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Rare ocean view home and double lot at 121 34th Street in Manhattan Beach

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By Keith Kyle121-34th-Street-Manhattan-Beach-Walkstreet

For those rare buyers in which price isn’t much of an issue the home at 121 34th Street in the Manhattan Beach sand section is a very unique opportunity.   The beautiful 4609 foot Cape Cod inspired home is located at the 121 address but is being sold along with the small home/lot that sit’s just west which allows for a full double lot or future home site.  The home is being sold along with 117 34th Street and combined makes for a 5400 foot walkstreet lot located 2 homes from the beach.  Enjoy panoramic views as well as the fact that the bulk of those views can remain protected.  Truly a unique opportunity.

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Demand for New Construction Luxury Homes Grows in Manhattan Beach

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By Keith KyleNew construction homes in manhattan beach

While builders took significant losses during the downturn that started in 2006 and 2007, things have certainly turned around since then.  Builders are clamoring for A+ locations in Manhattan Beach and have once again even started purchasing lots or tear down homes in less desirable locations.  Almost regardless of location and lot size, two long term deterents, buyers are clamoring for new construction and builders can barely keep up.

Of the 16 homes built in 2014 or scheduled to be completed in 2014 that have sold or are in escrow they averaged only 20 days on market which is truly incredible.  With a median price of just under $2.7M it’s not hard to see why builders are making every effort to tap into this incredible demand.   These statistics are based only on the homes that went to market and many have been sold before even making it to the MLS as pocket listings and exclusive offerings.

The 5 current new construction homes come in with a median price of $4.7M.

With the coastal charm, proximity to downtown LA and Hollywood,  almost perfect weather, and nationally ranked schools, Manhattan Beach has become an even higher demand market for the luxury home buyer.

If you are looking for both on market and off market new construction homes in Manhattan and Hermosa Beach contact us at any point.

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(all data current as of 1/21/2021)

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

 
 

New Construction Homes in Manhattan Beach

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New Construction Luxury Homes in Manhattan BeachMB-Construction

With building and new construction homes in full swing in the luxury coastal community of Manhattan Beach, there seems to always be a newly built home coming to market.  As values have increased so dramatically for new construction, builders, developers and architects are going the extra mile to entice buyers.  These new homes feature high end finishes, the latest trends in home building, luxury amenities and are often in A+ locations.  Contact us for lists of current or upcoming new construction homes or visit our daily home updates to have new listings emailed to you.

Current New Construction

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(all data current as of 1/21/2021)

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

 
 

East Manhattan Home Prices Reaching New Levels

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By Keith KyleEast-Manhattan-Craftsman

Nowhere have we seen prices skyrocket in the South Bay over the past 16 months more than the luxury market of  Manhattan Beach.  In some areas we’ve not only returned to peak prices but well surpassed previous the high water mark for luxury homes.  Manhattan Beach’s most affordable area, known as East Manhattan, is no exception with formerly unheard of prices starting to become the norm.

East Manhattan Beach is the area of town east of Sepulveda Blvd and west of Aviation.  Due to being further from the beach, values have historically been considerably lower than other areas of this coastal community.  Excluding the truly rare oversized lots, prior to January 2014 there had only ever been 8 homes that had listed and sold over the $3,000,000 mark.

Oh how times have changed

As of April 20th there are currently 5 homes active on the market priced over this rare price point as well as 2 recent sales.  Time will tell if this is the new normal or just a matter of a vast number of luxury home sellers attempting to take advantage of this very favorable market, but either way the pricing trend in East Manhattan is a great indicator of just how incredible the market has been and continues to be.

Current Luxury Homes in East Manhattan Beach 

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Pocket and Off Market Listings in Manhattan Beach May Be Best Bet for Buyers

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By Keith KyleLivingrom-View-small

It seems that in the luxury home market of Manhattan Beach, CA the only way to successfully buy a home may be to find out about it before it goes on the market.  With the record low inventory and pent up demand for housing in this upscale coastal community we are seeing many listings see many listings selling almost immediately with multiple offers, often all cash and well over the list price.  So how does a buyer compete?  It may come down to just how well connected your realtor is…

In a normal market knowing about listings immediately is critical, but in this market that may just be too late.  It pays to find a successful local realtor that may have the inside track into “pocket” listings, or listings that haven’t come on the market yet.  We strive to help our buyers find a home through the traditional home search on the MLS, to customized daily updates, to actively seeking out off market listings.  If you would like our help please fill out the brief form below and we can start helping you with your home search.

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How Do Regular Home Buyers Compete In This Market

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By Keith Kyle

Every Monday I get together with some other agents and discuss the latest happenings in real estate and each week the news seems to become more discouraging for home buyers in Manhattan Beach.  Homes are selling well over asking, almost all sales involve multiple offers, often buyers are competing with all cash buyers or with builders, and not much that’s remotely priced close to market value lasts longer than a few days.

So how is a “regular” home buyer supposed to compete in this high end market.

The answer, unfortunately, is that until a significant increase in inventory starts to lessen the demand, a regular buyer with conventional financing just may have to wait it out.  What’s driving this is clear….absolutely record low inventory.  As of this article there are only 37 active homes for sale in Manhattan Beach.  Contrast that with the near peak of 284 homes for sale in February of 2009 and it’s not hard to see why each and every new listing is receiving so much interest. The chart below shows the active homes for sale in Manhattan Beach over the last 5 years and at this point…nobody is selling.

Why sellers aren’t listing their home in this market is an entirely different issue as everything from prices, to demand to terms, to interest rates favor them but that doesn’t seem to be making a difference.

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