December 2016 Home Sales and Home Prices in Manhattan Beach

By Keith Kyle

December was a pretty typical month in Manhattan Beach real estate with 38 home sales at a median price of $1,863,000.  December traditionally is a much slower month but with the continued demand for Manhattan Beach homes, there doesn’t seem to be such a thing as a slow month.  Click here to see the sold homes in Manhattan Beach for December.  For the current homes for sale visit our active listings page.

City Homes
Sold
December
2016 Median
December
2015 Median
Year
over Year % Change%
Carson 54 $450,000 $420,000 7%
El Segundo 14 $816,000 $1,171,000 -30.3%
Gardena 44 $504,000 $413,000 22.1%
Harbor City 9 $523,000 $404,000 29.5%
Hawthorne 37 $575,000 $520,000 10.6%
Hermosa Beach 17 $1,380,000 $1,625,000 -15.1%
Lawndale 8 $393,000 $521,000 -24.6%
Lomita 6 $473,000 $535,000 -11.6%
Long Beach 298 $490,000 $435,000 12.6%
Manhattan Beach 38 $1,863,000 $1,831,000 1.7%
Marina Del Rey 21 $955,000 $945,000 1.1%
Palos Verdes Estates 25 $1,550,000 $1,675,000 -7.5%
Playa Del Rey 20 $658,000 $612,000 7.5%
Rancho Palos Verdes 47 $1,088,000 $945,000 15.1%
Redondo Beach 75 $900,000 $855,000 5.3%
San Pedro 58 $515,000 $485,000 6.3%
Torrance 112 $656,000 $585,000 12.1%
Westchester 32 $943,000 $892,000 5.7%

It’s Hard To Believe this is in Los Angeles

By Keith Kyle,Overlooking the Portuguese Bend Beach Club

When people think of life in LA they generally think of the iconic palm trees, beaches and great weather but they also picture traffic, cars and life in the big city.  There are some secret places that feel more like a tropical vacation than the frenzied life of Los Angeles and the Portuguese Bend Beach Club in Rancho Palos Verdes is certainly one of them. It’s a relatively unknown part of Palos Verdes and the residents are more than happy to keep it their little secret.

When you visit this secluded and private beach it reminds you more of something you would find in deep in Baja Mexico and not of something just a short distance from downtown Los Angeles.

Although there are a few very luxurious homes, the bulk of the properties are beach bungalows that feel more like they would belong in an artist colony than on this prime piece of real estate.

 

Median Home Prices in Manhattan Beach Decline Y-O-Y in February 2015

By Keith Kyle912-Duncan

February saw a continuing decline in the homes for sale and the number of homes sold in Manhattan Beach and much of the South Bay with housing inventory remaining well below the average.  Manhattan Beach saw 25 homes sell in February at a median price of $1,750,000.  Although it was a 16% drop from the median price a year earlier, that had been a record setting month with median home prices well over $2,000,000.

City Homes Sold February 2015 Median February 2014 Median Year over Year % Change
Carson 39 $395,000 $362,500 9.0%
El Segundo 14 $818,250 $952,000 -14.0%
Gardena 23 $334,000 $372,500 -10.3%
Harbor City 11 $393,000 $317,500 23.8%
Hawthorne 29 $410,000 $460,000 -10.9%
Hermosa Beach 14 $1,512,500 $1,265,000 19.6%
Lawndale 9 $415,000 $412,250 0.7%
Lomita 5 $326,000 $515,000 -36.7%
Long Beach 203 $405,000 $385,000 5.2%
Manhattan Beach 19 $1,750,000 $2,083,500 -16.0%
Marina Del Rey 16 $1,335,000 $769,000 73.6%
Palos Verdes Estates 31 $1,300,000 $1,392,500 -6.6%
Playa Del Rey 11 $891,500 $517,500 72.3%
Rancho Palos Verdes 32 $1,038,750 $708,500 46.6%
Redondo Beach 46 $812,000 $767,500 5.8%
San Pedro 52 $405,500 $450,000 -9.9%
Torrance 86 $542,000 $511,500 6.0%
Westchester 20 $820,000 $797,000 2.9%

Chinese investors remain an X Factor for the US housing market | 2014-10-01 | HousingWire

I thought that this was a very relevant article as it pertains so importantly to the South Bay and Palos Verdes.  Sellers need to understand where Chinese investors remain an X Factor for the US housing market | 2014-10-01 | HousingWirepotential buyers are coming from and how to reach these international buyers.  According to the article the Chinese have now become the largest international investors in US real estate.   The areas seeing the greatest impact are the NY and the coastal cities of California and the South Bay.

Chinese investors remain an X Factor for the US housing market | 2014-10-01 | HousingWire.

South Bay Home Inventory Continues to Rise

By Keith Kyle

What may be the beginning of a slight shift in the South Bay real estate market, inventory has continued to rise for the 5th straight month as both pending and sold homes remained relatively flat. Active homes for sale in July of 2014 were up 40% from the same month in 2013, while sold homes declined 11.7% and pending home sales only increased by 3.5%. This buildup of inventory may finally slow the market and lead to a market not so heavily favoring sellers.  The local Manhattan Beach real estate trends are slightly different with numbers being somewhat similar to a year ago in terms of active, pending and closed home sales although prices continue to rise, especially in the higher end of the market.  To see the most recent home sales visit our recent sales information site.

4227 Pascal Place, Palos Verdes Peninsula – Exclusive Home Listing

This stunning Academy Hill home offers an inviting floor plan with open spaces bathed in natural light.   Unlike many homes in the area, all 4 bedrooms are on the second level allowing for large and open areas on the lower level.   Upon entering you are immediately welcomed by the openness created by the owners for family and social living.  The living room offers a beautiful updated fireplace for those cool winter evenings and is the perfect place to sit down and relax.  The remodeled kitchen features custom cabinetry, stainless Kitchen Aid appliances and gleaming granite counters perfect for entertaining.  If that’s not enough the kitchen opens to both the formal dining area as well as the family room and even offers beautiful city views.  The formal dining room has been updated with a more modern feel and is the perfect blend of formal and informal living an also enjoys big views.  The family room is the perfect gathering spot at the end of the day and has picture windows to allow plenty of light and access to the backyard and patio.  Summer days and warm winter nights can be enjoyed in the backyard and patio with ample privacy, tranquility and fantastic canyon and city views.  Contact us for more information or for a private showing.