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It’s been a while since we’ve seen multiple months of rising home inventory in Manhattan Beach but it seems to be heading in the right direction. Near all time lows in December, the number of new listings cotinues to slowly increase. The Manhattan Beach sand section saw the biggest jump in new listings. As of 3/23/18 there are 49 active homes for sale in the sand section, up from 27 in December, 20 active listings in the tree section up from 16 in December and 12 homes for sale in East Manhattan Beach up from 8 in December. This level of inventory is still well below the norm, but is trending in the right direction.
If you’re interested in the median home prices in the various sections and how they vary, the chart below should be a good resource. January median sales prices are up across the board from 2017 with the biggest jump being the Manhattan Beach sand section which is up almost 19% from the prior January. The tree section was up 1.4%, with the two sections comprising “East Manhattan” being 14.1% and 9.4%
By Keith Kyle
Although we’ve seen quite a slowdown in luxury home flips in Manhattan Beach, they are still out there and are still alive and well. The reason for the slowdown is that the home prices for older, original condition homes has increased so much in the last two years that it’s been tougher for investors and flippers to find properties with a guaranteed return. 2014 and 2015 saw a number of luxury home flips in Manhattan Beach and many opportunities for 
rehabbing and often expanding these original beach bungalows and many investors did very well. While it’s slowed down the recent flip, listing and sale at 1641 23rd Street in East Manhattan Beach. Purchased for $1,260,000 in November 2015, the reinvented (and expanded by about 400 feet it appears) home came on the market as a luxury flip for $1,799,000 in July of 2016. While that price may have been a bit over valued, the recent price drop to $1,699,000 seems to have done it as it’s gone into escrow as of September 20th. The sales price hasn’t been released but these are still big numbers for homes in the Liberty Village neighborhood of East Manhattan.
We're sorry, but we couldn't find MLS # SB16159529 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
By Keith Kyle
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.
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.