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Manhattan Beach Sand Section Micro Market Update

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By Keith KyleManhattan Beach sand section homes

The sand section of Manhattan Beach is the epitome of luxury coastal living with spectacular beachfront “Strand” homes, walkstreet homes with stunning views and all within walking distance from the beach.  Here’s a quick recap of what’s going on in the Manhattan Beach sand section real estate market:

  • Active homes for sale – 14
  • Lowest list price – $1,325,000  –   420 29th Place
  • Highest list price – $9,999,999  –  4108 The Strand
  • Average list price – $3,379,786
  • Average price per square foot   –  $1,219.87
  • Average Days on Market   –  63
  • In escrow – 14
  • Total homes sold in 2014 YTD – 43
  • Average sales price – $3,057,174
  • Average price per square foot – $1,288.95

Manhattan Beach the Top City for Sales Over $1,000,000

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DQNews.com recently published an article on the dramatic increase in the number of homes sold in 2013 priced at $1,000,000 or more and Tree-Section-Craftsmantopping the list of $1.0M+ home sales was Manhattan Beach CA.   The list included all California cities and is not overly surprising given the very high demand for this luxury coastal market.  The average home price in Manhattan Beach was $1.86M.  “Demand is incredibly high and had been for all of 2013.  That trend appears to be continuing in 2014” according to Manhattan Beach realtor Keith Kyle.  As of January 29th there are 28 properties for sale in Manhattan Beach with all but 2 being priced over $1.0M and one of the two is priced at $990,000.

According to DQnews.com there were 439 homes sold in 2013 priced over $1,o00,000.  The local MLS showed 366 but many homes sold off market and these pocket listings accounted for the remainder.  Based on information pulled from the tax records there were 482 $1.0+ home sales out of 567 total sales which means that roughly 85% of all homes sold in Manhattan Beach in 2013 exceeded $1,000,000.  The 3 most expensive homes in 2013 were all located beach front on The Strand with the home at 3300 The Strand taking top honors closing $10,995,000.

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(all data current as of 1/26/2021)

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

 
 

Rarified Air – 2666 The Strand in Hermosa Sells for $14,800,000

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By Keith Kyle

There haven’t been too many home sales in Hermosa Beach topping the $10M mark but a recent sale of home located at 2666 The Strand reached a price point reserved for only the most unique and spectacular homes.  Oceanfront homes on The Strand come with some steep price tags, but the home at 2666 The Strand broke the record for on market sales as a whopping price tag of $14,800,000.   Pricing was unusual with it originally being listed in 2013 for $13.9M, then being raised to $14.2M then $15.9 during it’s 9 months on the market.   The home sat on a very unusually shaped lot and when the lot originally sold for $6,000,000 back in 2011 it wasn’t clear that this spec home would yield a profit. Needless to say that wasn’t the case as the market took a dramatic turn north and the builder did a fantastic job of taking full advantage of the unusual lot with over 70 feet of beach frontage.

Strand-Homes-Hermosa

 

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