March 2016 Median Home Prices for Manhattan Beach and the South Bay

By Keith Kyle

The numbers for March are in and it was another big month for home prices and home values in Manhattan Beach.  The median home price in this highly demanded coastal community was $2,275,000 and seems to just keep climbing.  There were 41 homes sold in Manhattan Beach CA or the month which is fairly typical over the past few months.

City Homes
Sold
March
2016 Median
March
2015 Median
Year
over Year % Change%
Carson 54 $447,500 $426,500 4.9%
El Segundo 10 $1,006,000 $849,000 18.5%
Gardena 58 $475,000 $403,500 17.7%
Harbor City 14 $450,000 $455,000 -1.1%
Hawthorne 36 $513,000 $642,000 -20.2%
Hermosa Beach 16 $1,183,000 $1,310,000 -9.7%
Lawndale 10 $385,000 $447,000 -13.9%
Lomita 11 $530,000 $481,000 10.1%
Long Beach 327 $478,000 $414,000 15.3%
Manhattan Beach 41 $2,275,000 $1,940,000 17.3%
Marina Del Rey 18 $1,025,000 $860,000 19.2%
Palos Verdes Estates 28 $1,355,000 $1,400,000 -3.2%
Playa Del Rey 18 $560,000 $546,000 2.6%
Rancho Palos Verdes 56 $1,156,250 $1,044,500 10.7%
Redondo Beach 89 $893,000 $862,000 3.7%
San Pedro  80 $554,000 $481,000 15.1%
Torrance 133 $615,000 $530,000 16%
Westchester 25 $910,000 $854,000 6.6%

See The Homes That Sold In Manhattan Beach CA in March 2016

By Keith KyleManhattan Beach Modern Houses

March was yet another very busy month for home sales in Manhattan Beach and the South Bay with home prices continuing to go up and the number of home sales rising as well.  The demand has been pretty overwhelming in Manhattan Beach with multiple offer situations selling over the list price being the norm.

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….even in a market in which inflated prices are becoming more common.  The lowest priced home of the month was a 2 bedroom townhome in Manhattan Village at $984,000 and the most expensive was $5,700,000 for an older home on an enormous (by Manhattan Beach standards) 11,405 square foot lot.  As has been the norm for the past 2 years, none of the sales were foreclosures.

Click any link below to see the homes sold in March of 2016.
El Segundo
Gardena
Hawthorne
Hermosa Beach
Hollywood Riviera
Lawndale
Manhattan Beach
Palos Verdes Estates
Rancho Palos Verdes
Redondo Beach
Rolling Hills Estates
San Pedro
Torrance

Average Home Sales Price Nearing $3,000,000 in Manhattan Beach

By Keith Kyle

1631 19th Street sold at $2.725M

1631 19th Street sold at $2.725M

The December numbers are in and if there was any thought that the real estate market in Manhattan Beach was leveling the numbers certainly say otherwise.

The average home price in Manhattan Beach for the homes that closed escrow during December was $2,766,567 with a median price of $2,184,000.  That’s a fairly incredible number that still shows no sign of slowing or reversing.   The reasons are the continued demand with a limited supply of new listings, combined with an abundance of new construction homes that are fetching record prices.  See the chart below for the December home sales numbers for Manhattan Beach and the South Bay for December of 2015.

City Homes
Sold
December
2015 Median
December
2014 Median
Year
over Year % Change
Carson  73 $360,000 $365,000 -1.4%
El Segundo 10 $949,000 $735,000 20.2
Gardena 41 $420,000 $385,000 9.1%
Harbor City 15 $483,000 $467,000 9.1%
Hawthorne 35 $508,500 $667,750 -23.8%
Hermosa Beach 24 $1,475,000 $1,360,000 8.5%
Lawndale 13 $420,000 $415,000 1.2%
Lomita 16 $520,000 $490,000 6.1%
Long Beach 339 $456,000 $395,000 15.4%
Manhattan Beach 34 $2,184,000 $1,689,000 29.3%
Marina Del Rey 31 $905,000 $759,000 19.2%
Palos Verdes Estates 29 $1,456,000 $1,150,000 26.7%
Playa Del Rey 17 $605,000 $482,000 25.5%
Rancho Palos Verdes 48 $1,170,000 $1,135,000 3.1%
Redondo Beach 89 $826,250 $770,000 7.3%
San Pedro 72 $517,500 $492,000 5.2%
Torrance 133 $597,000 $562,000 6.3%
Westchester 34 $951,000 $807,500 17.8%

Is Liberty Village – Manhattan Beach – Ready for $3.0M Homes?

By Keith Kyle

1631 19th Street sold at $2.725M

1631 19th Street sold at $2.725M

Liberty Village is a small area of East Manhattan Beach with primarily smaller, original homes built in the 1940s and 1950s.  This had always been the least expensive area or Manhattan and homes were often owned by engineers from nearby TRW (now Northrop Grumman).  Well times have changed and with lot values now over $1,000,000 even Liberty Village is a viable option for some big money buyers in Manhattan Beach priced out of the other areas.

Although still made up primarily of original homes, many of which have been extensively remodeled by owners or flippers, the area has seen a definite increase in new construction as builders have seen a much higher likelihood of yielding significant profits.  Lately numbers have skyrocketed and we’ve inched closer to the $3.0M mark which would have seemed unthinkable a year ago.

The highest sale was at 1631 19th Street which closed at $2,725,000 in June of 2015.

1304 Lynngrove Currently Listed at $2.99M

1304 Lynngrove Currently Listed at $2.99M

The listing at 1304 Lynngrove initially took that high water mark and then some.  Originally listed in February of 2015 for just under $3.2M the home has had a number of price reductions and is now listed at $2,999,900 which is still a huge number for Liberty Village.   It will be interesting to keep an eye on the ultimate sales price of this new construction home on a 5300 foot lot as it will likely set the bar for any and all upcoming new construction homes in the area.

We're sorry, but we couldn't find MLS # SB15245725 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

Luxury Homes Dominate the Market in Manhattan Beach for April 2015

By Keith Kyle612 John Street

April was a big month in Manhattan Beach with both the average home price and median home price topping $2,000,000.  The month saw 31 home sales of which the lowest priced home was $699,000 for a 2 bedroom condo while the biggest sale of the month was a Strand listing at $6,475,000.  Only 2 homes sold below $1,000,000 while the luxury market is clearly thriving with 17 homes topping the $2,000,000 threshold.   See the current homes for sale in Manhattan Beach or see other home sales and prices throughout the South Bay.

MLS TYPE
 
ADDRESS  PRICE  BED/BATH AGE SQFT
SB15040916 SFR/D
462
36th PL  $          1,255,500 2/2,0,0,0 1934/ASR 1150/T
SB15018876 TWNHS/A
3101
Alma AV  $          2,150,000 3/3,0,1,0 2005/EST 1870/A
SB14233026 SFR/D
3016
Alma AV  $          2,250,000 3/2,1,0,0 1936/ASR 1850/A
SB14241757 TWNHS/A
229
Rosecrans PL  $          2,565,000 3/3,0,1,0 2014/BLD 2331/AP
SB15062777 TWNHS/D
305
8th ST  $          2,990,000 3/3,0,1,0 2002/ASR 2285/A
14777865 TWNHS
112
23RD PL  $          2,995,000 3/4,0,0,0 2001 1946/A
SB15025290 TWNHS/D
2412
Alma AV  $          3,100,000 3/3,0,1,0 2005/ASR 2400/A
SB15036116 SFR/D
328
6th ST  $          3,315,500 2/2,0,0,0 1947/ASR 1300/A
SB15031417 SFR/D
4414
The Strand  $          6,475,000 9/6,0,0,0 1969/ASR 4401/A
SB15046398 SFR/D
1405
Oak AV  $          1,300,000 2/1,0,0,0 1952/ASR 794/A
SB15067121 SFR/D
2001
Oak AV  $          1,410,000 2/1,0,0,0 1941/ASR 846/A
SB15052111 SFR/D
2209
Oak AV  $          1,410,000 3/2,0,0,0 1948/ASR 1175/A
SB15028856 SFR/D
845
Marine AV  $          1,684,100 3/1,1,1,0 1951/ASR 1533/AP
SB15013850 SFR/D
2913
Elm AV  $          1,800,000 5/2,1,0,0 1963/ASR 2600/A
SB15028802 SFR/D
1944 N
Ardmore AV  $          2,000,000 3/2,0,0,0 1956/ASR 2158/A
SB15004582 SFR/D
3413
Elm AV  $          2,100,000 4/3,0,1,0 1981/ASR 3412/AP
SB15068499 SFR/D
839
Marine AV  $          2,225,000 5/3,0,0,0 1950/APP 3614/A
SB15054726 SFR/D
3408 N
Poinsettia AV  $          2,565,000 5/4,0,0,0 2000/ASR 3155/A
SB15009398 SFR/D
1801
Palm AV  $          2,900,000 5/1,3,1,0 2000/ASR 3893/A
SB15054168 SFR/D
861
8th ST  $          2,525,000 2/1,0,0,0 1950/ASR 1232/A
SB15039834 TWNHS/A
31
Coronado CT  $          1,250,000 3/1,1,1,0 1987/ASR 1916/A
SB15060209 SFR/D
52
Village CR  $          2,325,000 4/1,2,1,0 1983/ASR 3263/A
SB15025842 SFR/D
1551
23rd ST  $          1,440,000 3/2,0,0,0 1968/ASR 2046/A
SB15046172 SFR/D
1501
23rd ST  $          1,460,000 4/2,1,0,0 1969/ASR 2678/A
SB15057862 SFR/D
1909
Magnolia AV  $          2,798,000 5/5,0,1,0 2006/ASR 3767/A
SB15080582 CONDO/A
1501
Artesia BL #4  $              699,000 2/3,0,0,0 1978/ASR 1193/A
15820107 SFR/D
107 N
AVIATION  $              900,000 3/1,0,0,0 1950 952
SB15049184 SFR/A
1160
11th ST  $          1,350,000 4/2,0,0,0 1949/ASR 1205/A
SB15050764 SFR/D
1727
Curtis AV  $          1,749,000 3/2,0,1,0 2015/SEE 2172/A
SB14211094 SFR/D
1846
6th ST  $          1,910,000 4/2,0,1,0 1979/APP 2544/A
SB15046439 SFR/D
1501
10th ST  $          2,550,000 4/3,0,1,0 2001/ASR 3685/A

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%

Manhattan Beach median home prices continue to climb, experts point to schools – The Beach Reporter: Manhattan Beach

Manhattan Beach median home prices continue to climb, experts point to schools – The Beach Reporter: Manhattan 128 14th StreetBeach.

This was a recent article from the Beach Reporter regarding the rising home values in Manhattan Beach and some of the reasons for the rapidly increasing prices.

October Home Sales and Median Home Prices in Manhattan Beach

Manhattan Beach saw strong numbers in October with both the number of homes sold and median prices indicating a very strong market.  Despite near record low inventory the available listing seemed to sell quickly. As has been the case for much of 2014 the market was driven in large part by new construction homes and luxury homes.

City Homes
Sold
October
2014 Median
October
2013 Median
Year
over Year % Change
Carson 40 $375,000 $361,000 3.88%
El Segundo 15 $740,000 $779,000 -5.01%
Gardena 35 $397,000 $359,000 10.58%
Harbor City 12 $303,750 $421,500 -27.94%
Hawthorne 57 $585,000 $496,000 17.94%
Hermosa Beach 17 $1,325,000 $1,357,000 -2.36%
Lawndale 13 $429,500 $345,228 24.41%
Lomita 18 $508,750 $560,000 -9.15%
Long Beach 357 $430,000 $405,000 6.17%
Manhattan Beach 47 $1,917,500 $1,416,000 35.42%
Marina Del Rey 35 $712,500 $876,000 -18.66%
Palos Verdes Estates 34 $1,140,000 $1,337,500 -14.77%
Playa Del Rey 23 $490,000 $442,500 10.73%
Rancho Palos Verdes 41 $1,052,500 $915,000 15.03%
RedondoBeach 92 $809,000 $750,000 7.87%
San Pedro 58 $437,000 $433,000 0.92%
Torrance 122 $590,000 $515,000 14.56%
Westchester 35 $855,000 $740,000 15.54%

Manhattan Beach Half Lot Home Sells for $510,000 Over List Price!

By Keith Kyle2401 Manhattan Ave

If there was any doubt about the intensity of the housing market in the sand section of Manhattan Beach, the recent sale at 2401 Manhattan Ave should put those doubts to rest.

Manahattan Beach has been an incredible market over the past 2 years and, as realtors, we are used to seeing multiple offer situations and homes selling over asking price.  The recent sale at 2401 Manhattan Ave simply amazes, however.  Listed on October 27th, the home received immediate and overwhelming interest with multiple offers with most being over the asking price.  The home was fairly appropriately priced man-ave-lrat $2,495,000 (which would have been an unheard of number a year earlier) and sold for a whopping $3,005,000.  The location was ideal as it was a corner lot on a walk street allowing for somewhat unblockable views and just a half block to the beach.

The home, however, was certainly dated and sits on a “half lot” (1350 sq feet, meaning that it does not extend from the walk street to the alley which most homes in the area due….very much limiting the size of a home that could be built to around 2000 feet). As it was built in 1937 and given the condition it certainly appears that the home is going to be torn down with a new high end luxury home replacing it.  Given the incredible sales price and construction costs the owner is likely to be in the mid low to mid $4.0M range when manhattan-aveall is said and done…… for a 2200 foot home.  It shows just what location and a view is worth.

If this doesn’t show just how hot the Manhattan Beach market is, nothing will.