No Single Family Estate Home Sales in Manhattan Village

By Keith KyleManhattan Village Estate Homes

One of the real housing inventory shortages over the past few years has been in Manhattan Village.  While there have been some townhomes for sale there have been almost no single family homes available.  The last MLS sale for a single family home in Manhattan Village was in January of 2016 and the only sale in all of 2015 happened in April of that year.  Manhattan Village is one of the only gated communities in the area and offers “court” homes (multiple townhome style units with nobody above or below), townhome units and single family estate homes.  While there have been a healthy inventory of the townhomes, the single family homes are few and far between.

 

Our Newest Manhattan Beach Adjacent Listing – 5404 W 149th Place in Fusion

Welcome to Fusion at South Bay…the most affordable way of buying a newer construction home in a gated4 ext community in the heart of the South Bay. This beautiful and bright “A” floor plan unit offers two spacious bedrooms and 2 bathrooms on two separate levels with an open layout ideal for entertaining. Take advantage of the endless summer weather as this home offers one of the larger patio areas perfect for enjoying those summer breezes and relaxing on the deck. Upgrades are found throughout including gleaming hardwood floors, granite counters, stainless appliances, plantation shutters, recessed lighting and so much more. Other amenities include in unit stackable washer and dryer, air conditioning and forced air heat, one car garage plus a separate assigned parking space. The community is ideally located just east of Manhattan Beach and enjoys nearly ideal year round weather and offers a community pool and spa, small park and playground, dog walking areas and a basketball court. All of this in the award winning Wiseburn School District.

 

 

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31 fusion complex

12 kit 9 dinrm

The Difference Between Normal Streets and Walk Streets

By Keith Kyle

The homes located on the “walk streets” of Manhattan Beach and Hermosa Beach are highly coveted and far more valuable to similar homes just blocks away that are not on these pedestrian walkways. So what is the difference?

It’s perhaps easiest to see the difference

"Regular" street in Manhattan

“Regular” street in Manhattan

Walkstreet looking west

Walkstreet looking west

 

 

 

 

 

 

 

 

 

What the walkstreet homes allow is somewhat of a front yard that opens up to the very social feel of the neighborhood. Not only is it safer due to the lack of cars, but it becomes and extension of both the home and the front yard and lends itself to a great community feel. In addition the lack of cars means lack of garages so all of the homes fact the more asthetically pleasing parts of the home and not the garages, alleys, etc.

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

Manhattan Beach Real Estate Market Snapshot – May 2014

By Keith Kyle

Manhattan Beach real estate….by the numbers

May marks the 5th straight month with an increase in available homes for sale in Manhattan Beach with 65 current MLS listings as of May 5th, 2014.  See information below on the current market trends including current MLS listings, recent sales, pending home sales and home prices in this luxury coastal community in Southern California.

Active Homes for Sale:  Current Median Home Price $2,050,000

Active Homes for Sale – 65 homes
List Price DOM BR BA Year Built SqFt Lot SqFt
Min 557,000 3 2 1.00 1921 812 1,350
Max 7,999,900 370 7 7.00 2014 10,001 15,001
Avg 2,618,445 37 4 3.80 1984 2,990 5,227

Pending and Backup

Homes Currently in Escrow with Pending or Backup Status – 48 Homes
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 905,000 1 1.00 1935 765 1,351
Max 12,875,000 355 6 7.00 2014 7,900 13,506
Avg 2,167,730 49 4 3.44 1980 2,799 5,025

Closed Home Sales in Past 30 Days (April 5th to May 4th)

47 Homes Sold/Closed Escrow 4/5 – 5/4
Single Family Residence – 44 total SFRs sold
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 990,000 950,000 1 1.00 1925 699 1,286
Max 8,950,000 204 8,100,000 6 10.00 2014 8,500 14,368
Avg 2,235,316 38 2,166,045 4 3.20 1972 2,653 4,993
 Townhomes and Condos – 3 Total Sales
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 1,299,000 8 1,450,000 2 3.00 1982 1,608 2,698
Max 2,299,000 33 2,100,000 3 4.00 2007 2,050 3,359
Avg 1,692,333 18 1,701,667 3 3.33 1992 1,878 2,921
All Home Sales – 47 Sold Homes
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 990,000 950,000 1 1.00 1925 699 1,286
Max 8,950,000 204 8,100,000 6 10.00 2014 8,500 14,368
Avg 2,200,657 37 2,136,404 3 3.21 1974 2,604 4,860

Home Inventory On the Rise in Manhattan Beach

By Keith Kyle

We may be finally seeing some relief from record low inventory in the luxury market of Manhattan Beach CA.  Other than the peak summer months of 2013 we have seen record and near record lows for active homes for sale. As of May 5th there are currently 65 properties for sale in this coastal community which is a dramatic improvement over the record low 25 homes for sale in December. Although we’ve now seen 4 straight months of increases in the available homes on the market, inventory is still nowhere near recent year highs which saw over 300 homes for sale in 2009.  Due to the duration of this low inventory, pent up demand has driven prices to peak levels and in some premier locations well beyond peak prices prior to the bubble years.

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Manhattan Beach Townhomes Not Always Priced Lower

By Keith Kyle

When many buyers start their search they always start with thoughts of the perfect home.  Usually reality hits quickly and compromises have to be made.  One of the common compromises that people often decide on is that they would be willing to purchase a townhome instead of a single family home.  The thought is that a townhome will be bigger, newer and in a better location than an equally priced single family, and that it will be the most affordable way of finding homes in this coastal community……

That’s not always the case in the luxury market of Manhattan Manhattan Beach sand section homesBeach. 

Due to the zoning in Manhattan Beach in which most areas only allow for 1 dwelling on a lot, most townhomes are built and sold in the sand section.  This area is closest to the beach, and the most sought after in Manhattan Beach.  As everyone’s image of life at the beach includes ocean views, short walks to the beach, and the sounds of the surf…..this is where everyone wants to live and is priced accordingly.

Luxury home buyers are often surprised that townhomes are not a far less expensive option, but as the bulk of the townhome options in Manhattan are in the priciest neighborhood they yield some pretty remarkable prices.  This isn’t to say that they are not considerably less expensive than the single family next door, but compared with prices in Manhattan Beach as a whole, they are higher than expected.  Other than the sand section, zoning really only allows townhomes on a few of the busier streets throughout the city and there just are not that many opportunities to purchase them as the supply is so limited.

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Hermosa Beach Home Inventory Hits a 10 Year Low

By Keith Kyle

If you’re a home buyer looking for a home in Hermosa Beach no doubt you’re frustrated.  Why is it so difficult to find a home in this coastal community?   The reason is simple….there are none.  That may be a slight exaggeration but not by much as December saw the fewest number of active listings in over 10 years.  Although January numbers were not reflected in the chart below as of this posting, the number of homes currently for sale in Hermosa as of January 28th is now down to 28 including all single family, townhome and condos.  With a market so favoring sellers, peak prices, multiple offers and more, it’s becoming difficult to understand why more owners are not listing and selling their homes.

Search Condos for Sale in El Segundo

 

While home prices have gone up throughout the South Bay, El Segundo is still far more affordable than neighboring Manhattan Beach and the least expensive housing option is a condo.  There are a limited number of condominium complexes (see real estate market statistics for condos in El Segundo) but the limited options have some very attractive prices.  The condos are generally located on the outer edges of town due to zoning allowing higher density buildings.

Current El Segundo Condos for Sale

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