What's Hot in MB Real Estate (5/8/15)
May 08, 2015 06:59AM ● By Jeanne Fratello
Is the Manhattan Beach real estate market hot? Absolutely. But is it still possible for a house to go under asking price? Absolutely.
As Manhattan Beach Confidential reports, at least two sellers took discounts off their asking price in the past month.
One, at 1801 Palm (5br/5ba, 3900 sqft.), a corner-lot house in the Tree Section, was listed early this year at $3.150M and closed after 67 days on market at $2.900M – representing 8% off (and $250K down) from the start price.
Similarly, a Mediterranean townhome at 3101 Alma (3br/4ba, 1870 sqft.) launched at $2.395M but closed with 54 days on market at $2.150M - a solid chop of 10% from list.
Over on Oak Street, however, it was another story. In the second half of April, three sales of smaller, older homes all closed while yet another was auctioned off – all hitting the $1.3M-$1.4M+ range - and almost certainly marking an all-time high for lots on that particular Tree Section street, the closest to Sepulveda.
Overall, the market looked like this for the period ending 5/1/15:
As Manhattan Beach Confidential reports, at least two sellers took discounts off their asking price in the past month.
One, at 1801 Palm (5br/5ba, 3900 sqft.), a corner-lot house in the Tree Section, was listed early this year at $3.150M and closed after 67 days on market at $2.900M – representing 8% off (and $250K down) from the start price.
Similarly, a Mediterranean townhome at 3101 Alma (3br/4ba, 1870 sqft.) launched at $2.395M but closed with 54 days on market at $2.150M - a solid chop of 10% from list.
Over on Oak Street, however, it was another story. In the second half of April, three sales of smaller, older homes all closed while yet another was auctioned off – all hitting the $1.3M-$1.4M+ range - and almost certainly marking an all-time high for lots on that particular Tree Section street, the closest to Sepulveda.
Overall, the market looked like this for the period ending 5/1/15:
- 56 active listings as of 5/1/15 (-1 from 4/15)
- 49 SFRs (flat)
- 7 THs (-1)
See the inventory list as of 5/1/15 here, or see the MB Dashboard for up-to-the-minute data.
Active listings by region of Manhattan Beach include:
- Tree Section: 15 actives
- Sand Section: 17 actives
- Hill Section: 5 actives
- East MB: 19 actives
For a report on closed sales by region of Manhattan Beach, see the spreadsheet here: "MB Pending/Sold as of 5/1/15."
And as always, for the latest news on Manhattan Beach real estate happenings, see Manhattan Beach Confidential.
