Even in a hot “sellers” market there are some homes that just exceed the norm. The recent sale at 822 6th Street shows that when somethng is priced well, it’s most definitely not a slow market. 822 6th Street in the hill section of Manhattan Beach was listed for $2,999,000 and sold for $3,575,000. The home itself was going to be a challenge for many buyers with a mid-century design and a layout that wouldn’t accomodate many of today’s buyers without some major changes but that didn’t slow the process down. From our understanding there were at least 7 offers, many all cash, and it sold for almost $600,000 over the initial list price.
February was a very slow month for closed home sales in Manhattan Beach with only 21 homes sold during the month. That’s the fewest home sales in a month over the past 18 months other than December 2018 and 2019 (which is typically very slow) Prices were solid as they’ve been over the past 18 months with the median list prices of $2,250,000 and a median sales price of $2,230,000. Average price per foot for sold homes in Manhattan Beach was $1174. Median days on market was only 39 which is another indication of a strong sellers market. The tree section of Manhattan saw the most home sales with 8. See the Manhattan Beach real estate stats for the past 15 months below.
February 2020 Home Sales and Prices in Manhattan Beach.
|MLS #||Type||Address||Price||$ Per Foot||Bed/Bath||Sq Feet||Year||Sold Date|
|19537834||CONDO||2404||Manhattan AVE #A||$2,300,000||$1,130.22||3/2,0,1,0||2035/A||1983/ASR||2/14/2020|
|19491738||TWNHS||1520||Manhattan Beach Bl #B||$625,000||$570.78||2/1,0,1,0||1095/||1966||2/26/2020|
By the Number – Real Estate Stats for Manhattan Beach CA
The two homes at 120 and 124 6th Street which are being sold together, just went into escrow. Although we’re not currently aware of the sales price, the 2 homes were listed for $12,650,000. While the property is clearly being sold for land value the home at 120 is a duplex on a 2,687 foot lot. The adjacent property is a workable single family home on a 2,700+ foot lot. The combined lots offer a pretty unique and spectacular walkstreet location for a true legacy type home. 6th Street is an extremely high demand walkstreet with an ideal south sand section location.
120 & 124 6th Street, Manhattan Beach
It was definitely a quiet month for home sales in Manhattan Beach with only 13 homes selling all month. Compare that with 36 in December, 43 in November, 23 in October and you can see how slow it was. See the chart at the bottom of the page to see the Manhattan Beach home sales and listings for the past 13 months. The median list price was $3,195,000 with a median “sold” price of $3,100,000 indicating it’s still a fairly solid seller’s market. The median price per foot was $1,069.25.
The highest priced sale of the month was $6,650,000 for a 2012 built single family home on a walkstreet at 128 18th Street.
January 2020 Manhattan Beach Home Sales and Prices
|Type||Address||Price||$ Per Foot||Bed/Bath||Sq Feet||Year||Sold Date|
|SFR||206 N||DIANTHUS ST||$3,130,000||$710.72||3/3,0,0,1||4404/A||1989||1/3/2020|
|CONDO/A||4216||Highland AVE #H||$1,575,000||$1,069.25||3/3,0,0,0||1473/A||1989/ASR||1/13/2020|
Listed at a price fairly unheard of for any location other than the beachfront homes of The Strand, 202 Ocean not only came out at a huge list price of $12,750,000 but surprisingly went under contract quickly. If the home sells anywhere close to the list price of it will really set a new standard for the market.
Although the home isn’t on the Strand it’s pretty ideally located just one home back and in the south end of the Sand Section which is always valuable territory. The home offered a corner walkstreeet location with great south and west facing views from every level. Due to the location the current views are basically unblockable which is a rarity for anything other than beachfront homes on the Manhattan Beach Strand. The home offered an impressive 5 bedrooms, 6 baths and almost 4,200 square feet.
202 Ocean, Manhattan Beach
According to online news and opion company 24/7 Wall St., Manhattan Beach was the #1 Best City to Live in the United States for 2020. According to the site:
24/7 Wall St. created a weighted index of over two dozen measures from the U.S. Census Bureau, the FBI, and other sources to identify the best city to live in. We considered all boroughs, census designated places, cities, towns, and villages with at least 8,000 residents.
They claim to have “created a weighted index of 25 measures that fall into one of four categories: affordability, economy, quality of life, and community” to come up with the list….and Manhattan Beach was #1. Click to see the actual article and here’s the page with Manhattan Beach mentioned.
According to 24/7 Wall St.
- Ranking: 1
- Population: 35,573
- Five-year population change: +0.7%
- Median household income: $150,083
- Five-year average unemployment rate: 5.3%
Manhattan Beach is one of several California cities to rank on this list. Located on the Pacific Coast about 20 miles from downtown Los Angeles, Manhattan Beach residents have access to a major urban area and miles of ocean coast. Due in part to its high desirability as a place to live, real estate in Manhattan Beach is expensive, as is the overall cost of living. People living there tend to be relatively affluent, with over half of all area households reporting incomes over $150,000 a year.
As is often the case in wealthy areas, serious crimes are relatively uncommon in Manhattan Beach. The city’s violent crime rate of 158.2 incidents per 100,000 people is less than half the national rate of 380.6 per 100,000.
Here are the top 10 U.S. cities to live in per 24/7 Wall St.:
- Manhattan Beach, California
- Winnetka, Illinois
- Hanover, New Hampshire
- Highland Park, Texas
- Piedmont, California
- Paradise Valley, Arizona
- Solana Beach, California
- Newport Beach, California
- Mercer Island, Washington
- Greenwood Village, Colorado