2016 Manhattan Beach Sand Section Real Estate Recap

Ahh the sand section of Manhattan Beach.  Ocean views, walking distance to the beach and some great housing options including the Strand and family friendly walkstreets.

The sand section had yet another incredible year with values rising rapidly, builders buying everything older than 2000 and demand continual for new properties.  2016 saw impressive numbers in this exclusive part of Manhattan Beach.

 

Type Address Price $ Per Foot Bed/Bath Sq Feet Year Day on MKT
CONDO/A 330 41ST ST #F $1,180,000 $959 2/3,0,0,0 1230 1986 46/46
TWNHS/A 502 Rosecrans AV #B $1,210,000 $722 2/2,0,1,0 1677/A 2000/ASR 125/125
SFR/A 226 44TH ST $1,300,000 $1,729 1/0,1,0,0 752/SEE 1948 34/34
CONDO/A 330 41st ST #E $1,315,000 $1,069 2/1,1,1,0 1230/A 1986/ASR 71/71
SFR/D 222 38th PL $1,325,000 $1,202 2/1,1,0,0 1102/A 1927/ASR 19/147
SFR/D 216 Moonstone ST $1,400,000 $2,056 1/1,0,0,0 681/A 1932/ASR 73/73
SFR/D 131 Kelp ST $1,475,000 $1,053 2/2,0,0,0 1401/S 1929/ASR 175/194
SFR/D 228 28th PL $1,585,000 $1,019 2/1,1,0,0 1556/A 1937/ASR 21/21
SFR/D 205 40th ST $1,600,000 $1,973 2/1,0,0,0 811/A 1929/ASR 14/14
SFR/D 444 28th ST $1,600,000 $2,111 2/1,0,0,0 758/A 1927/ASR 06/06/17
SFR/A 123 El Porto ST $1,600,000 $1,709 2/2,0,0,0 936/A 1927/ASR 0/129
SFR/D 3203 Vista DR $1,610,000 $1,541 2/1,1,0,0 1045/AP 1932/ASR 36/36
SFR/D 537 24th ST $1,650,000 $1,043 3/2,0,0,0 1582/A 1953/ASR 33/33
SFR/A 120 42nd ST $1,725,000 $1,106 2/0,3,0,0 1560/A 1960/ASR 47/47
SFR/D 424 1st ST $1,790,000 $1,418 3/2,0,0,0 1262/T 1953/ASR 102/102
SFR/D 317 8th PL $1,800,000 $1,333 3/2,0,0,0 1350/S 1937/ASR 75/75
SFR/D 200 Moonstone $1,830,000 $1,262 3/3,0,0,0 1450/A 1958/ASR 23/23
TWNHS/A 3602 Manhattan AV $1,850,000 $1,151 3/2,1,1,0 1607/A 1989/ASR 334/334
SFR/D 316 31st ST $1,850,000 $1,395 2/2,0,1,0 1326/A 1962/PUB 16/16
SFR/D 532 21st ST $1,855,000 $1,391 2/1,0,1,0 1334/A 1941/ASR 108/108
SFR/D 410 31st ST $1,950,000 $1,226 3/2,0,0,0 1590/A 1969/ASR 88/88
TWNHS/A 433 Marine AV #B $1,950,000 $1,075 3/3,0,1,0 1814/A 1990/ASR 46/46
SFR/D 817 N Valley DR $1,982,500 $1,322 3/2,0,0,0 1500/SEE 2012/SEE 23/23
TWNHS/A 437 Marine AV #B $1,995,000 $1,100 3/3,0,1,0 1814/A 1990/ASR 39/39
SFR/D 520 24th ST $2,000,000 $1,285 3/2,0,0,0 1556/A 1948/ASR 58/58
SFR/D 334 11th ST $2,000,000 $1,471 3/3,0,0,0 1360/A 1963/ASR 01/01/17
SFR/D 129 15th PL $2,050,000 $1,708 2/1,1,0,0 1200/A 1930/ASR 07/07/17
SFR/D 524 23rd ST $2,100,000 $1,246 4/1,2,0,0 1686/A 1954/ASR 63/63
TWNHS/D 3105 Vista DR $2,100,000 $873 3/2,1,1,0 2406/A 2003/ASR 330/330
SFR/D 464 29th ST $2,150,000 $1,433 3/2,0,0,0 1500/A 1955/ASR 137/137
SFR/D 4021 Ocean DR $2,200,000 $3,873 1/1,0,0,0 568/A 1924/ASR 02/02/17
SFR/D 441 23rd ST $2,200,000 $879 3/3,0,0,0 2504/A 1961/APP 108/108
SFR/D 4109 Crest DR $2,200,000 $1,128 3/3,0,1,0 1950/A 2001/ASR 08/08/17
SFR/D 329 1st Street $2,245,000 $1,083 4/2,0,1,0 2072/A 1970/ASR 44/44
DPLX/A 201 Shell ST $2,250,000 $1,398 4/4,0,0,0 1610/A 1990/ASR 09/09/17
SFR/D 521 24TH ST $2,250,000 $1,554 4/2,0,0,0 1448/A 1947/ASR 16/16
TWNHS/D 200 38th ST $2,250,000 $1,249 3/3,0,1,0 1802/T 2006/ASR 08/01/97
TWNHS/A 2113 Grandview AV $2,255,000 $1,098 3/4,0,0,0 2054/AP 2004/APP 17/17
TWNHS/A 316 13th $2,309,000 $1,100 3/3,0,1,0 2100/A 1999/ASR 70/70
TWNHS/D 425 Marine AV $2,350,000 $1,293 3/3,0,1,0 1817/B 2008/BLD 100/100
TWNHS/D 512 Manhattan AV #B $2,400,000 $1,599 2/3,0,0,0 1501/A 1979/ASR 07/01/29
TWNHS/D 2315 Grandview AV $2,450,000 $1,119 4/3,0,1,0 2190/P 2007/BLD 113/113
TWNHS/A 2803 Alma AV $2,462,500 $1,231 3/3,0,1,0 2000/A 2005/ASR 50/50
SFR/D 229 9th ST $2,500,000 $1,676 2/2,0,0,0 1492/A 1979/ASR 57/57
TWNHS/A 2909 Highland AV $2,530,000 $1,246 3/3,0,1,0 2030/A 2006/ASR 61/61
TWNHS/D 2416 Highland AV $2,599,000 $1,112 3/3,0,1,0 2337/B 2002/ASR 43/43
SFR/D 2821 Crest DR $2,600,000 $1,973 2/2,0,0,0 1318/A 1937/ASR 163/163
SFR/D 444 27th ST $2,610,000 $1,026 3/2,0,1,0 2544/A 2004/APP 07/07/17
TWNHS/A 216 31st ST $2,625,000 $1,435 3/2,1,1,0 1829/A 1991/ASR 81/81
SFR/D 326 2nd ST $2,650,000 $2,454 3/1,1,1,0 1080/A 1941/ASR 61/61
SFR/D 443 23rd PL $2,700,000 $1,134 4/2,1,0,0 2381/A 1933/ASR 01/01/17
SFR/D 2804 Highland AV $2,710,500 $1,130 3/3,0,1,0 2398/A 2003/ASR 29/29
SFR/D 500 4th ST $2,761,500 $2,185 4/2,0,0,0 1264/A 1947/ASR 36/36
TWNHS/A 3603 Manhattan AV $2,800,000 $1,464 3/3,0,1,0 1912/A 1996/ASR 33/33
SFR/D 4101 Crest DR $2,800,000 $1,050 3/3,0,1,0 2667/B 2016/BLD 39/39
CONDO/A 1318 The Strand $3,000,000 $2,179 2/2,0,0,0 1377/AP 1963/APP 07/07/17
TWNHS/A 429 Marine PL $3,065,000 $1,131 4/2,2,1,0 2710/B 2016/BLD 136/136
SFR/D 405 5th $3,150,000 $1,235 4/1,1,1,0 2550/A 1974/ASR 01/01/17
SFR/D 541 4TH ST $3,245,000 $902 4/3,0,1,0 3596 1990 39/111
SFR/D 509 5th ST $3,280,000 $1,333 3/3,0,0,0 2460/SEE 1998/ASR 201/201
SFR/D 435 10th ST $3,350,000 $1,657 4/2,0,1,0 2022/A 1952/ASR 134/134
TWNHS/A 2215 Bayview DR $3,425,000 $1,302 4/3,1,0,0 2630/A 2007/ASR 306/306
SFR/D 336 6th ST $3,487,500 $2,130 3/3,0,0,0 1637/A 1940/ASR 06/06/17
SFR/D 3300 Alma AV $3,525,000 $1,009 4/3,0,1,0 3492/B 2002/ASR 13/13
SFR/A 316 17th ST $3,525,000 $1,978 5/3,0,0,0 1782/A 1951/ASR 40/40
SFR/D 216 9th PL $3,599,000 $1,789 3/1,2,1,0 2012/D 2016/BLD 215/215
SFR/D 428 7th ST $3,650,000 $1,314 3/3,0,1,0 2778/A 1981/ASR 61/61
SFR/D 304 18th ST $3,670,000 $1,393 5/3,0,0,0 2634/AP 1955/ASR 09/09/17
SFR/D 404 4th ST $3,700,000 $3,642 3/1,0,0,0 1016/A 1950/ASR 03/03/17
TWNHS/A 428 23rd ST $3,745,000 $1,369 4/2,2,1,0 2735/B 2016/BLD 36/36
TWNHS/A 814 Highland $3,800,000 $1,516 4/3,0,1,0 2507/B 2016/ASR 248/248
SFR/D 1208 Manhattan AV $3,988,000 $1,418 3/2,0,1,0 2813/B 1987/BLD 08/08/17
SFR/D 404 20TH ST $3,995,000 $999 4/4,0,1,0 4000 2001 41/138
SFR/D 2807 Manhattan AV $4,000,000 $1,269 6/4,0,0,0 3153/A 1968/ASR 13/13
SFR/D 617 Manhattan AV $4,250,000 $2,160 3/1,1,1,0 1968/A 1989/ASR 66/66
SFR/D 3220 Alma AV $4,275,000 $1,272 4/4,0,1,0 3362/B 2015/BLD 135/135
SFR/D 221 Homer ST $4,467,532 $1,784 4/1,2,1,0 2504/B 2016/BLD 43/99
SFR/D 440 6th ST $4,600,000 $1,099 6/5,0,1,0 4186/B 2009/ASR 35/35
SFR/A 212 16th ST $4,625,000 $2,594 5/4,0,0,0 1783/A 1939/ASR 107/107
TWNHS/A 611 Bayview DR $4,650,000 $1,709 3/1,3,0,0 2721/AP 2013/ASR 25/25
SFR/D 216 16th ST $4,960,000 $1,424 5/6,0,0,0 3482/A 1990/ASR 83/174
SFR/D 121 21st ST $5,036,700 $1,543 4/4,0,0,0 3264/A 1981/EST 15/15
SFR/D 2308 Manhattan AV $5,150,000 $1,342 8/8,0,0,0 3839/A 1966/ASR 13/13
SFR/D 516 4th ST $5,250,000 $1,216 5/5,0,1,0 4317/B 2016/BLD 85/85
SFR/D 441 3rd ST $5,350,000 $1,239 5/4,0,1,0 4319/B 2016/BLD 67/292
SFR/D 2908 Manhattan AV $6,000,000 $1,791 3/3,0,1,0 3350/B 2012/ASR 0/110
SFR/D 232 6th ST $7,385,000 $1,710 5/5,0,2,0 4319/B 2016/BLD 168/168
SFR/D 200 16th St. $9,000,000 $2,169 4/4,0,1,0 4150/B 2015/BLD 118/118
SFR/D 125 2nd ST $9,241,000 $2,170 4/4,0,1,0 4258/E 2014/SLR 57/57

Downtown Manhattan – One of the Many (Many) Things I Love About Manhattan Beach

By Keith KyleEvening in Downtown Manhattan Beach

Manhattan Beach is an idyllic place to live.  From near perfect weather, to spectacular beaches….from nationally ranked Manhattan Beach Unified schools to a fantastic sense of community….Manhattan Beach has it all.  These features also explain why Manhattan Beach real estate is so valuable and highly sought after.

One of the most recognizable and integral part to that small town charm and sense of community is the downtown area.  Lined with wonderful restaurants, chic shops, and a few “old school” beach bars, it’s a great place to be whether day or night.

Downtown Manhattan BeachThe downtown area is focused on the few blocks surrounding Manhattan Beach Blvd and as the primary street faces west and sits on a hill (technically a sand dune) it offers incredible views of the pier and ocean and enjoys a great ocean breeze that cools on even the hottest days.  Although it can get pretty overcrowded during the summer, as Manhattan is certainly a tourist destination, there is still enough room as most of the visitors eventually end up on the beautiful beaches just to the west of the downtown area.

Other parts of town such as El Porto (now known as North Manhattan) also offer a nice beach town feel, the downtown area certainly is the heart and soul of this charming beach community.

Downtown Manhattan Beach

 

Sand Section Home Values Skyrocket – 2014 vs 2013

By Keith KyleManhattan-Beach-Strand

2014 saw huge gains in home values throughout Manhattan Beach but the sand section, the area closest to the ocean, surpassed previous peak values as demand skyrocketed.  The median home price in 2014 for the sand section was $2,277,500 with an average sales price of a whopping $3,111,263.  In all 112 homes sold in this highly sought after coastal community.

While 2013 was a strong year it contrasted considerably with 2014 with a median home price of $1,930,000 and an average sales price of $2,438,000.  The average sales price in the sand section increased year over year by and astounding 27.6%  in one year.

The sand section is the part of Manhattan Beach located closest to the beach and encompasses the oceanfront homes on “The Strand”.

Click here to see the homes sold in Manhattan Beach by month.

Beachfront Home Values Skyrocketing In Manhattan and Hermosa Beach

Manhattan-Beach-Strand 2014-11-02 17.03.53 2014-11-02 16.59.01 Beachfront homes in Hermosa Beach on The Strand Manhattan Beach Strand Sunset on The Strand

Real estate in Manhattan Beach and Hermosa Beach is always valuable as there is a finite number of homes and lots and the demand for these coastal communities is always high.  The most sought after properties are on The Strand, offering luxury buyers endless beach and ocean views and the best of coastal living.  There aren’t many places where you can walk out your back door and be on the sand.  Prices have always been relatively high for these limited, and very rare pieces of property but values have skyrocketed in the past 18 months.  Whereas there were occasional deals to be had not long ago, now even lot value sales are well into 7 figures.

View the current beachfront homes for sale on The Strand

Listings, pending escrows and homes sales in the past 5 months.

The_Strand_Homes

 

5 Oceanfront Homes for Sale in Manhattan Beach

By Keith KyleManhattan Beach Strand

It’s rare to see more than one oceanfront home on the market in Manhattan Beach at the same time, but as of August 15th there are 5 homes for sale. They range from a townhome at 4404 The Strand priced at just under $6.0M to 2 different homes (one at 104 The Strand the other at 1140 The Strand) that are both priced just under $14.0M. Believe it or not the home at 104 is actually a tear down. Ironically in our eyes, this listing states “Price includes plans for a mega multi million dollar contemporary estate.” If you ask us…..$13.9M sounds like it’s already in the multi million range.

The latest offering is located at 516 The Strand, which is a fairly prime south sand section location. It features 4 bedrooms and 4 baths and is priced at $10,000,000. That certainly seems above value to us, but as these are such premium locations it only take one buyer to fall in love. As most oceanfront purchases these days seem to be all cash, appraisal value rarely comes into play.

Current Beachfront Homes for Sale on The Strand

 

California’s Most Popular Town for Luxury Homes: Video – Bloomberg

California’s Most Popular Town for Luxury Homes: Video – Bloomberg.  Bloomberg gives a great representation of Manhattan Beach and the current real estate environment in this luxury coastal community near Los Angeles.

See the current homes for sale in Manhattan Beach as well as recent home sales.

What’s shocking to some is commonplace in Manhattan Beach real estate

By Keith KyleManhattan Beach Strand

One of the more challenging aspects of selling homes in the luxury community of Manhattan Beach, is the “sticker shock” many out of town buyers have when we first start searching for a home.  As one of the more expensive markets in the country, buyers are often unprepared for the type, size or condition of the home that they can get for their money.  Buyers inevitably compare the home they are selling to the home they are buying and without taking location into consideration, they find that they can often purchase something not even similar to what they’re selling.  The greatest surprise comes to buyers from states such as Texas in which they owned a 5000 foot mansion on acres of land for example and the $1.5M that they sold it for translates to  a 3 bedroom, 2200 foot townhome in Manhattan Beach with a lot measured in feet and not acres.

The reason for all of this, of course, is that it’s all about location….and the demand for that location.  There is such demand for homes in Manhattan Beach which offers great neighborhoods, ocean views, award winning schools, almost perfect weather, proximity to a world class destination beach, and near enough but far enough from the hustle and bustle of Los Angeles, that prices just continue to rise at an often incredible pace.  As there is no additional land to build on, even “fixers” or tear downs sell above market value as builders are eager to cash in on the demand for new construction luxury homes.

So what can an out of state buyer do?  Research the recent home sales in Manhattan Beach and current listings.  Getting comfortable with the fact that, although the prices are dramatically higher than other cities and states, these are the prices and the costs to live in such a high demand area.  Southern California has always been one of the most sought after housing destinations in the country and nowhere is that demand greater than life on the coast in Manhattan Beach.  Buyers that research values, prices and trends,  may still have that initial shock but just having an understanding that these are not “inflated” prices but just the values of the area and down the road when it’s time to sell, they’ll be on the other side of this incredibly strong market.

The chart below represents the median sales prices in Manhattan Beach for the past 2 years with a median price edging ever closer to the $2.0M mark.

Manhattan Beach Sand Section Micro Market Update

By Keith KyleManhattan Beach sand section homes

The sand section of Manhattan Beach is the epitome of luxury coastal living with spectacular beachfront “Strand” homes, walkstreet homes with stunning views and all within walking distance from the beach.  Here’s a quick recap of what’s going on in the Manhattan Beach sand section real estate market:

  • Active homes for sale – 14
  • Lowest list price – $1,325,000  –   420 29th Place
  • Highest list price – $9,999,999  –  4108 The Strand
  • Average list price – $3,379,786
  • Average price per square foot   –  $1,219.87
  • Average Days on Market   –  63
  • In escrow – 14
  • Total homes sold in 2014 YTD – 43
  • Average sales price – $3,057,174
  • Average price per square foot – $1,288.95

Why is El Porto More Affordable than the rest of the Sand Section?

By Keith Kyle Sand-Section

The northernmost tip of the Manhattan Beach sand section was always known as El Porto and has always been the most affordable way to live in this ultra luxury section of Manhattan Beach.  The sand section is generally the area just west of the greenbelt recreation path in between the streets of Valley and Ardmore.   Other than some of the true luxury estates in the Hill Section (see best of all worlds – real estate in the hill section), the sand section is the most highly sought after land in this luxury coastal community.  With townhomes now reaching and exceeding $2.0M, newer walkstreet homes topping $5.0M finding a more affordable option generally means looking east.

The best option for those feeling priced out of the neighborhood is the area of El Porto which is the northernmost section.  In an attempt to shed the El Porto moniker the area has been renamed North Manhattan but to most in the area it’s still known as El Porto.

So why is El Porto so much more affordable?

As with everything in real estate, lower prices involve tradeoffs and compromises.  In the case of El Porto it generally comes down to lot sizes and all of the differences those smaller lots create.  While many lots in the sand section are 30×90 most El Porto lots were split long ago and are “half lots” at 30×45 (with some variations)  This doesn’t just mean twice as many homes, but impacts the layout and feel as well.   One of the appeals to the sand section are the pedestrian only walkstreets that most homes face.  The back of the homes are on, what feel to be, smaller alleys with all of the garages, but homes are all built with the primary open areas facing the the walkstreets and the ocean.  El Porto doesn’t have walkstreets so all of the homes face the streets or alleys so the front of all homes consists of garages (or in some really original bungalows simply a space for one car).  In addition smaller lots generally limit the square footage that a new home can offer.  The good news for buyers is that the limited size of new construction homes greatly limits the appeal to builders who focus on larger lots.  This limits the competition and helps keep prices from skyrocketing during building booms.

Pros of El Porto:

  • Much more affordable prices
  • Proximity to the beach
  • Many homes feature great views due to the steepness of the streets
  • Ideal for commuters as it can take 15 minutes off of a drive compared with other areas

Cons of El Porto:

  • Smaller homes with little to no outdoor areas (roofdecks are not allowed in Manhattan Beach)
  • Very narrow streets (numbered streets are generally wider than named streets but all are narrow)
  • Homes face garages so curb appeal less than other sand section areas.
  • Smaller lots means more homes and has a more congested feel
  • Very little parking.  At best homes have 2 car garage with many older homes having no garages