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Manhattan Beach Sand Section | Q4 2022

After a high-flying couple of years, gravity has come to the Sand Section real estate market.

The number of homes sold in the Sand dropped to 102 for the full year, far lower than in 2021,and 26%below the 5-year average. The shortage of sales hit fast.It was a citywide concern.

Median Prices are up, however, by 13% in the Sand, and by a modest 3%citywide.Upbeat median price data may conceal a true reversal in prices that is happening now. We see it on individual sales, rather than in full market data.

Sellers in this market will be wise to do everything right.We hope to see the market stabilize in the first half of 2023.

For daily updates on the local market, see MBconfidential.com.

Recent Sales In Manhattan Beach Sand Section

121 15th St

A 2005 ocean-view townhome downtown. Sold on its 3rd listing of 2022, but for $200K less than was paid in Aug. 2021. SOLD: $3.900M

2400 Alma Ave.

Walkstreet corner half-lot 1960s house with some updates. New construction next door. Sold $100K over asking. SOLD: $2.300M

3612 Ocean Dr. #3

Upgraded 2br townhouse with ocean peeks. SOLD: $2.112M
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Manhattan Beach Sand Section | Q3 2022

With a median home price now approaching $4 million, the Sand Section continues to power Manhattan Beach real estate.

True, the number of sales in the past 12 months (132) is down almost 30% year-over-year. But that figure is absolutely typical for the area over a 5-year span.

With relatively few homes available, we still see many listings moving pretty fast. Prices don’t seem greatly impacted now, despite higher interest rates and some slowing trends in the real estate market as a whole. Sellers only need one buyer!

There’s always demand for homes by the water, and with ocean views. Buyers looking for second homes and vacation rentals – including a few of our clients – remain a force in the market.

For daily updates on the local market, see MBconfidential.com.

Recent Sales In Manhattan Beach Sand Section

2400 Alma Ave.

Corner lot 4 bedroom, modern style townhome with big ocean views. Custom built in 2012. Sold July 2022. SOLD: $4.550M

209 15th Street.

Compact, 2-story 1960s SFR with very modern upgrades and style. Good views and downtown location. Sold Aug. 2022 SOLD: $2.885M

1900 The Strand

Ultra prime corner location on the waterfront. Home built in 1980. Sold Aug. 2022. SOLD: $15.574M
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Manhattan Beach Sand Section | Q2 2022

Most indicators for the real estate market in the Sand Section remain positive and support a seller’s market. The median price is up 18% in one year, while the number of homes available has dropped. Buyers have to compete when a great home in the Sand Section hits the market.

Homes that sell these days sell faster than almost any time before, with 14 days on market (median), far less than average for the past 5 years.

The world-famous Strand has not been as busy this year, with just 4 closed sales so far. Two of four listings priced over $20M have quit. Six more Strand homes under contract by early July.

Typical buyers do face negative circumstances with higher interest rates, which limits affordability and could impact prices down the road. For now, data don’t show a downshift.

Recent Sales In Manhattan Beach Sand Section

1504 Highland Ave.

SpectUnique, landmark “A-frame” home very close to downtown. Ocean and pier views, plus lots of history. Sold May 2022. SOLD: $2.625M

301 Homer St.

Corner-lot, oversized newer townhome with ocean views. Quiet South End of town. Sold June 2022. SOLD: $4.200M

323 29th St.

New construction on a North End walkstreet. Three levels with ocean views. Sold April 2022. SOLD: $7.100M
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Manhattan Beach Sand Section | Q1 2022

From the highest-end sales on The Strand down to cottages sold for land value, the Sand Section continues to impress. The area has the 2nd-highest median home price in Manhattan Beach at $3.565M, a 15% increase in only one full year.

As the Spring market takes shape, the Sand Section hosts about half the inventory of homes for sale in the city, including 6 homes on The Strand and several priced over $5 million.

Most buyers just can’t find homes easily, and are pursuing off-market deals where possible. Jumps in mortgage rates are adding to the challenges for buyers.

It’s a seller’s market in this popular seaside district, but nothing is easy or automatic. If you’re thinking of selling, consult EDGE for the best strategy to bring you top dollar.

Recent Sales In Manhattan Beach Sand Section

4320 The Strand

Spectacular 5-level custom build (2019) on a corner lot. Amazing details, spaces & views. Sold March 2022. SOLD: $10.755M

528 23rd St.

Custom remodeled cottage on a treasured street. 3 bedrooms and just under 1500 sqft. Sold March 2022, off-market. SOLD: $3.100M

532 4th St.

Two bedroom South End cottage in good condition, but sold for land value. Multiple offers. Sold March 2022. SOLD: $2.930M

Learn More About Manhattan Beach Sand Section

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Manhattan Beach Tree Section | Q4 2022

After a high-flying couple of years, gravity has come to the Tree Section real estate market. 

The number of homes sold in the Trees dropped to 90 for the full year, one-third lower than in 2021, and 22% below the 5-year average. The shortage of sales hit fast. It was a citywide concern.

Median prices are up, however, by 17% in the Trees, and by a modest 3% citywide. Upbeat median price data may conceal a true reversal in prices that is happening now. We see it on individual sales, rather than in full market data. 

Sellers in this market will be wise to do everything right. We hope to see the market stabilize in the first half of 2023. 

For daily updates on the local market, see MBconfidential.com.

Recent Sales In Manhattan Beach Tree Section

641 27th St

Ultra pretty new construction with basement (almost 4700 sqft.). Sold within 2 weeks but $249K under asking. SOLD: $5.900M

3108 N Poinsettia Ave

Very upgraded but midsized house (about 2200 sqft.) on a great block. Sold nearly $1 million higher than 2019 purchase price. SOLD: $3.200M

3616 Elm Ave

Remodeled 3br on corner at Rosecrans. First tried to sell for $2.300M but re-listed for $1.599M. SOLD: $1.653M
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Manhattan Beach Tree Section | Q3 2022

While the real estate market seems to be slowing across the South Bay and SoCal, the Tree Section is one of the healthiest, busiest sub-markets in the region.

The simplest reason why is that the Tree Section has more of what the typical buyer wants: A 4-bedroom (or more) home with ample space for a family. The going rate for such homes now ranges from around $3.5 million to nearly $5 million for a resale, much more for new construction.

The number of sales in one year, while slower, still is not dipping as much as we see citywide. Well-prepared, well-priced homes are moving fairly quickly. Another good sign: Builders are still looking for land for new projects. We get these calls all the time. They’re betting on the future for the Tree Section.

For daily updates on the local market, see MBconfidential.com.

Recent Sales In Manhattan Beach Tree Section

849 12th Court

Simply beautiful 2019 build on a quiet street right near Pacific Elementary. Nicely presented, too. Got asking price. Sold Sept. 2022. SOLD: $4.750M

600 26th Street

Freshly renovated home with a mid-century modern type of vibe. Just 1400 sqft. with appealing outdoor spaces. Sold Aug. 2022. SOLD: $2.750M

595 35th Street

Traditional style, 2004 build on street-to-alley lot near Sand Dune Park. Super charming. Sold July 2022. SOLD: $4.085M
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Manhattan Beach Tree Section | Q2 2022

It’s rare to see the Tree Section’s median home price exceed that of the whole city of Manhattan Beach. The Tree Section median is now at $3.149M, about 1.2% higher than the citywide median. Prices also are up 12% year-over-year in the Trees.

We’re seeing these price trends amid fewer listings, and fewer sales. Buyers have to compete when a great family home in the Tree Section hits the market.

New construction homes of typical size are now trading in the $4-$5 million range, while larger homes with basements are hitting $6 million or more.

Buyers do face negative circumstances with higher interest rates, which limits affordability and could impact prices down the road. For now, data don’t show a downshift.

Recent Sales In Manhattan Beach Tree Section

763 29th St

Oversized, remodeled home on a great street, with large basement and outdoor living spaces. Edge represented Buyers. Sold June 2022. SOLD: $4.450M

668 35th St.

Corner-lot original home needing repairs/remodeling. Street-to-alley lot Sold June 2022 near land value. SOLD: $2.690M

2905 N. Poinsettia Ave.

Refreshed 2000-built Cape Cod with large, private, green yard. One of the absolute best streets. Sold April 2022, 17% over asking. SOLD: $4.461M
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Manhattan Beach Tree Section | Q1 2022

As the Spring real estate market goes into high gear, the Tree Section is hitting record totals. The median price for Tree Section homes is very close to $3 million now, barely below the citywide median price.

The pace of sales in the Tree Section is somewhat faster than the city as a whole, with 22% more homes sold in the past 12 months, compared to 9% more year-over-year for the whole city.

Buyers just can’t find homes easily, with only 4 Tree Section homes on market as of March 31. Off-market deals are common. Jumps in mortgage rates are adding to the challenges for buyers.

It’s a seller’s market in this popular suburban district, but nothing is easy or automatic. If you’re thinking of selling, consult EDGE for the best strategy to bring you top dollar.

Recent Sales In Manhattan Beach Tree Section

1500 Walnut

Absolutely darling, fully remodeled original cottage. Just 3br & ~1200 sqft. Bid up more than $200K. Sold Feb. 2022. SOLD: $2.600M

625 33rd St.

Original home sold for land value. Offers a 5400 sqft. street-to-alley lot in a good location. Sold March 2022. SOLD: $2.680M

3217 N. Valley

Small 1950s house on narrow lot of about 2500 sqft. Needed updates. Sold March 2022. SOLD: $1.550M

Learn More About Manhattan Beach Tree Section

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North Redondo Beach | Q4 2022

After a high-flying couple of years, gravity has come to the North Redondo real estate market. 

The number of homes sold fell to 326 for the full year, 43% lower than in 2021, and 32% below the 5-year average. The shortage of sales hit fast. It was a citywide concern.

Median prices are up, however, by 12% in North Redondo, and by 11% citywide. Upbeat median price data may conceal a true reversal in prices that is happening now. We see it on individual sales, rather than in full market data. Inventory is now growing, which can create downward pressure on prices.
 
North Redondo is always desirable and the market stays busy. Sellers in this market will be wise to do everything right. We hope to see the market stabilize in the first half of 2023.

Recent Sales In North Redondo Beach

1807 Green Ln

Like-new modern townhouse with rare 3rd story and 5th bedroom. Sold 32% above the early-2020 purchase price. Listed and sold by EDGE. SOLD: $1.715M

2203 Clark Ln

Pleasant 4br townhome that feels like an SFR. Private backyard. Didn’t sell with first agent, but SOLD with EDGE with multiple offers. SOLD: $1.644M

1733 Wollacott St

Nicely done “flipper” remodel sold less than 4 months after first being acquired (for $1.100M). SOLD: $1.500M
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North Redondo Beach | Q3 2022

As the Spring real estate market goes into high gear, the Tree Section is hitting record totals. The median price for Tree Section homes is very close to $3 million now, barely below the citywide median price.

You might hear people say “the real estate market is changing.” What does that mean?

In North Redondo, it means a sharp break between the early Spring market of 2022 and Summer/Fall. It stopped being “easy” to sell by June/July. Some listings got stuck.

Higher interest rates challenge buyers, who are now much more price-sensitive. Buyers sometimes seem to be waiting for sellers to accommodate them. We’re just starting to see real price adjustments as homes sell in these conditions.

The total number of sales is down 30% year-over-year, a number that is typical of the whole South Bay. But attractive, well-priced homes are definitely still selling.

It is more important when selling now to “do everything right.” Make your home look its best, price it right and have a team like EDGE behind you who can get it all done!

Recent Sales In North Redondo Beach

1101 High Lane

Super stylish interior remodel made this 2-story corner lot home sparkle. Sold Aug. 2022. SOLD: $1.602M

1402 Slauson Lane

New construction townhome on a corner lot, more than 3000 sqft. of interior space. Sold Aug. 2022 SOLD: $2.500M

2725 Fisk Lane

Very freshly remodeled and “opened up” on the first floor. Appealing 2-story SFR on large lot. Sold Aug. 2022. SOLD: $1.741M
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North Redondo Beach | Q2 2022

The Springtime real estate market in North Redondo began to show signs of flattening out, after a couple of years of rapid price increases & fast sales.

Inventory of homes for sale is up 31% over last year at this time. This is quite different from trends in nearby beach cities, even South Redondo, where inventory is much lower than last year.

Still, homes are selling fast. Those that do sell go in a median 8 days on market, one-third faster than the average for the previous five years.

Buyers face negative circumstances with higher interest rates, which limits affordability and could impact prices down the road. For now, data don’t show a downshift. If you’re looking to sell, consult EDGE for the best strategy to sell quickly for top dollar.

Recent Sales In North Redondo Beach

2206 Warfield Ave., Unit A

Newer (2018), modern 4 bedroom townhome. Sold in May 2022, 48% higher than its July 2018 purchase price. SOLD: $2.220M

3003 Johnston Ave.

Incredibly redone 2br house with separate 1br guest house. Large lot (8300+ sqft.), outdoor living spaces. Sold April 2022. SOLD: $2.287M

1923 Curtis Ave.

Upgraded bungalow with additions, pool & spa. Valuable 7500 sqft. R2 lot. Sold in May 2022, 22% over asking. SOLD: $1.825M
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North Redondo Beach | Q1 2022

North Redondo accounts for more than half of all home sales in the city. With a median home price now of $1.297M, the area is actually up more year-over-year (17%) than the city as a whole.

While the most affordable North Redondo homes continue to rise in price, demand for new and newer townhomes (especially 2-on-a-lot units) continues to soar. Multiple offers are common.

Most buyers just can’t find homes easily, and are pursuing off-market deals where possible. Jumps in mortgage rates are adding to the challenges for buyers.

It’s a seller’s market, but nothing is easy or automatic. If you’re thinking of selling, consult EDGE for the best strategy to bring you top dollar.

Recent Sales In North Redondo Beach

2016 Perry Ave. #A

New construction townhome with 4 bedrooms and ~2500 sqft. Presold in Jan. 2022, with no marketing. Unit #B same price. SOLD: $1.800

524 Cluster Ln.

Tidy 1950s cottage with 3 bedrooms and ~1200 sqft., large yard. Will be remodeled. Overbid by $231K. Sold March 2022. SOLD: $1.430M

2213 Speyer Ln. #B

Newer (2018) large, rear unit townhome with yard. 4 beds & 2544 sqft. Sold $405K over asking in March 2022. SOLD: $2.300M

Learn More About North Redondo Beach

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