Manhattan Beach Real Estate Market Update : November 2017

YEAR TO DATE AND YEAR OVER YEAR TRENDS



Through the first 10 months of 2017, 360 properties have closed escrow in 90266 averaging 36 per month. During the same period in 2016, there were 334 closed sales and in 2015 there were 306. So sales along with prices have been trending upward.

Calendar year 2016 finished with 391 sales and there were 358 homes sold in 2016. With 49 homes currently under contract 2017 will almost certainly surpass 2015-2016 and we are on track for the best results in the last 3 years.

Where this gets interesting, at least for me, is looking at the overall sales in relation to the sales prices overall in different segments and categories.

For the first 10 months of 2017 the average sales price in Manhattan Beach was $3,291,546 and the median was $3,100,000.

The same time period in 2016 had a median price of $877,500 and an average price of $901,493. In 2015 the median through 10 months was $825,000 and the average sales price was $838,679.

So, to recap looking at the first 10 months in 90266:
  • 2015 Median Sales $825,000
  • 2016 Median Sales $877,500
  • 2017 Median Sales $950,000
The related 10 month unit sales were:
  • 2015 Closed Escrows 458
  • 2016 Closed Escrows 408
  • 2017 Closed Escrows 447

October Manhattan Beach Sales

  • 26 Closed Sales
  • Median sales price $3,100,000
  • Average Sales Price $3,291,546
  • Average Days on Market 75
  • 11 Listings in Escrow 30 Days or Less
  • 7 Homes Sold At or Over the List Price
  • 19 Listings Sold with Price Reductions
  • Highest Priced Sale $1,730,000
  • 21 Single Family Residences Sold
  • 4 Condos / Townhomes Sold
  • 1 Duplex
  • 6 New Construction Homes Sold
MLS Area 142 (Manhattan Beach Sand Section) had 6 sales and remains extremely hot as does MLS Area 143 with only 8 sales.  The Hill Section, MLS Area 144 had 2 sales as did MLS area 155, Manhattan Village.

In East Manhattan Beach, there were 2 sales in MLS Area 146 (Heights Liberyt Village ) and 6 in MLS Area 147. So fairly balanced throughout the town.

Manhattan Beach New Construction Homes

New construction is the driver for all pricing as presumably no one will pay more for a resale than a comparable new home. All things being equal that is. Here's some of the new construction that stood out.

1457 18th St, Manhattan Beach 90266 MLS SB17091633


Combining engaging coastal design with a great family neighborhood, this new build by Jake Cleland and DC Construction & Development, boasts over 4,500 square feet of custom quality, coastal charm and luxury finishes. A wonderful layout featuring 5 spacious bedrooms & a home office, 4½ beautiful bathrooms, eye catching premier chef’s kitchen, plus remarkable living spaces inside and out. Engaging curb appeal….from the coastal siding, stacked and flagstone stone details, to the attractive landscaping….all draw you in the front door. This remarkable family home features top of the line finishes throughout including wainscoting, crown moldings, lots of storage and custom woodwork. Stunning 8” wide planked white oak hardwood floors and eye-catching ceiling details only begin to describe the first floors fine points. Living room, formal dining room, powder bath as well as the well-appointed office, leads you to the chefs’ kitchen with oversized island, custom tile and stone, butlers pantry with wine refrigerator and pantry. A full compliment of professional Thermador appliances including 6-burner range, built in refrigerator, and dishwasher. A casual dining area opens to the large great room, which overlooks the outside kitchen and fireplace in covered living spaces surrounded by beautiful landscaping. There is even room for a pool.

Listed for $3,565,000 and sold for $3,325,000.

413 28th St, Manhattan Beach 90266 MLS SB17176735


An highly perched corner lot lends an airy openness to this brand new contemporary rear unit townhome located in a quiet beach enclave just a few blocks to the ocean. 4 Bedrooms and 3.5 baths, with 2,550 square feet of living space, are enhanced by smoky white oak hardwood floors and espresso cabinetry. The spacious third story deck offers surprisingly big ocean views and large pocketing sliding doors, with which to enjoy the indoor outdoor ambiance. The massive island kitchen is a brilliant statement of light and dark contrasts: with white uppers and espresso lowers topped with white quartz. A complete array of Thermador professional stainless steel appliances compliments the culinary experience. You will love the truly unique leatherized quartzite countertops in the great room. A three-stop elevator, integrated AV, Panasonic solar panels and electric car hook-ups, 3-4 car parking. The corner lot provides for an ample private front yard with ocean views. This is quite singularly the nicest new townhome for this price point anywhere near this price in Manhattan Beach.

Manhattan Beach Sand Section Sales


1912 The Strand, Manhattan Beach 90266 MLS SB17026827


Let’s face it…it’s all about the land and in this case, it’s as solid gold as that sunset out front every night. Sitting on the bluff above the beach at the “just right” distance from downtown, with views of the iconic Manhattan Beach Pier, it’s a location that is as desired as it is rare. That’s right…it’s been 14 long years since the last interior lot value property on this famed stretch of Strand between 16th and 20th Street hit the market. But it doesn’t stop there, because sitting on this premier lot, is an approx. 3,000s.f. 4 bedroom, 3.5 bath home that exudes beach charm from every room. Translation… you can knock it down or lovingly update this beauty… your choice … because the you get the house part for free. And if that’s not enough, there is a large sheltered brick patio perfect for entertaining between the garage and the main house. On top of the garage… is a charming 1 bedroom 1 bath rental unit to round out this unique Strand opportunity.

Sold for $11,300,000. Land value.

Manhattan Beach Tree Section Sales


Interesting that two properties show zero days on market and one shows 1. That means they were most likely sold off market through closed network group. Not quite sure how that serves the seller - where is the market exposure, but it seems to be a trend in Manhattan Beach.

Curiously 2309 Walnut shows sold off market and at a lower price. 750 26th at least shows the asking price as the sales price. 632 29th shows sold in one day and bid up. Hmnn.

Manhattan Beach Hill Section Sales

Only two sales here and both on Duncan. Go figure.

1025 Duncan Pl, Manhattan Beach 90266 MLS SB17143943


This oasis in the Manhattan Beach Hill Section exudes cool with its subtle reach into reflective modern minimalism. Indoor/outdoor resort style elegance is perfectly suited for both relaxation and entertaining. Strong architectural lines, organic textures and brilliant light combine for an atmosphere of tranquility and luxury. The property conveys hints of traditional far eastern architecture where the delineation between public and private space begins at this property’s gates. The transitional floorplan ensures visibility throughout the home, preserving fantastic views from all angles. With the main entertaining rooms at ground level, there is potential for any room to be easily accessed from the yard area. On the main level you move from formal dining area, to an eat-in kitchen to an island concept open living room, a main level bedroom suite, and on to the master suite. The upper level finds gorgeous views from the family room with wet bar, an ocean view den/office area that could easily convert to a formal 4th bedroom, & large ocean view lanai with outdoor fireplace. The minimalist kitchen features flat-panel wood cabinets, a fireplace and high end stainless steel appliances. The kitchen is customized with a Gaggenau modular cooktop offers both gas & electric cooking as well as a built-in steamer, double ovens & warming drawer. An outdoor kitchen and dining suite are all under cover offering year round enjoyment of al fresco dining on a whim. Ready for a 3 stop elevator.

931 Duncan Pl, Manhattan Beach 90266 MLS SB17175119


Take your idea of a private beach house up-market to the sought after Hill Section. Here you discover a brand-new luxury residence that is confident in its design & intent. An outstanding custom project built by Steve Lazar of Design + Build by South Swell, this home exudes a thoroughly functional aesthetic while showcasing ocean views. The home presents an updated design approach that is attainable, functional and adaptable to changes over time in a family’s lifestyle, while remaining beautiful, bold, & modern. The ultra-private concept of the home is juxtaposed by expansive views and carefully planned open spaces. Continual, direct access to the outdoor living environment offers a true extension of the usable square footage of the property. With 1,285 sf of private outdoor spaces, including an ocean view dining lanai, this home offers one of the best ways to enjoy coastal living. The formal entertaining room is flanked by accordion doors that open wide to the ocean breezes without compromising privacy. Living room & kitchen areas are effortlessly connected & easily transition from formal to casual within a few steps. The lower family room/recreation area hosts an entirely different set of indoor entertaining options. 3 bedroom suites center around a hub of daily gathering. Also, there is an adaptable media room/home gym/office/studio, customizable wine cellar, & a beach room/work room off the 3 car garage. All within walking distance to the greenbelt, Robinson & the beach.

Manhattan Village Sales


Manhattan Beach Heights/Liberty Village Sales


Manhattan Beach Mira Costa Sales


If you are Buying or Selling in Manhattan Beach call Ellis Posner at 310 975 5139.

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