Manhattan Beach Concerts in the Park

By Keith KylePoliwog Park

If you’re looking for some community summer fun, the concerns in the park series are a great way to spend your summer Sunday evenings.  Starting August 13th and ending on September 3rd the concersts take place at Polliwog Park (see map below) from 5pm to 7pm.  The summer schedule is:

  • August 13th – Shari Puorto Band
  • August 20th – Hollywood U2 (U2 cover band)
  • August 27th – Lynette Skynyrd (Lynard Skynyrd cover band)
  • September 3rd – Colour My World (Chicago cover band)

[googlemaps https://www.google.com/maps/embed?pb=!1m18!1m12!1m3!1d3312.0713245464676!2d-118.38699718478938!3d33.88781688065106!2m3!1f0!2f0!3f0!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x80c2b40ccc96b56f%3A0xaeeebefc27fcf920!2sPolliwog+Park!5e0!3m2!1sen!2sus!4v1502757401349&w=600&h=450]

Manhattan Beach Median Home Prices for February 2016

By Keith Kyle128 14th Street

The South Bay saw another strong month for home prices although a few cities, Manhattan Beach included, saw big percentage drops in median home prices.  Those numbers, especially in smaller cities, or in a month with fewer home sales, don’t really mean much, but taken over times gives a good indication as to what is happening in the local Manhattan Beach real estate market.

Manhattan Beach had a pretty slow month with with 22 home sales, which is slightly below the norm, but the number of closed sales has been trending down over the past few months.  The median home price was below $2,000,000 for the first time in a while at just under $1,800,000 but doesn’t appear to indicate any trend and rather just the fact that most of the sales in February were resales and not new construction as well as fewer walkstreet and oceanfront homes that quickly drive up the monthly prices.  Visit our Manhattan Beach real estate market trends section to see the various trends and statistics in Manhattan Beach.

City Homes
Sold
February
2016 Median
February
2015 Median
Year
over Year % Change%
Carson 38 $420,000 $395,000 6.2%
El Segundo 11 $1,109,000 $815,000 36%
Gardena 38 $410,750 $334,000 23%
Harbor City 10 $527,500 $393,000 34.2%
Hawthorne 30 $483,000 $450,000 7.4%
Hermosa Beach 17 $1,225,000 $1,512,500 -19%
Lawndale 8 $431,000 $415,000 3.9%
Lomita 11 %505,000 $326,000 55%
Long Beach 238 $461,000 $409,000 12.7%
Manhattan Beach 22 $1,795,000 $2,361,000 -24%
Marina Del Rey 25 $864,000 $1,335,000 -35%
Palos Verdes Estates 33 $1,403,000 $1,300,000 7.9%
Playa Del Rey 10 $626,000 $710,750 6.9%
Rancho Palos Verdes 26 $1,110,000 $1,039,000 6.9%
Redondo Beach 45 $869,750 $812,000 7.1%
San Pedro 33 $505,000 $416,000 21.4%
Torrance 85 $565,000 $544,000 4%
Westchester 21 $917,000 $820,000 11.8%

Another Big Month in Manhattan Beach Real Estate

By Keith Kyle612 John Street

January 2016 saw another impressive month of home sales and home prices in this luxury coastal community.  Althought median prices were down from the prior month, they were up from a year ago and demand continues to be strong.  Fewer new construction homes were sold this past month which has some concerned about the abundance of current and future new construction projects in Manhattan Beach.

Visit our sales page to see all of the recent home sales in Manhattan Beach and neighboring communities.

City Homes
Sold
January
2016 Median
January
2015 Median
Year
over Year % Change%
Carson 27 $415,000 $385,000 7.8%
El Segundo 8 $1,074,500 $799,000 34.5%
Gardena 28 $471,000 $399,000 18%
Harbor City 13 $500,000 $454,000 10.1%
Hawthorne 33 $457,000 $500,000 -8.5%
Hermosa Beach 10 $1,783,500 $1,680,000 6.2%
Lawndale 9 $450,000 $430,000 4.7%
Lomita 12 $420,000 $365,000 15.1%
Long Beach 241 $425,000 $406,000 4.7%
Manhattan Beach 22 $1,760,000 $1,675,000 5.1%
Marina Del Rey 16 $1497,000 $855,000 75.1%
Palos Verdes Estates 19 $1,272,000 $1,251,000 1.7%
Playa Del Rey 10 $574,000 $527,000 9.0%
Rancho Palos Verdes 38 $900,000 $1,015,000 -11.3%
Redondo Beach 66 $885,000 $802,000 10.3%
San Pedro 47 $465,000 $450,000 3.4%
Torrance 83 $632,000 $617,000 2.3%
Westchester 22 $880,000 $900,000 -2.2%

Suddenly there is some housing inventory in Manhattan Village

By Keith Kyle

It wasn’t long ago when there was just about nothing on the market in Manhattan Village..for quite a while.  Well that seems to have changed this week with a number of homes hitting the market virtually at the same time.  There are currently 4 homes on the market with at least one more to come in the near future.

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A Bank Owned Home in Manhattan Beach? 665 33rd Street in the Tree Section

By Keith Kyle665 33rd Street Manhattan Beach

It’s been quite a while since we’ve seen a bank owned home in Manhattan Beach.  There are still a limited number of foreclosures in the South Bay, but qith homes now valued beyond the former peak and prices rising daily in Manhattan Beach it would seem almost impossible that someone would be foreclosed on but this is clearly a remnant of a market significantly different just 2 years ago.  With the foreclosure process taking a long time we’re just now seeing this on the market.

ML#:   PV15097990 
APN:   4174006035 
List Price:   $1,950,000 
Price Per Sqft:   $891.22 
County:   Los Angeles 
Property Type:   Single Family Residence (D) 
Bedrooms:   3 
Bath(F,T,H,Q):  3,0,0,0 
Sqft (Src):   2,188 (Assessor’s Data) 
Ac/LotSqft (Src):   0.124/5,390 (A) 

[idx-listing mlsnumber=”PV15097990″ showall=”true”]

1321 Voorhees – Luxury Home for Sale in East Manhattan Beach

The new listing at 1321 Voorhees in East Manhattan Beach offers an exquisite option for the luxury buyer looking for a larger, new construction property.  This brand new home offers a wonderful sense of openness with 6 bedrooms, 5 baths, 3600 feet and all of the high end finishes Manhattan Beach buyers have come to expect.  All of this in the Pennekamp Elementary neighborhood with award winning Manhattan Beach schools.  Contact us for more information

[idx-listing mlsnumber=”SB15016853″ showall=”true”]

The number of homes for sale in Manhattan Village continues to trend upward while Manhattan Beach inventory remains low

By Keith KyleManhattan-Village-Estate-Home

The real estate market in Manhattan Village, the gated community in Manhattan Beach, CA, continues to buck the trend.  While the market in the other neighborhoods of Manhattan Beach has seen record low inventory, few new listings, and extremely high demand for both low end fixers and high end luxury homes, the housing inventory in Manhattan Village has reached near record highs.  The market has still been very active with appropriately priced homes quickly selling quickly but new listings seem to replace anything going into escrow.  I was asked recently by a client whether the higher levels of inventory is indicative of low demand and a less desirable location, but that’s certainly not the case.   It is a very different feel to the rest of the Manhattan Beach but the amenities of the community including numerous pools, 24 hour security, and exterior landscaping and maintenance draws homeowners looking or a greater sense of privacy.Manhattan-Village-Home-Sales

 

The chart to the left shows the number of homes for sale (light green), sold homes (dark green) and current homes “in escrow” (red line) for the past year.  The number of homes on the market in September, 12, was the highest inventory since 2010.

See the current Manhattan Village homes for sale

Keith Kyle the December Agent of the Month in Executive Agent Magazine

Keith Kyle, one of the  top agents with South Bay Brokers in Manhattan Beach, was recognized as the agent of the month in Executive Agent Magazine.  The magazine strives to feature the leaders in the industry in various high end real estate markets and Keith was the South Bay’s recipient for December 2014.  Keith has been a top producing agent since 2007 and serves the various communities of the South Bay including Manhattan Beach, Hermosa Beach, Palos Verdes, Redondo and surrounding cities. Keith also received the “Best of Manhattan Beach” for 2014 award.

Click to read the full article and open Executive Agent Magazine

EA-Cover

Have We Seen the Last of Manhattan Beach Homes Below $1,000,000?

By Keith KyleEast Manhattan Beach homes

Without question Manhattan Beach is a luxury home market with stunning homes, ideal locations, and award winning schools.  As most of the original homes were built between the 1930s and 1960’s there have always been options for those trying to get in to the areas whether for the investment, or the schools. These “starter” homes, while often in good but original condition, offered buyers an option below $1,000,000. With the recent building boom, and builders and flippers buying everything they can get their hands on, that has all changed.  Of the 42 homes sold in October, only one was listed and sold below $1,000,000 and even that was for a townhome in Manhattan Village.  The days of sub $1,000,000 may just be a thing of the past and unfortunately  that doesn’t bode well for many home buyers.

The chart above shows the number of sub $1,000,000 single family homes in Manhattan Beach

Recent Home Sale Shows Just How Hot the Oceanview Market Is

By Keith Kyle2401 Manhattan Ave

There is no question that the real estate market in Manhattan Beach has been on fire since the beginning of 2013.  Record low inventory and intense demand for luxury homes and prime locations has created a building boom not seen in a long while.  Multiple offer situations seem to be the norm and the number of all cash buyers continues to drive this already competitive market.   This continued demand from buyers and builders alike has driven prices upward to record numbers and nowhere is the demand greater than in the sand section.

The most recent example was the walkstreet home located at 2401 Manhattan Ave.  Just a block to the beach and having fantastic corner lot ocean views this home was certainly going to interest both the owner/user looking for a great location and builders seeking the same.  The home was listed at $2,495,000 which is already a huge number for a half lot home but all indications appear that the home had at least 11 offers and sold over $3.0M* which is a staggering number for a home with the limitations that come along with a 1,352 square foot lot.   Any future build will be limited to around a max square footage of 2000 feet.  The last sale of a new construction half lot (not on a walkstreet which certainly adds value) closed at $3.3M at 124 23rd Street.   Over $3.0M for this likely tear down at 2401 Manhattan Ave is a very large number indeed and shows just how far values have come in the past 24 months.

[idx-listing mlsnumber=”314032829″ showall=”true”]

*Sales price and number of offers is not verified information