The number of home sales in Manhattan Beach was really starting to increase during the first few months of 2020. The red line below shows pending sales and it’s hard not to notice the decline into December and then the sharp turnaround in 2020. It’s hard to imagine that the impacts of Corona virus won’t temper that considerably but only time will tell home much of an impact it will actually have. The chart below offers a snapshot of the Manhattan Beach real estate market over the past 15 months. The light green bar shows active listings, the dark green is sold homes per month and the red line is the pending home sales. View all of the recent Manhattan Beach real estate trends and statistics.
There’s a new addition to the ultra high end Strand market in Manhattan Beach with the listing of 1804 The Strand. This is the most recent listing on the beachfront Strand in Manhattan Beach Californial.Priced at $18,500,000 that’s a pretty significant number for this property but the location is just about ideal being a few blocks from the congestion of downtown while still being walkable. It’s also located on a high part of the Strand offering staggering views. The property is actually a duplex with a 3 bedroom owners unit and a 2 bedroom guest unit. Priced at $18,500,000 it’s going to take a special buyer.
- 5 bedrooms (3 bedroom unit and 2 bedroom unit)
- 5 baths
- 3,994 sq feet*
- 3,329 sq foot lot*
Info on 1804 The Strand Manhattan Beach
By Keith Kyle
One of the homes currently on the market (as of July 8th, 2016) that we really like is located at 516 4th Street in the Manhattan Beach sand section. While not on a walkstreet the home sits on a quiet street and has the look and feel of a walkstreet location. The home offers a coastal plantation style with a large front yard and patio offering a great mix of indoor/outdoor living.
We're sorry, but we couldn't find MLS # SB16089792 in our database. This property may be a new listing or possibly taken off the market. Please check back again.
By Keith Kyle
March 2016 saw a pretty significant increase in the number of active homes for sale in Manhattan Beach. Whereas the prior 18 months had seen a high water mark of 77 homes for sale and had hovered between 50 and 70, the number of homes on the market took a fairly drastic upturn in March with over 100 homes active on the market. As of this writing in late April, that number didn’t show signs of changing as there are currently 101 homes, townhomes and condos for sale in this coastal community.
By Keith Kyle
Manhattan Beach is a tough market to buy a home in. In a town where starter homes start in the $1.5M range and builders are buying everything they can get their hands on, you can’t blame buyers for getting a bit excited about that rare foreclosure “opportunity”. The problem is that the market usually determines what something is worth and in this town, true below market “opportunities” are rare.
The home at 1410 Ardmore, located right near downtown Manhattan, certainly is a good example of something that’s too good to be true. Originally listed at $800,000 in early December, this was never a realistic price as it was more than 50% of what it should have been listed. Unfortunately buyers often think that because it’s a short sale, they just may get it at that price. In this case, it certainly didn’t take long for them to get an avalanche of offers and on January 6th the home not only went pending, but the price changed from $800,000 to $1,800,000. That’s a 125% price increase.
While there were endless buyers thinking they might just get the deal of the century, eventually the market dictates what homes are actually worth.
That doesn’t mean that great deals aren’t occasionally out there, but if it seems too good to be true….it is.
| Price: $1,800,000 Original Price $800,000
|SQFT(src): 1,605 (A)|
|PRICE PER SQFT: $1,121.50|
|LOT(src): 0.093/4,068 (A)|
|YEAR BLT(src): 1958|
|SUB TYPE: SFR|
|SALE TYPE: Short Pay|
While the market is always slow over the holidays and homeowners often take their homes off of the market for a few weeks, the inventory in Manhattan Beach has reached a new low. As of January 5th there are only 28 homes for sale in all of Manhattan Beach.
Compare that with a high of 189 homes for sale in May of 2010 and you can see just how drastic the market changes have been. Even the summer months (with traditionally the highest inventory as it’s a peak buying season) had 68 homes for sale during the months of July and August.
So what does this mean?…..well that depends on which side of the market you’re on
For sellers the demand is incredible. Prices are at peak levels, sellers are receiving multiple offers on homes priced at market value, buyers are willing to overlook the usual challenges such as busy streets, homes needing updates, and homes with ideal locations or potential are having some amazing bidding wars. See our recent post on the walkstreet, half lot home that sold for almost $600K over list price. If homeowners have given any thought to selling their home, regardless of area, condition and location, it’s an ideal time to sell.
For buyers the market has been incredibly challenging with some buyers simply taking a break from the madness. Builders are buying any home in Manhattan Beach that hasn’t been built in the past 25 years at big numbers, buyers are lined up in certain neighborhoods waiting for the next listing to hit the market (if the home even hits the market as pocket listings are becoming more common in this market) and entry level homes no longer exist.
In this market buyers have to be aggressive if they really want to own a home in Manhattan and need to be even more aggressive for premier properties. Knowing about homes the minute they hit the market, or even before is critical and understanding pricing can make all the difference.
Contact us if you are an eager seller, or frustrated buyer, as we have a deep understanding of the market and can certainly help.