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 at $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 all 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.

ARE YOU INTERESTED

in owning your piece

of the luxury beach lifestyle

BUILDING LOCATION

Keith Kyle has been a full time realtor in Manhattan Beach since 2005 and has been recognized as one of the top producing agents at Vista Sotheby’s every year since 2007

ADDRESS:

2501 N Sepulveda Blvd., Manhattan Beach CA 90266

Phone:

310-251-2344

E-mail:

CONTACT AGENT

DRE#01712785

Keith Kyle

REALTOR

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