The Strand market has been about the only slow home sale market in all of Manhattan Beach over the past few years. These ultra high end beachfront homes often have price tags that just don’t make them easy to sell. Homes can sit active on the market for years due to the exorbitant prices and the fact that there are not many buyers that can afford these highest end homes. Over the past few years several homes have been on the market for years with seemingly never ending price drops. 3808 The Strand was a good example being on the market two years, 5 different realtors and finally selling for just over $11M after initially being listed for $16,500,000.
The recent sale at 2316 The Strand may be showing a definite change in the market. There have been six beachfront home sales in the past 45 days which is pretty amazing. The home at 2316 was initially listed a year ago for $17,500,000 and then reduced to $16,500,000 before eventually being pulled off of the market. It ended up selling while off market for the full $16,500,000 price which is pretty amazing.