Sunday, December 4, 2016

Manhattan Beach CA November 2016 Property Sales

Manhattan Beach November 2016 Overview

"So, how's the market doing?" is probably the most common question Realtors hear.

In Manhattan Beach, as we wind down 201, the market is very strong. The inventory build up seen earlier in the year has balanced itself and we still remain in a very stable Seller's Market.

There were 33 closed escrows in Manhattan Beach CA 90266 during November of 2016.

If you would like to skip the commentary and just see what sold, scroll down to the bottom of this page for full descriptions, pictures and more.

This is an decrease of almost 25% from the 41 homes sold in 90266 during October.

But before you hit the panic button (or jump for joy if you are a buyer), as of this posting there are 37 properties in escrow and it is fair to assume most of them will close during December.

With only 76 available active listings in Manhattan Redondo Beach (which is a huge drop off from earlier in the year), this is still a fairly strong Seller's Market with around 2 months of inventory on hand.

To out things in perspective, during November,  there were 39 closed escrows in North Redondo Beach, 16 in Hermosa Beach and 32 in South Redondo Beach CA.  Considering that Manhattan Beach sells at a higher price point, the market is certainly solid.

Year to date through November in Manhattan Beach there have been 367 closings putting us at an average run rate of just about 33 properties per month.  In that regard, November was totally on par with the YTD run rate.

The average sales price YTD has been $2,426,902 with a median price of $2,087,500. These numbers, as are all others quoted in this post, are properties reported as sold through the MLS and do not include private sales.

For the month the average sales price was $2,225,187 and the median was $1,900,000. Both are below the YTD numbers.

If you are a home owner thinking of selling those numbers are certainly not well received. For buyers possibly very encouraging.

You may have heard the statistic that Manhattan Beach has more $1M and higher homes than anywhere else in CA and that certainly held true for November.

The lowest priced sale for November was $1,070,000 for a two bedroom 783 SqFt SFR on Harkness.

The highest priced sale was $4,650,000 for a 2016 built SFR on John St (listed by Teles Properties).

Twenty one properties sold below the MLS list price with the balance selling for the last list price or over. That certainly shows a major disconnect between where sellers or their agents think the market is at and what buyers will actually pay.

And for those counting, the average days on market for November was 46.

Let's look at the activity by area. The Multiple Listing Service (MLS) separates into 6 separate areas as discussed below.

Monday, November 28, 2016

Tree Section Homes for Sale | Manhattan Beach CA

About the Manhattan Beach Tree Section

The Manhattan Beach Tree Section is located west of Sepulveda Blvd, south of Rosecrans and, north of Manhattan Beach Blvd and stretches to the border of the Sand Section to the west.

In the Multiple Listing Service this neighborhood is defined as Area 143.

So why is it called the 'Tree Section"? Is it all the trees or the street names.

Even though you find far more trees than other parts of the Beach Cities,  the "Tree Section" moniker derives from the names of the streets like Elm, Oak, Poinsettia, Palm, Laurel, Maple, Pine, etc.

The Tree Section is one of the most desirable neighborhoods in Manhattan Beach.

You can actually have a bit of a back yard and still  can walk to the beach and downtown without crossing a major street. This area feels safe and quiet, and a bit rural with all the trees. You’ll notice that many of the streets have no curbs or sidewalks. Street parking is free and usually plentiful.

Just like the rest of Manhattan Beach, the Tree Section is in transition. You will find a few original bungalows built in the late 40’s to mid 50’s. Most have been remodeled over the years to add a second bath or a family room or to update the kitchen.

In the last 20 years, many of the original Manhattan Beach homes have been replaced with new, multi-story homes designed to maximize the livable square footage permitted on the lot.

The majority of elementary school students in the Tree Section attend Pacific. Those living in the north-west section attend Grand View.

Saturday, November 26, 2016

Manhattan Beach Strand Homes for Sale

What is "The Strand"

A paved path, called The Strand, runs along the coastline from Torrance Beach in the south approximately twenty miles north to Santa Monica and stops at about Pacific Palisades. There are beachfront ocean view homes along The Strand in Manhattan Beach and Hermosa Beach CA.

Northward from Manhattan Beach there are no beachfront homes in El Segundo CA but you will find beachfront housing in Playa Del Rey and other coastal communities.

In South Redondo Beach, the closest that you can own a home to the oceanfront is on "The Esplanade" which in general is set further back than The Strand. The bike and walking path continues after the Redondo Pier but not the houses.

People may confuse The Strand with a "boardwalk." The Strand is not considered a boardwalk, because it is not made out of wood boards.

So if it is still not clear where the Strand is, just head down to the end of Manhattan Beach Blvd. You see the path with the amazing houses directly facing the ocean? Those homes are on The Strand.

Other than the absolutely un-obstructable ocean views, what makes Strand homes so unique is that they literally are "on the beach". Other beachfront property in LA  County is not quite this much on the beach may be further set back - with the exception of Malibu CA where homes may actually have waves breaking beneath the houses.

In any case, this is some of the most desirable and expensive real estate in Southern CA. While many buyers prefer to be south of the Manhattan Beach Pier and some even prefer North Hermosa "between the Piers" to let's say El Porto in Manhattan Beach, let's face it, it's all good. Very good.

Real Estate on the Manhattan Beach Strand, whether it is land value or an actual home you can live in, is by far the priciest and most desirable in the Beach Cities. Well let's make that the South Bay.

After 10 closed Strand sales in total in 2014, 2015 and year to date in 2016,  there are now nine properties listed in the MLS and two in escrow. Land value and SFRs for what is currently available start at $6.9M and top out at $28,500,000.

So with just about enough Strand listings available for sale today than over the past few years, a few things came to mind not the least of which is "when is that next Powerball Drawing?".

Manhattan Beach Strand Homes for Sale

These are the current listing of homes for sale on the Strand.

Friday, November 25, 2016

1622 8th St Listed by Teles Properties

1622 8th St Manhattan Beach CA 90266

A unique opportunity for a buyer to acquire and modernize one of the most expansive homes in East
Manhattan Beach without having to incur the substantially greater cost of a complete ground-up construction project of this size. With 5 oversized bedrooms, including an absolutely enormous master suite, plus a den (with potential for a 6th bedroom), 4 full baths, and 5,008 sq. ft. of living space on a full-sized 7,500 sq. ft. lot there isn’t much you couldn’t do with this property. You have to see the size of this home to believe it. Located in the award winning Manhattan Beach school
district and only minutes from the beach, shopping, restaurants, movies and more.

Friday, November 11, 2016

Manhattan Beach Market Report

Here's the Data Realtors Use for CMAs

Have you ever wondered what goes into the CMA your Real Estate Agent gives you when you are presented with the "comps" for your home?

Let me share a secret with you, it is very subjective (dare I say arbitrary) and including or excluding one or 2 properties can make a world of difference. 

You can take this Market Report, which is a 60 day snapshot in time and modify it to create your own or contact us and we'll do it for you.

What you will see are the newest active listings, what is under contract (ie in escrow) and recently sold properties for Manhattan Beach. This can be run for any of the neighborhoods i.e.Sand Section, Hill Section, Tree Section, etc. and any property type, age, size or whatever.

These results are "live" and will update in real time whenever you revisit this page. If you are looking at this report on your phone scroll to the right to see all the properties.


Saturday, October 29, 2016

How to Sell Your Manhattan Beach Home for the Highest Price

Selling Your Home in Manhattan Beach CA

If you are planning on selling your home in Manhattan Beach CA there's no question that you want to get the highest price possible.

While there are many things no home owner has control over such as interest rates, the global economy, the political environment and more, there are three things that you can control:
  • Price
  • Timing
  • Presentation
This article will deal with pricing and subsequent posts will follow up on timing and presentation.

Friday, October 28, 2016

Manhattan Beach Real Estate MLS Search Homes for Sale

Manhattan Beach CA Homes for Sale

Manhattan Beach is comprised of a number of very distinct neighborhoods and then further micro neighborhoods within those. The first major delineation is whether properties are found East or West of Sepulveda Blvd (PCH is Hermosa Beach and South Redondo Beach). The Multiple Listing Service (MLS) actually does a very good job of defining the areas in a way that follows local custom.

Thursday, October 27, 2016

Manhattan Beach Real Estate for Sale | Strand or Walkstreet

Manhattan Beach Sand Section Real Estate

Strand or Walkstreet

All things being equal this is not a bad dilemma to have. Should you buy a home on the Strand or a Walkstreet west of Highland?

On the Strand you have glorious ocean views as far as the eye can see but lots of people walking by your house. Unless money really is no object, you may trade one of the most desirable addresses in LA for age, size or condition.

On the Walkstreet you most likely will have some amazing ocean views and more privacy (for the most part. And let's face it, those streets have a certain charm.

128 18th Street Manhattan Beach CA (above) is a perfect example of great value in a Walkstreet.

Monday, October 24, 2016

Manhattan Beach Sand Section New Homes 2016 Construction

Manhattan Beach Sand Section New Homes 2016 Construction

308 3rd St is a spectacular Doug Leach designed custom beach plantation townhome consisting of roughly 2,675 SqFt 4 beds and 3.5 baths, 2 car garage parking plus 2 additional parking spots, 3 stop elevator and multiple spacious terraces. conveniently located between the piers in South Manhattan Beach in the Sand Section on a quiet, prime southeast corner ocean view lot, just 2 blocks to the beach, and a short, leisurely walk to all of downtown's retail stores, shops, spas and numerous restaurants.

The finishes emulate designer living with high-end fixtures, luxe materials and a salty beach color palette. The top floors boast a large open living space connecting the kitchen, great room & dining area. The entire level is flooded with natural light by skylights and bi-folding door systems. The high ceilings are finished with tongue and groove wood, and there's unblockable beach views and mountain views of Palos Verdes and the Hill Section. The mid level features a romantic master suite with a luxurious bathroom and walk-in closet, a lovely guest bedroom suite and generous laundry room with ample storage. The 1st floor features 2 airy guest bedroom suites pre-wired for all one’s AV needs and have the versatility of converting to a large beach room. Professionally designed interiors by Noelle Parks with no expense spared, each home features French White Oak hardwood floors, Jeld-Wen doors and windows, artistic wood paneling and molding details, designer fixtures and finishes and large Isokern gas and wood burning fireplaces.

Sunday, October 23, 2016

Most Expensive Manhattan Beach Tree Section Listing

Manhattan Beach Tree Section Architectural
The Manhattan Beach Tree Section is located west of Sepulveda Vlvd, North of Manhattan Beach Blvd, South of Rosecrans and East of the Sand Section. It is primarily comprised of Single Family Residences.

Many of the homes are within walking distance of downtown or the beach. Needless to say these properties are highly desirable. Selling prices are higher than East Manhattan Beach but usually lower than a comparable sized home in the Hill Section.

There are a few properties that actually also have ocean views, in particular those the furthest west.

One such example is 610 12th Street.