Manhattan Beach Home Sales | December 2016 Market Trends

December Sales Overview

There were 24 closed escrows in Manhattan Beach CA during December of 2016.  By comparison there were 14 homes sold in Hermosa Beach and 43 each in South Redondo and North Redondo Beach CA.

Please note, the final end of year results for Manhattan Beach will be posted and discussed separately on this site.

(To skip the discussion of December sales and see all the closed listings, scroll down to the bottom of this page for full descriptions, pictures and more.)

This is a decline from the 33 sold during November and the 43 closed escrows in October. Not a very exciting trend line for Sellers, but don't panic quite yet because there are 27 properties in escrow.

With 74 available listings as of this post that puts us just barely within the 3 months of available inventory based on either a sold or under contract calculation that defines a Seller's Market (but just barely).

Pre December, the average sales price YTD has been $1,933,068 and the median price YTD is $1,570,000.  For December the average sold price was $1,990,188 and the median was $1,787,500.

Prices for December ranged from $687,000 for a 2 bedroom condo on Artesia Blvd up to $3,525,000 for a 1782 SqFt house on a walk street in 300 block that appears to have sold to a developer. Curiously the most expensive sale in Hermosa Beach for December also went to a builder. So maybe the developers know something the public doesn't as they seem to be very bullish and acquiring a number of lots right now.

Nineteen properties sold below the MLS list price, 3 over and 2 at the list price. For the properties that sold over the asking price, the DOM was 6. The average days on market for all properties for December was 36 but removing the 3 that sold for over asking we are at 40.

Before we look at the sales, here's a quick thought.

The Seller's Market we saw in 2015-2016 will continue through 2017 and many listings will continue to receive multiple offers and sell quickly over the asking price if they are priced and presented correctly.

Prices will continue to go up but at a slower pace than the previous two years. Zillow considers the market temperature in Manhattan Beach to be "Neutral" and I tends to agree.

So if you are thinking of selling your home in 2017, while the general market conditions are all in all still somewhat favorable, it will now be more important than ever before to make sure that your listing is exposed across many channels (including this one) with professionally shot photos and videos, and that your home shows really well or is staged. And price it to sell! That's clearly what the "market" is telling us.

Let's look at the activity by area.

Manhattan Beach Sand Section

There were five properties sold in the Sand Section ranging from $1,790,000 up to $3,525,000. My pick for favorite was 424 1st St. What a great location.

This is a 3 bedroom 2 bedroom 1262 SqFt house on a 3002 SqFt lot.

Here's how it was described in the MLS.

"Located in one of the most coveted pockets of Manhattan Beach, south of the Pier, a few blocks to the sand and next door to Robinson School. This is a rare opportunity to own the charming beach cottage you have always coveted. Well loved and maintained by its current owner for the past 40 years, this home features a two bedroom, 1 bath front house and a detached back house that has a bedroom, bath and the laundry area. The home has also has two separate outdoor spaces which are perfect for outdoor dining, entertaining or even maintaining a small garden."

Manhattan Beach Tree Section

There were five properties sold in the Tree Section during December. They were all Single Family Residences and ranged in price from $1,749,000 up to $2,275,000. Mt Tree Section pick is 2512 Pacific Ave which sold for $2,450,000.  Five bedrooms, 4 bathrooms, 3610 SqFt on a 4483 SqFt lot.

"This quiet, bright, classically styled Cape Cod home features an open kitchen/great room, large basement room with full bath and more space than most Tree Section comps. Solidly built with the utmost quality by Joe Drnek. This newer home offers nice details including wide plank oak flooring, coffered ceilings, tongue & groove and bead board accents, Dutch door and new kitchen countertops. Spacious master suite has vaulted ceilings, walk-in closet and delightful bath. Upstairs also features two bedrooms sharing a jack-and-jill bath. First-floor fourth bedroom now used as an office. Fifth bedroom is the large basement area, which you might use instead as a media room. Close to greenbelt & schools. Trends may come and go, but this one is a timeless classic."

Manhattan Beach Heights/Liberty Village

There were eight properties sold in this neighborhood and they were a mix of Single Family Residences and Townhome/Condos. The price spread was quite large ranging from $768,000 for a 2 bedroom condo up to $3,125,000 for a new construction over 5,000 SqFt 5 bedroom home on a 9495 SqFt lot. Here's the MLS description for 1321 21st St in East Manhattan Beach:

"This brand new Mediterranean inspired home marks the neighborhood with the quality offered by the reputable builders at California Custom Homes. A formal entry welcomes you to the open living room with dramatic 2 story ceilings that move the eye from the fireplace as a focal point to the rich wood beam ceilings and on to the open wine bar. Sliding doors invite the outdoors in from the private courtyard w/built-in fireplace. A richly appointed custom kitchen features a large kitchen island & pantry area while opening to the sprawling family room & on into the dining room. A wall of retracting panoramic doors provides an outstanding indoor/outdoor experience, effortlessly connecting the large backyard & outdoor kitchen to everyday living within. The master suite features a private lanai, fireplace, well planned built ins, vanity/dressing area and a beautiful custom closet. A master bath for the modern couple showcases his/hers vanity stations, over-sized shower & deep soaking tub. Offering amenites sought after by todays buyer: A/C, an intelligent home automation system, temp. controlled wine cellar, custom closets, en suite baths & more. Ideally located within easy reach of all award winning schools & most local commutes."

Manhattan Beach Mira Costa Neighborhood

There were six homes sold in this section of East Manhattan Beach including the lowest priced sale, which was the short sale on Artesia Blvd.

Just based on sheer size, you have to love the value proposition of 1561 Mathews Ave. How does a 5667 SqFt house on a 7450 SqFt lot for $2,710,000 sound? With 6 bedrooms and 7 baths built in 2014. We are talking about $478 a SqFt which is below North Redondo Beach prices!

Maybe that's why it sold in 4 days.

"Home is located in highly desirable area. Home features 6 bedrooms suites, 7 baths, 5667 sqfts based on Assessor data, 7450 sqfts lot size, double-door entry , high ceiling, Crown molding , recessed lighting, skylights, chandelier , formal dining room, Great room is bright and airy with high ceiling and beautiful fireplace, Gourmet kitchen with center island, sub zero refrigerator, built-in wine refrigerator , commercial stove with 6 burners, walk- in pantry, central vacuum system, convenient elevator in home, two bedrooms suite downstairs. Upstairs is the enormous Master bedroom double door leading to the balcony and look out to the backyard, fireplace , spacious walk- in closet , large ensuite with beautiful bathroom with vanity sinks. Custom Built-in desks create a perfect study or office area, Library , Laundry room with built in cabinet plenty of storage space. 3 attached car garage."