August Home Sales in Manhattan Beach CA and the South Bay

Manhattan Beach saw yet another impressive month of home sales with 36 homes selling in August at a median price of $2,230,000.  That was way over the prices of August the previous year and was almost a 23% increase in the median home prices.

In August, overall the South Bay trended up from the previous year in terms of median home prices with only a few local cities seeing a decrease in y over year prices.

To see all of the home sales in Manhattan Beach and the cities below visit our recent home sales page.

City Homes
Sold
August
2017 Median
August
2016 Median
Year
over Year % Change%
Carson 52 $470,000 $450,000 4.3%
El Segundo 15 $1,235,000 $1,075,000 14.9%
Gardena 53 $495,000 $472,000 4.9%
Harbor City 20 $521,000 $522,000 -.2%
Hawthorne 45 $583,000 $575,000 1.4%
Hermosa Beach 22 $1,358,000 $1,723,000 21.2%
Lawndale 17 $460,000 $498,000 -7.5%
Lomita 19 $610,000 $619,000 -1.5%
Long Beach 404 $490,000 $463,000 5.9%
Manhattan Beach 36 $2,230,000 $1,815,000 22.9%
Marina Del Rey 37 $940,000 $1,059,000 -11.2%
Palos Verdes Estates 37 $1,545,000 $1,413,000 9.4%
Playa Del Rey 27 $625,000 $623,000 .3%
Rancho Palos Verdes 60 $1,088,000 $1,065,000 2.2%
Redondo Beach 118 $975,000 $969,000 .6%
San Pedro 78 $572,000 $481,000 19%
Torrance 154 $698,000 $645,000 8.2%
Westchester 50 $1,180,000 $1,093,000 8%

3420 The Strand Manhattan Beach – September’s Big Sale

The biggest sale of the month was located on the oceanfront Strand at 3420 The Strand. This was a pretty spectacular home perched fairly high on the dune offering stunning views. The home featured 5 bedrooms, 6 baths and an enormous 5,500 square feet on 3 levels. Built in 2003 and designed by renowned Architects Grant Kirkpatrick and Erik Evens of KAA Design Group, 3420 The Strand enjoys a corner walkstreet lot with great beach and walkstreet frontages.

Originally listed at $17,995,000 and reduced in July to $16,500,000 the home sold for $15,400,000. For information on the current oceanfront Strand homes for sale contact Manhattan Beach realtor Keith Kyle with Vista Sotheby’s International.

417 and 421 Paseo De La Playa – Manhattan Beach Oceanfront Strand Alternative

While $25,000,000 is a list price that we occasionally see in Manhattan Beach, it really takes something special to come on the market in

this rarified air anywhere else.  Something special it is, however.  While the price is staggering for the Hollywood Riviera, there’s no disputing that the home (s) being sold at 417 Paseo De La Playa are pretty incredible.  The lots along Paseo De La Playa are already huge as they extend all the way to the beach but in this case there’s not one, but two separate parcels for sale.  What also makes this compound type property unique is the beach access.  It can take years to go through the California coastal process of trying to get beach access and it’s often denied.  In this case there’s not only beach access but a private volleyball court!  Here’s information from listing agent Chris Adlam of Vista Sotheby’s International.

With over 62,000 square feet of beach-front property on TWO SEPARATE PARCELS, this dramatic compound is almost impossible to duplicate. The main house (417 Paseo de la Playa) is over 10,000 square feet of exquisite living area, and the “companion house” (421 Paseo de la Playa) has over 5,500 square feet. Both homes are located behind gated entrances, both with direct access to the sand, a spectacular pool & spa, a private sand volleyball court, and a large yard. The views span from Palos Verdes through the beach cities, including the entire Santa Monica Bay.

417 Paseo de la Playa, Redondo Beach, CA 90277 (MLS # PV17206016)

(all data current as of 10/23/2017)
Price $25,000,000
Beds 7
Baths 10 baths
Home size 10,200 sq ft
Lot Size 1.44 ac
Days on Market 48
Status Active
With over 62,000 square feet of beach-front property on TWO SEPARATE PARCELS, this dramatic compound is almost impossible to duplicate. The main house (417 Paseo de la Playa) is over 10,000 square feet of exquisite living area, and the “companion house” (421 Paseo de la Playa) has over 5,500 square feet. Both homes are located behind gated entrances, both with direct access to the sand, a spectacular pool & spa, a private sand volleyball court, and a large yard. The views span from Palos Verdes through the beach cities, including the entire Santa Monica Bay. Some of the features include Geothermal heating and cooling, Crestron Home Automation System, Lutron lighting system, movie theater, home gym, wine cellar, elevator, pizza oven, back-up generator, closed circuit cameras, one 4-car garage, one 3-car garage, and much more. This spectacular property offers direct beach access, mesmerizing views, and perhaps most important… privacy. Located just 9 miles from LAX, this is a one of kind, legacy type property, not likely to be replicated in the South Bay.

Property Type(s): Single Family

Last Updated 9/6/2017 Tract
Year Built 2005 Community 128 - Hollywood Riviera
Garage Spaces n/a County Los Angeles
Total Parking n/a

Schools

School District Torrance Unified

Additional Details

Lot 1.44 acre(s) Area 128 - Hollywood Riviera
HOA Dues 0.00 Parking Spaces: 7.00
Pool Description Private,In Ground Utilities Public;
View Description Bay,Bluff,City Lights,Coastline,Ocean,Panoramic,Pier,Pool,Water,White Water Water Public
Waterfront Description Beach Access,Beach Front,Ocean Access,Oc

Features

Air See Remarks
Air Conditioning Yes
Fireplace Yes
Garage Direct Garage Access, Garage - Two Door, Oversized, P
Heat See Remarks
Interior Elevator, High Ceilings (9 Feet+), Home Automation System
LotDescription Back Yard, Bluff Front, Lot Over 40000 Sqft, Yard
Master on Main Yes
Pool Yes
Style Custom Built
View Yes
Waterfront Yes

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listing provided by : Chris Adlam CalBRE:00967574, Vista Sotheby's Int'l Realty

(view all details for MLS #PV17206016)

Can An El Segundo Home Fetch Manhattan Beach Prices?

While we focus primarily on Manhattan Beach we like to bring to the attention of our clients and visitors potential options in neighboring cities.  The real estate market in El Segundo is no exception as the great schools, shorter commute and small town charm make it an appealing option.  The recent listing at 425 West Oak in El Segundo is in some rarified air pushing the elusive $3,000,000 price barrier.  It will be a good home to keep an eye on to see if El Segundo can achieve a price point more common in the neighboring Manhattan Beach luxury real estate market.  The home at 425 West Oak is brand new construction with a modern design and sitting on a well appointed 8000+ square foot lot.  With 5 bedrooms and 4000 feet it is definitely a home to rival new construction in Manhattan and Hermosa Beach.

425 W Oak Avenue, El Segundo, CA 90245 (MLS # SB17204155)

(all data current as of 10/23/2017)
Price $2,849,000
Beds 5
Baths 6 baths
Home size 4,000 sq ft
Lot Size 8,144 sqft
Days on Market 48
Status Active
Tucked into the peaceful West side of El Segundo is this sun-filled two story De Bilt Modern home. As you enter the foyer, notice the oversized gray porcelain tiles which encompass the entire first floor and read as polished concrete. Take a minute to rest a bit before entering into an architectural corridor which frames the view through the glass doors at the back of the house, revealing the very large back yard. The dining room is lit by a modern linear fixture filled with crystals.  Your view is through the sliding glass doors into the courtyard and Crape Myrtle tree. Re-purposed wood from the original house is used throughout. The kitchen features a full suite of Thermador appliances and sleek Modern cabinetry as well as a large waterfall island. Walk through the sliding glass door from the family room onto the back deck which wraps around to the courtyard.  Plenty of room for a swimming pool. The master suite includes a comfortable soaking tub, dual vanity, radiant floor heating, a gorgeous walk-through shower and a generous dressing room. All bedrooms feature vaulted ceilings and en suite bathrooms. Do you dream of living in a neighborhood with top-ranked schools, where you could stroll to the corner store, or downtown for dinner at fun new restaurants? This home offers all that and more.

Property Type(s): Single Family

Last Updated 10/5/2017 Tract
Year Built 2017 Community 141 - El Segundo
Garage Spaces n/a County Los Angeles
Total Parking n/a

Price History

Prior to Sep 6, '17 $3,100,000
Sep 6, '17 - Sep 30, '17 $2,987,000
Sep 30, '17 - Today $2,849,000

Schools

School District El Segundo Unified
Elementary School Richmond
Jr. High School El Segundo
High School El Segundo

Additional Details

Lot 8144 sq ft Area 141 - El Segundo
HOA Dues 0.00 Parking Spaces: 3.00
Pool Description None Stories 2
Utilities Public; View Description Neighborhood
Water Public Zoning ESR1YY

Features

Air Central, Dual, Zoned
Air Conditioning Yes
Appliances Tankless Water Heater
LotDescription Lot 6500-9999
View Yes

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listing provided by : Regina Hoffman CalBRE:01905428, Palm Realty Boutique

(view all details for MLS #SB17204155)

Big Jumps and Big Drops in the South Bay Median Home Prices for July 2017

By Keith Kyle

July was a crazy month throughout the South Bay with double digit year over year percentage changes in most of the cities. There was no real rhyme or reason to it with some cities way up and others way down.  Real estate in Manhattan Beach CA was no different with another double digit jump for the median home prices compared with July of 2016.  Manhattan Beach saw48 homes close escrow in July with a median home price of just under $2,450,000  Click here to see the recent home sales in Manhattan Beach and the South Bay.  July is often a very busy month with many homebuyers trying to purchase before the start of the school year but regardless of the reason a median home price of nearly $2.5M  is a very impressive number.

City Homes Sold July 2017 Median July 2016 Median Year over Year % Change%
Carson 60 $480,000 $445,000 8%
El Segundo 20 $1,055,000 $1,310,000 -19.5%
Gardena 65 $549,000 $454,000 21%
Harbor City 15 $439,000 $550,000 -20.2%
Hawthorne 35 $730,000 $562,000 30%
Hermosa Beach 19 $2,025,000 $1,410,000 43.6%
Lawndale 15 $515,000 $430,000 19.8%
Lomita 21 $598,000 $585,000 2.1%
Long Beach 331 $520,000 $471,500 10.3%
Manhattan Beach 48 $2,449,000 $2,200,000 11.3%
Marina Del Rey 36 $921,000 $974,000 -5.4%
Palos Verdes Estates 28 $1558,000 $1,800,000 -13.4%
Playa Del Rey 20 $613,000 $629,000 -2.5%
Rancho Palos Verdes 63 $1,345,000 $1,160,000 15.9%
Redondo Beach 95 $975,000 $920,000 6%
San Pedro 63 $542,000 $542,000 0%
Torrance 113 $687,000 $617,000 11.4%
Westchester 33 $1,185,000 $1,116,000 6.2%

The Never Ending Demand for Manhattan Beach Real Estate

There are hot real estate markets…..and then there are crazy real estate markets. Working in the highly sought after South Bay of Los Angeles, with iconic beach cities such as Manhattan Beach, Hermosa Beach and Redondo, I have gotten used to a market in which demand is nearly constant. Having said that, however, it seemed long ago that we simply must slow down at some point and it seemed to be heading that direction. July recorded 2 of our beach cities with median prices over $2,000,000 with Hermosa Beach seeing a year over year increase (granted YoY % in a small town doesn’t often mean as much) up $600,000 from the prior July.

Whether it’s the busy summer months, the demand for the highly rated school systems, or some sort of influx of lottery winners, the market lately has simply been crazy. Of the last 5 offers I’ve written we were not even countered being $100K over list price on one (this one had 17 offers of which multiple were cash and appears to have sold for $250K over list price), another client was not in the final running being $100K over (5 offers of which one was all cash at $1.5M), another was the 3rd best at $40K over list (again 4 offers of which one was all cash)…the offer only $10K over asking price…..forget it.  And it goes on and on. It seemed a turn in the market was inevitable a few years back when pricing seemed bound to outpace demand.

We’ll see what this market holds in store and it seems absolutely unsustainable at this pace but that’s the same thing that was said 18 months ago. When a market is this high in demand in an area where coastal homes are extremely limited we can only wonder just how far prices and demand can take us.

June 2017 Home Sales in Manhattan Beach CA

By Keith Kyle

June 2017 was a big month for home sales in Manhattan Beach CA with a fairly huge number of homes selling.  The summer months are always an active market and this year was no different with 57 Manhattan Beach homes closing escrow.  Thats well above the normal number of Manhattan homes selling in a month.  Median home prices were up significantly over June of the previous year with the median home in Manhattan Beach selling at just under $2,467,000 which was a 28% increase from June of the prior year.  Click here to see all of the recent home sales in Manhattan Beach CA.

City Homes Sold June 2017 Median June 2016 Median Year over Year % Change%
Carson 61 $445,000 $450,000 -1.1%
El Segundo 15 $800,000 $1,135,000 -29%
Gardena 70 $461,000 $430,000 7.2%
Harbor City 19 $465,000 $547,000 -15%
Hawthorne 45 $592,000 $624,000 -5.1%
Hermosa Beach 26 $1,718,000 $1,274,500 34.8
Lawndale 12 $535,000 $519,000 3.1%
Lomita 18 $565,000 $555,000 1.8%
Long Beach 419 $523,000 $470,000 11.2%
Manhattan Beach 57 $2,467,000 $1,924,000 28.2%
Marina Del Rey 34 $968,000 $900,000 7.6%
Palos Verdes Estates 46 $1,679,000 $1,533,000 9.5%
Playa Del Rey 34 $683,000 $603,000 13.3%
Rancho Palos Verdes 75 $1,240,000 $1,200,000 3.3%
Redondo Beach 117 $969,000 $945,000 2.5%
San Pedro 82 $510,000 $500,000 1.9%
Torrance 184 $673,000 $635,000 5.9%
Westchester 42 $1,090,000 $1,050,000 3.8%

Manhattan Beach Concerts in the Park

By Keith KylePoliwog Park

If you’re looking for some community summer fun, the concerns in the park series are a great way to spend your summer Sunday evenings.  Starting August 13th and ending on September 3rd the concersts take place at Polliwog Park (see map below) from 5pm to 7pm.  The summer schedule is:

  • August 13th – Shari Puorto Band
  • August 20th – Hollywood U2 (U2 cover band)
  • August 27th – Lynette Skynyrd (Lynard Skynyrd cover band)
  • September 3rd – Colour My World (Chicago cover band)

[googlemaps https://www.google.com/maps/embed?pb=!1m18!1m12!1m3!1d3312.0713245464676!2d-118.38699718478938!3d33.88781688065106!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x80c2b40ccc96b56f%3A0xaeeebefc27fcf920!2sPolliwog+Park!5e0!3m2!1sen!2sus!4v1502757401349&w=600&h=450]

There’s No Better Place to Beat the Heat than Manhattan Beach

The South Bay is often referred to as “the bubble” and that can mean a lot of things…..lifestyle, schools and certainly the weather. There’s no doubt that the weather impacts the home values and a weekend like this one makes it clear why. While we in the bubble hear about this heat wave, with tempatures well into the triple digits, it just couldn’t be nicer at the beach. With tempatures “cooking” us in the mid 80’s and ocean tempatures nearing 70, you just wouldn’t know that it’s hot just a few miles away.  From bikerides on the beach, to surfing and playing volleyball, to shopping and dining in downtown Manhattan Beach, there’s something for everyone.  While in town take a look at the Manhattan Beach open houses if you’re interested in finding out just what it’s like to live in this wonderful coastal community.

Manhattan Beach Home Prices for May 2017

Manhattan Beach saw

City Homes
Sold
May 2017 Median May 2016 Median Year over Year % Change%
Carson 41 $458,000 $453,000 1.2%
El Segundo 8 $880,000 $803,000 9.7%
Gardena 65 $523,000 $425,000 23.1%
Harbor City 14 $503,000 $439,000 14.5%
Hawthorne 46 $610,000 $485,000 25.8%
Hermosa Beach 26 $1,738,000 $1,285,000 35.3%
Lawndale 16 $485,000 $455,000 6.5%
Lomita 18 $653,000 $488,000 33.7%
Long Beach 356 $472,000 $485,000 -2.6%
Manhattan Beach 46 $2,175,000 $1,875,000 16%
Marina Del Rey 32 $933,000 $925,000 0.8%
Palos Verdes Estates 47 $1,650,000 $1,499,000 10.1%
Playa Del Rey 31 $720,000 $560,000 28.6%
Rancho Palos Verdes 51 $1,275,000 $1,060,000 20.3%
Redondo Beach 87 $1,054,000 $950,000 10.9%
San Pedro 63 $620,000 $489,000 26.8%
Torrance 140 $690,000 $593,000 16.4%
Westchester 44 $965,000 $1,130,000 -14.6%