What a difference a few miles can make – Manhattan and Torrance Home Prices

By Keith KyleTorrance-Manhattan-Map

For those not familiar with the intricacies of the South Bay real estate market, many of the cities can look similar on paper and the only real difference appears to by the proximity to the beach…..

But what a difference that proximity can make.  While posting articles on the March 2016 home sales in both Manhattan Beach and Torrance, CA, the differences couldn’t have been more clear.

Both cities offer great locations, great weather, great schools and are highly sought after housing markets.  When it comes to home prices, however, there is no comparison.

Torrance saw 109 home sales in March of 2016 with the average list price of $648, 831 and the average sales price at $648,460.

Manhattan Beach saw 34 homes sell and close escrow in March of 2016 with only one of those homes selling below $1,000,000.  The average list price of $2,675,985 and the average sales price at $2,657,132 which again shows that very few homes are selling below list price.

The difference in both list and sales price was over $2,000,000 for towns separated by 1.01 miles in the closest spot.  See the many reasons why Manhattan Beach property is so valuable.

Foreclosures in Manhattan Beach?

By Keith Kyle

While Manhattan Beach was fairly well insulated from the market downturn and housing market collapse a few years ago, we have seen a few bank owned and preforeclosure properties lately.  Since July 1st there have been three “distressed” properties on the MLS.  These are not your usual foreclosures as prices are well over $1,500,000, but it’s still a very rare occurrence in this community of luxury homes and multi million dollar properties.

Manhattan_Beach_Foreclosures_2015

 

Currently there is only one short sale on the market located at 1127 5th St in East Manhattan beach.  Contact us if you would like to be updated with any of these rare foreclosure opportunities in the future.  To see a list of the foreclosures in other cities including Redondo Beach, Palos Verdes, Torrance and more.

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%

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.

OK….The Superbowl is Over and Manhattan Beach Open Houses are Back

Now that the Superbowl is behind us we can get back to our weekend open houses and this weekend has some great homes to see in Manhattan Beach. The list below is for the weekend of February 8th and 9th. Click here for updated open house information for other dates or other South Bay Cities including Hermosa Beach, Redondo and Torrance.

Manhattan Beach open houses for the weekend of February 8th and 9th

Days Hours Address Details Price
Sun. 2-4pm 3601 N. Pointsettia Ave. 3 BD, 1 BA, 1,070 S.F. $1,199,000
Sun. 1-4pm 1650 22nd St. 3 BD, 2 BA, Remodeled $1,249,000
Sat. / Sun. 2-4pm 1536 Marine Ave. 4 BD, 2 BA, “Behind The
Hedges”
$1,250,000
Sat. / Sun. 1-4pm 1701 Pacific Ave. 4 BD, 2 BA $1,500,000
Sat. 12-3pm 768 26th St. 3 BD, 2 BA, Charming Beach
Cottage, Approx. 1,500 S.F. w/ Pool
$1,699,000
Sat. / Sun. 12-4pm, 12-2pm 801 11th St. 4 BD + Office / 3 BA $1,970,000
Sun. 1-4pm 1161 2nd St. 5 BD, 4.5 BA, Beautiful Craftsman
Style Home
$1,980,000
Sun. 1-4pm 3521 Palm Ave. 4 BD, 3 BA $1,995,000
Sat. / Sun. 2-4pm, 3-5pm 1144 Walnut Ave. 5 BD, 4 BA + Office / Studio,
Tree Section
$2,149,000
Sun. 2-4pm 2912 Pine Ave. 5 BD, Home $2,175,000
Sat. / Sun. 1-4pm 210 Tarraza Pl. 3 BD, 3 BA, 2,147 S.F. Home
on a 1/2 Acre, 1st Time on Mkt Since 1961
$2,500,000
Sat. / Sun. 1-4pm 1733 Pine Ave. 5 BD, 5.5 BA, New Construction,
3,115 S.F.
$2,749,000
Sat. / Sun. 2-4pm 408 32nd St. 4 BD, 4 BA, New Listing, 2,340
S.F.
$2,800,000
Sun. 12-3pm 880 11th St. 5 BD, 4.5 BA, 4,100 S.F., Stunning
Tuscan Family Home on Lg. corner Lot
$2,850,000
Sun. 1-4pm 445 35th St. 5 BD, 4.5 BA + Office &
2 BD + 1 BA, 2 Homes on 2 Lots
$3,775,000
Sat. / Sun. 1-4pm 2903 Manhattan Ave. 3 BD, 4 BA, Amazing Views $5,000,000

Manhattan Beach and Surrounding Communities

By Keith Kyle

The South Bay has something to offer everyone in just about every price range.  In general prices are at the highest in Manhattan Beach and tend to decrease the further away you get.  Click on any of the city links below to see more information on these communities, what they have to offer in terms of homes and real estate, and the latest listings.