Manhattan Beach walkstreet homes

Ultimate Beach Living in Hermosa and Manhattan Beach Walkstreet Homes

Something relatively unique to Manhattan Beach real estate and HermosaManhattan Beach walkstreet homes Beachare the homes located on “walk streets”. These walkstreet locations offer the absolute ideal in community beach living as they are located on lots that have parking and garage at the back of the home and the front of the home sits on a pedestrian only sidewalk.  According to Keith Kyle, a top realtor  with Vista Sotheby’s International, “These walkstreets offer a sense of community that is a bit different than other areas.  As the front yards and patios all face the sidewalk the walkstreet often becomes the center of the community for these streets.  They are very family friendly as there isn’t the risk that busy streets and cars create so it has a very safe feeling.  As they are almost always located within a block or two of The Strand and the beach it has that old school beach community feel”.

Walkstreets are very limited and are only in the sand sections of both Hermosa and Manhattan Beach.  They range in size due to the contours of the streets they cross but all create a very community and family friendly environment and are some of the most sought after locations in the South Bay.  Prices in Manhattan Beach generally start around $3.0M (usually on a corner of a walkstreet and moderately busy street) andquickly go up from there and prices are now reaching into the high $5.0M range for homes with big views and closest to the beach.  Homes in Hermosa Beach start in the mid $1M range (some homes have unusual situations such as no garage, small lot, etc) to the new high water market of $5.25M for the home mentioned above at 41 16th Street.  In Hermosa Beach the streets are generally flat so views are not something overly common, but that’s not the case in Manhattan Beach where the slope of the hill often means just about every home enjoys some nice ocean views.

Click here to view the current homes for sale in the Sand Section of Manhattan Beach or visit our Hermosa Beach Sand Section listings page.

 

South Bay Median Home Prices on the Rise

Year over year median home prices increased in most South Bay cities for September 2012.  12 of the 18 cities we track saw increases in median prices from September of the previous year.  Manhattan Beach real estate along with Hermosa and Torrance saw double digit increases while Redondo Beach had an increase in home values of only 1%.

Click here to view the sold homes listed per South Bay city for the month of September.  To see charts and information on real estate trends visit our market trends section.

 

City Homes
Sold
September
2012 Median
September
2011 Median
Year
over Year % Change
Carson 54 $270,000 $277,500 -2.70%
El Segundo 16 $595,750 $550,000 8.32%
Gardena 44 $310,000 $279,000 11.11%
Harbor City 19 $215,000 $238,000 -9.66%
Hawthorne 40 $383,500 $327,500 17.10%
Hermosa Beach 23 $1,037,500 $905,000 14.64%
Lawndale 15 $241,000 $285,000 -15.44%
Lomita 13 $410,000 $407,000 0.74%
Long Beach 286 $295,000 $285,500 3.33%
Manhattan Beach 29 $1,300,000 $1,125,000 15.56%
Marina Del Rey 30 $706,000 $611,250 15.50%
Palos Verdes Estates 31 $1,085,500 $1,100,000 -1.32%
Playa Del Rey 14 $405,000 $522,500 -22.49%
Rancho Palos Verdes 47 $950,000 $893,000 6.38%
Redondo Beach 73 $659,000 $652,500 1.00%
San Pedro 44 $372,500 $310,000 20.16%
Torrance 123 $462,000 $403,000 14.64%
Westchester 39 $625,000 $659,000 -5.16%
Redondo Beach real estate trends

Home Listings on the Decline in the Beach Cities Area

Beach Cities Real Estate Market UpdateThe Village condos at sunset

Home Listings on the Decline

The number of frustrated South Bay home buyers (and buyers agents) continues to rise as the inventory of available homes in the South Bay and Beach Cities continues to decline with a multi year low for the month of October.  October closed out with 224 active homes for sale in Manhattan Beach, Hermosa Beach, Redondo and El Segundo which was dramatically lower than any other month and down over 50% from last September.  Currently there are 216 homes for sale with the downward trend appearing to continue.  Pending sales were on the rise as well with October closing with  180 homes in escrow.  That’s an unbelievable ratio of active to pending sales and something not seen in many years.  Click here to view the current homes for sale or to see October 2012 home sales per city.

 

 

 

Oceanfront homes in the Hollywood Riviera

Manhattan Beach Hill Section – Luxury Homes Market Update

For luxury home buyers wanting it all, the hill section of Manhattan Beach may be the ideal location to call home.  According to Keith Kyle, top realtor with Vista Sotheby’s International Realty, “Manhattan Beach hill section real estate offers something that the sand section doesn’t….space.  While the goal for many home buyers is to live near the ocean and ideally have views of the ocean, the lots sizes closest to the ocean doesn’t allow for much, if any, outdoor space.  By comparison the lots in the hill section are often far larger, offering luxury home buyers tremendous ocean views, while still allowing for a large home and a large yard.”

Currently there are 7 active homes for sale ranging from just under a millon dollars on the city side of the area, to just under $9.0M for a spectular home on the ocean side.

Current Manhattan Beach Hill Section Homes for Sale

And then there were two…..short sales a thing of the past in Manhattan and Hermosa?

With the low inventory and high demand, the few short sales that appear on the market don’t seem to last long.  We’ve tracked the Manhattan Beach and Hermosa Beach short sale and foreclosure market for the past few years and we are now at a several year low with only two “distressed” sales currently active on the South Bay MLS.  In recent months the few short sales and foreclosures in these areas are generally pricing and selling closer to market value.  Below are the two current foreclosures, one each in Manhattan Beach and Hermosa Beach.  The condo in Hermosa Beach is located in the condo/hotel The Beach House Hermosa Beach and is unusual due to it’s condo/hotel aspect which only allows owners to stay a total of 90 days a year.  This challenge makes financing almost impossible which is partially responsible for the past and current short sale situation.  The other is located in the El Porto area of the Manhattan Beach sand section.

Keith Kyle is a licensed Realtor, short sale specialist and Top Producing agent with Vista Sotheby’s International in Manhattan Beach.  He serves his clients throughout the South Bay and his websites KeithKyleHomes.com, Redondo Beach Real Estate , Torrance Real Estate, Manhattan Beach Luxury Real Estate offer the most comprehensive real estate destinations in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more.  Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com.

 

Oceanview balconies at 620 The Village

October 2012 Home Sales in the South Bay

October saw some strong indicators in the local South Bay real estate market with low inventory and continued price increases.  Click any South Bay city below to see the homes sold in October 2012 or see our market trends  pages for information on the real estate market in Redondo Beach.
 October 2012 Home Sales


El Segundo
Gardena
Hawthorne
Hermosa Beach
Hollywood Riviera
Lawndale
Manhattan Beach
Palos Verdes Estates
Rancho Palos Verdes
North Redondo Beach
South Redondo Beach
San Pedro
Southwood, West & South Torrance

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Vista Sotheby's International

Vista Sotheby’s International Realty is one of the top real estate brokerages in the South Bay and Southern California with offices in Redondo Beach and throughout the South Bay

ADDRESS:

1801 S Catalina Ave, Redondo Beach, CA 90277

Phone:

310.251.2344

E-mail:

keith.kyle@vistasir.com

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keith kyle

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Welcome to Sotheby's International Realty representing buyers and sellers of fine South Bay and Southern California properties

Redondo Beach Real Estate & Homes. All rights reserved. Information deemed reliable but not guaranteed

Keith Kyle – Licensed Realtor – Vista Sothebys International Realty – DRE#01712785

The listing information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to our franchisees (who in turn supplied it to us), we cannot represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. All dimensions are approximate and have not been verified by the selling party and cannot be verified by Sotheby’s International Realty Affiliates LLC. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information. Sotheby’s International Realty ® and the Sotheby’s International Realty Logo are service marks licensed to Sotheby’s International Realty Affiliates LLC and used with permission.