Are Manhattan Beach Starter Homes a Thing of the Past?

By Keith Kyle

Without question, Manhattan Beach is a “hot” real estate market.  As if the number of homes selling over list price with multiple offers doesn’t pose enough of a challenge to entry level buyers, the competition with builders and developers makes it all but impossible.  Whenever the market heats up to this extent it seems that every builder, investor and developer wants a piece of the action.  Whether it’s flipping a larger but older home, or knocking down the original bungalow to build an estate property, the potential profits are just too enticing for builders…..and that all but eliminates the opportunities for entry level buyers.

These builders are looking for just about any well priced home or piece of property and many get sold before they’ve even gone on the market.   The problem is that what these builders consider “tear downs” are the very same homes that many buyers would consider starter homes…and their entry into this high demand community.   What might be an affordable original 3 bedroom, 1200 foot home built in the 1940s priced in the low $900s, gets knocked down, quickly developed and soon comes to market as a $3.0M+ mansion.  Unfortunately buyers looking to get into this neighborhood are often young professionals or young families interested in the award winning schools, but are priced right out of the market.

128 14th Street -  2012  Sold April 2012 for $1,950,000

128 14th Street – 2012 Sold April 2012 for $1,950,000

128 14th Street  - Currently listed at $6,399,000

128 14th Street – Currently listed at $6,399,000

221 23rd Street sold at 1,013,000 in 2012

221 23rd Street sold at 1,013,000 in 2012

Listed for $2,999,000 2014

221 23rd – Listed for $2,999,000 2014

This isn’t the first time that this has been the struggle and it won’t be the last.  Buyers either need to be very patient and wait for these dramatic price increases (and almost instantaneous profits for builders) to ease up, or be willing to overspend a bit to compete with the builders when the home actually does make it to market.

For sellers the time is most certainly right, but they need to be cautious as more often than not they could likely get more money by listing the home and putting it on the open market than selling to a builder without any competition.

The Luxury Market in Manhattan Beach is alive and well – 40 Homes Listed at Over $2.0M

By Keith Kyleinterior courtyard

The market in Manhattan Beach continues to be dominated by luxury homes an ever increasing median home prices.  Of the current 68 homes active on the Manhattan Beach MLS, 40 of them are priced at $2,000,000 or higher.   Only 7 of the 68 are priced below $1.0M which makes Manhattan Beach one of the pricier neighborhoods in Southern California.  Over the last 18 months we’ve seen an incredible influx of cash and high net worth buyers enter the market and prices have been driven up quickly.

Current Luxury Homes and Land for Sale in Manhattan Beach

  1. 5 beds, 5 baths
    Home size: 4,015 sq ft
    Lot size: 5,818 sqft
    Year built: 2017
    Days on market: 6
  2. 8 beds, 9 baths
    Home size: 6,381 sq ft
    Lot size: 6,926 sqft
    Year built: 1951
    Days on market: 10
  3. 4 beds, 2 baths
    Home size: 1,800 sq ft
    Lot size: 2,999 sqft
    Year built: 1961
    Days on market: 11
  4. 6 beds, 6 baths
    Home size: 5,108 sq ft
    Lot size: 7,503 sqft
    Year built: 1992
    Days on market: 12
  5. 5 beds, 5 baths
    Home size: 4,676 sq ft
    Lot size: 2,799 sqft
    Year built: 2004
    Days on market: 12
  6. 4 beds, 3 baths
    Home size: 2,578 sq ft
    Lot size: 5,279 sqft
    Year built: 1963
    Days on market: 16
  7. 3 beds, 4 baths
    Home size: 2,300 sq ft
    Lot size: 1,548 sqft
    Year built: 2017
    Days on market: 18
  8. 4 beds, 3 baths
    Home size: 3,000 sq ft
    Lot size: 4,201 sqft
    Year built: 1997
    Days on market: 19
  9. 4 beds, 4 baths
    Home size: 3,308 sq ft
    Lot size: 2,097 sqft
    Year built: 2001
    Days on market: 23
  10. 4 beds, 4 baths
    Home size: 2,039 sq ft
    Lot size: 1,351 sqft
    Year built: 1995
    Days on market: 27

See all Real estate in the city of Manhattan Beach.
(all data current as of 11/19/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

East Manhattan Home Prices Reaching New Levels

By Keith KyleEast-Manhattan-Craftsman

Nowhere have we seen prices skyrocket in the South Bay over the past 16 months more than the luxury market of  Manhattan Beach.  In some areas we’ve not only returned to peak prices but well surpassed previous the high water mark for luxury homes.  Manhattan Beach’s most affordable area, known as East Manhattan, is no exception with formerly unheard of prices starting to become the norm.

East Manhattan Beach is the area of town east of Sepulveda Blvd and west of Aviation.  Due to being further from the beach, values have historically been considerably lower than other areas of this coastal community.  Excluding the truly rare oversized lots, prior to January 2014 there had only ever been 8 homes that had listed and sold over the $3,000,000 mark.

Oh how times have changed

As of April 20th there are currently 5 homes active on the market priced over this rare price point as well as 2 recent sales.  Time will tell if this is the new normal or just a matter of a vast number of luxury home sellers attempting to take advantage of this very favorable market, but either way the pricing trend in East Manhattan is a great indicator of just how incredible the market has been and continues to be.

Current Luxury Homes in East Manhattan Beach 

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

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