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What's Up in Manhattan Beach Real Estate, from $1M to $150M

Dec 04, 2023 04:40PM ● By Mb News Staff
Local real estate may not be generating all the headlines these days that we saw during the recent boom times. But there's a lot going on, and trends to watch. 

For regular updates on Manhattan Beach real estate, we rely on our sister site, MB Confidential, which has been publishing data-based market updates for more than 16 years, in all kinds of market conditions. (The author, Dave Fratello, is both publisher of MB News and a prominent local real estate broker with Edge Real Estate Agency.)

MBC has indeed delivered some interesting updates recently, including:

 "The Extinction of $1M Listings in Manhattan Beach" – This year looks like one that will pass without a sale at or under $1 million, just like 2022 did. 

In fact, the last time any publicly marketed property in Manhattan Beach sold for less than $1M, it was March 2021. 

Worth noting: All of the lowest-priced sales of recent years seem to be 2-bedroom condos/townhomes, mostly in East Manhattan along Manhattan Beach Blvd. See the full post for details.

 On a similar theme, MBC explored the question, "How Rare Are Sub-$2M SFRs in Manhattan Beach?" – We're going to spoil the surprise for you. The answer is that there have been 32 sales of single-family homes in Manhattan Beach under $2M this year, 21 of those east of Sepulveda – and none at all in the Sand Section. 

The story was prompted in part by a price cut at 1160 Shelley to just a little under $2M, specifically $1.985M, after it had been stuck on the market for a while. (Click the address to see the property online; it's listed by Tim Kelley of Tim Cullen Kelley, and displayed on MB Confidential.) On another recent occasion, when an older house cut under $2M, it got multiple bids and sold $100K over. 

 Thinking bigger? See "How About $150 Million for Triple-Lot Strand House?" – This post gives you a chance to see lots of photos and details about 212 The Strand, a 12,000-sqft. house that was built on land that once consisted of 3 separate lots.

The 15-year-old landmark home is now offered for rent for $120,000/month, but the owner spoke to the newspaper and said he'd be looking to sell for $150 million (!). (Click the address above for more details and photos. The current rental is listed by Eric Fonoimoana of Compass.) 

Yes, there's always lots going on in local real estate, from $1M to $2M to $150M, and quite a lot in between.

MB Confidential is unique in how it covers all the news about local homes and the market, while also offering a beautiful display of all listings in Manhattan Beach and all over the South Bay. Don't miss a thing by being sure to sign up for MB Confidential emails!


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