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.

Oceanfront “Strand” Home Inventory Continues to Increase

By Keith Kyle

In a real estate market dominated by huge demand and record low inventory, the luxury homes of the Strand in Manhattan and Hermosa Beach continue to buck the trend. While prices on these priced oceanfront homes continues to skyrocket, buyers for this luxury product are obviously in short supply as the inventory continues to mount.  Contact us for more information about these homes or visit our  Strand homes for sale page for the latest oceanfront listings.

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108 The Strand – Luxury Beach Front Living in Manhattan Beach

Designed by renowned architect Louie Tomaro this spectacular ocean front home combines modern luxury with a 108-the-strand-manhattan-beachcasual elegance fitting well into the Manhattan Beach Strand landscape.  Designed with a modern flair the home is a showcase property for the most discerning buyer.  Featuring 5 bedrooms, 8 bathrooms and over 6500 square feet the home is designed with entertaining in mind and with the beachfront location, you won’t have to look hard for friends to entertain.

We're sorry, but we couldn't find MLS # 16165002 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

11 of 39 Sand Section Homes for Sale are Oceanfront

By Keith KyleManhattan-Beach-Strand

I’ve written in the past about just how rare and valuable oceanfront homes in Manhattan Beach are.  Nothing has changed in that regard as prices have actually reach stratospheric levels and simply put, the number of homes on the beach is limited and always will be.  They may rebuild some of them, but there’s no room to build new homes.

Having said all of that it’s fairly amazing that over a quarter of the homes available in the sand section of Manhattan Beach are located on the oceanfront street known as The Strand.  A few years back it would have been difficult to find a single Strand home for sale.  Now there are 11 and most are staying on the market for quite a while.  The primary reason for this is that most Strand home sellers are asking for fairly unbelievable prices for their homes.  While there’s always a demand for luxury oceanfront homes even the higher end luxury home buyers are priced out of this neighborhood.

 

Bucking the trend there’s no shortage of oceanfront home for sale in Manhattan Beach

By Keith KyleManhattan-Strand-Homes

When it comes to the best in Southern California coastal lifestyle, it doesn’t get any better than life on The Strand in Manhattan Beach.  Manhattan Beach’s beach front address offers some of the most sought after, and valuable properties in California.  Prices along this oceanfront stretch have skyrocketed in the past few years as more luxury and high end buyers have determined that Manhattan Beach is the place to own and live.  Builders, pro athletes, entertainers and other big money players have snapped up everything from luxurious new construction to fixers and tear downs.  That trend may be slowing, however, as the number of homes available continues to increase while the current listings often take longer to sell.

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Record Setting Oceanfront Strand Property Still On the Market

By Keith Kyle1000 The Strand Manhattan Beach

A few months back the beachfront property at 1000 The Strand in Manhattan Beach hit the market for a jaw dropping $28,900,000.  Even in Manhattan Beach, with values seemingly going up by the minute, this was a very aggressive price.  The location is spectacular as the home sits on a corner lot with 50 feet of beach frontage and 100 feet of walkstreet frontage (two of the most desirable and valuable features possible) with spectacular ocean, beach and pier views and located in the heart of the downtown area.  Currently showing as a 4 unit building, the value is in the land and location.  Despite being in a showcase location…..$28,900,000 is a very tall order for lot value.

We're sorry, but we couldn't find MLS # SB15119479 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Oceanfront Home Values Just Keep Rocketing Up on The Manhattan Beach Strand

By Keith KyleManhattan Beach Strand

Just when we thought Strand prices had reached stratospheric levels, a wave of new listings has shown that they’re set to go well higher.  Prices that two years ago would have been unthinkable now appear to be the norm.  Currently there are 4 oceanfront properties on the market in Manhattan Beach and the lowest priced home is listed at $16,000,000, located at 3120 The Strand with the highest price being $28,900,000 at 1000 The Strand.  View details on the current oceanfront homes for sale on The Strand in Manhattan Beach.  The current average list price for these oceanfront homes is over $20,000,000 with an average price per foot of over $5,000.  To put this in perspective the previous high water mark was $15,750,000 for 1904 The Strand which sold back in November 2014.  There have only been 2 other on market sales over $12.0M.

Manhattan_Beach_Strand_Homes_for_Sale

 

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Only 25 Homes for Sale in All of Manhattan Beach

While the market is always slow over the holidays and homeowners often take their homes off of the market for a few weeks, the inventory in 1740 2ndManhattan Beach has reached a new low.  As of January 5th there are only 28 homes for sale in all of Manhattan Beach.

Compare that with a high of 189 homes for sale in May of 2010 and you can see just how drastic the market changes have been.  Even the summer months (with traditionally the highest inventory as it’s a peak buying season) had 68 homes for sale during the months of July and August.

So what does this mean?…..well that depends on which side of the market you’re on

For sellers the demand is incredible.  Prices are at peak levels, sellers are receiving multiple offers on homes priced at market value, buyers are willing to overlook the usual challenges such as busy streets, homes needing updates, and homes with ideal locations or potential are having some amazing bidding wars.  See our recent post on the walkstreet, half lot home that sold for almost $600K over list price.  If homeowners have given any thought to selling their home, regardless of area, condition and location, it’s an ideal time to sell.

For buyers the market has been incredibly challenging with some buyers simply taking a break from the madness. Builders are buying any home in Manhattan Beach that hasn’t been built in the past 25 years at big numbers, buyers are lined up in certain neighborhoods waiting for the next listing to hit the market (if the home even hits the market as pocket listings are becoming more common in this market) and entry level homes no longer exist.

In this market buyers have to be aggressive if they really want to own a home in Manhattan and need to be even more aggressive for premier properties.  Knowing about homes the minute they hit the market, or even before is critical and understanding pricing can make all the difference.

Contact us if you are an eager seller, or frustrated buyer, as we have a deep understanding of the market and can certainly help.

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.

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Manhattan Beach School Boundary Map

One of the most common reasons people want to live in Manhattan Beach is the quality of the schools.  One of the most frequent questions is what elementary school will a child attend depending on where they buy a home in Manhattan Beach.  Manhattan Beach Unified School District has 5 elementary schools, one middle school and one high school (Mira Costa).  See the map below to get a better sense of where the elementary schools are located and the boundaries of each.

Manhattan-Beach-Schools-Map

In general the hill section and south sand section neighborhoods attend Robinson Elementary, the north sand section and parts of the tree section attend Grand View, the eastern half of the tree section attends Pacific, the Manhattan Heights and Liberty Village areas (east of Sepulveda and north of MB Blvd) attend Meadows and the Mira Costa area of East Manhattan attend Pennekamp.  All are fantastic schools with incredible test scores and parent participation is second to none.