being reasonably similar – both sporting super updates.

1247 11th is very nice and emerged at $1.549M, well below those comps to reflect location and style differences.

A little pre-marketing did the trick. Before hitting the MLS, they had interest, and by the time the Friday brokers' open came around, they had already accepted one of the multiple offers received. 

444 28th Street Manhattan Beach CAMeantime, a very tiny (2br/1ba, 750 sqft.) Sand Section "bungalow" at 444 28th St., up on the North End's plateau, has made a quick deal.

The little Spanish on a 1550 sqft. lot dates back to 1927, which is actually not a good omen for its future, but that's up to the new owners.

The list price of $1.549M was compelling and got immediate interest.

Speaking of tiny...

3119 N Valley Drive Manhattan Beach CAAlong Valley drive up near the exit from town (or the entrance!), 3119 N. Valley is a small (2br/1ba, 850 sqft.) cottage dating to the 1950s, but perhaps feeling even older in vintage.

Ah, but the true feel of the place is much more now.

The little home has been giving a loving, complete remodel, not only featuring a new kitchen and bathroom (that's one bathroom), but a darling sense of modern beach style that somehow unites the old with the new. (Click the address and browse the photos.)

If this size house is all you need, the $1.179M list price was low enough to scream, "come and get it!"

And that's what people did.

Want to sell in Summer? Price it right – compelling, "low" and right.

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