Real Estate Update in the Manhattan Beach Hill Section

The hill section of Manhattan Beach offers it all…..beautiful homes on quiet streets, stunning views, much larger lots than in other “sections” of Manhattan Beach, and luxury homes to take your breath away.  All of this while still being west of Pacific Coast

Highway/Sepulveda Blvd and still walkable to the beach.  It is specifically due to the larger lot sizes that the homes in the area are not as confined to certain sizes and designs to fit within the smaller lots of the sand section and tree section.  The result are often truly custom homes with large square footage, not at the sacrifice of larger outdoor areas.  It is simply the best of all worlds.  The market has not been as active as some of the surrounding areas and cities with very low inventory and relatively low numbers of listings and sales.  There have been 5 closed home sales in 2013 with an average sales price of $1.869M.   Due to low number of homes sold in the area and the extreme pricing differences, these numbers can be drastically different over time.  See a quick recap of the real estate market in the hill section of Manhattan Beach.

2 Active MLS Listings in the Hill Section
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 3,150,000 12 3 5.00 2002 3,695 5,502
Max 3,695,000 41 6 5.00 2003 3,936 6,255
Avg 3,422,500 27 5 5.00 2003 3,816 5,879
Sum 6,845,000
2 Pending Sales
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 1,750,000 12 4 4.00 1995 4,405 5,200
Max 2,997,000 54 5 5.00 2003 4,429 5,798
Avg 2,373,500 33 5 4.50 1999 4,417 5,499
Sum 4,747,000
1 Pending in Backup Offer Status
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 3,699,000 50 4 4.00 2006 3,447 4,191
Max 3,699,000 50 4 4.00 2006 3,447 4,191
Avg 3,699,000 50 4 4.00 2006 3,447 4,191
Sum 3,699,000
5 Closed Sales Since January 2013
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 939,094 939,094 2 1.00 1952 782 4,377
Max 3,577,000 152 3,525,000 5 6.00 2004 5,000 9,429
Avg 1,893,019 32 1,869,719 3 2.80 1970 2,611 5,768
Sum 9,465,094 9,348,594
Status: All
List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 939,094 939,094 2 1.00 1952 782 4,191
Max 3,699,000 152 3,525,000 6 6.00 2006 5,000 9,429
Avg 2,475,609 33 1,869,719 4 3.70 1986 3,297 5,579
Sum 24,756,094 9,348,594

Contact Manhattan Beach realtor, Keith Kyle for more information on any of the hill section homes for sale below.

[idx-listings community=”Manhattan Beach Hill” propertytypes=”516″ orderby=”DateAdded” orderdir=”DESC” count=”5″]

Hermosa Beach Real Estate – By the Numbers

The below chart offers a quick overview of the real estate market in Hermosa Beach as of March 4, 2013.  The month of February saw 12 closed sales with 40 active homes for sale and 32 pending home sales in this small coastal community.  Prices are definitely on the rise and is the case with neighboring Manhattan Beach and Redondo Beach, inventory is at near record lows while demand remains very high.   Click here to view the recent Hermosa home sales by month, or the current MLS list of homes for sale in all areas of Hermosa Beach CA.  The active listings averages and median home prices are skewed somewhat by the oceanfront home for sale at 2666 The Strand priced at $14,250,000.

12 February Closed Sales
 List Price  ADOM  Selling Price  BR BA Year Built SqFt Lot SqFt
Min  $399,000 4  $  345,000 1 1 1929 450
Max  $4,975,000 1011  $ 4,600,000 5 5 2012 4,040 10,132
Avg  $1,541,167 116  $ 1,476,667 3 2.75 1978 1,929 4,008
Sum  $18,494,000  $ 17,720,000
40 Active Listings
 List Price  ADOM  Selling Price  BR BA Year Built SqFt Lot SqFt
Min  $335,000    1 1 1920 439 973
Max  $14,250,000 328    6 8 2013 7,000 43,536
Avg  $1,819,950 62    3 3.2 1982 2,117 9,278
Sum  $72,798,000   
32 Pending Sales
 List Price  ADOM  Selling Price  BR BA Year Built SqFt Lot SqFt
Min  $335,000 1    1 1 1924 440 1,007
Max  $3,289,000 321    4 5 2013 3,700 59,585
Avg  $1,025,369 64    3 2.61 1978 1,755 9,451
Sum  $32,811,800   
Beachfront homes for sale on the Hermosa Beach Strand

Is the Hermosa Beach Real Estate Market Calming Down?

**Please note that this is a post from 2013 and the information and opinions are no longer current**

Hermosa Beach has seen prices rise as demand has boiled over due to severalBeachfront homes for sale on the Hermosa Beach Strand months of very low home inventory but perhaps we’re starting to see that even out just a bit. The number of homes for sale has stayed relatively flat for 3 months now despite significant pressures due to pent up demand.  Click to view the active homes for sale in Hermosa Beach.

In addition we’ve seen an increase in months of inventory due to a higher number of new listings as of late. Inventory had been slowly declining for the past 12 months with December reaching a low point of only 1.2 months of inventory on the market. January saw a jump up to 4 months but as Hermosa is a very small community numbers do tend to fluctuate on occassion.

Manhattan Village pool

Manhattan Village Real Estate Market – February 2013

Manhattan Village, one of the only gated communities in the Beach Cities, has continued to be an active market with 2 current active homes for sale, and 3 pending homes for sale.  Both active listings are plan 2 court homes with 2 bedrooms and 3 baths and all pending listings are court homes as well.   Visit our Manhattan Village real estate information page to view a community map as well as floorplans for all courthomes, townhomes and estate homes.

The chart below shows the most recent closed home sales in Manhattan Village with all but one being a standard sale and one short sale at 20 Bridgeport, a 4 bedroom estate home.  Visit our Manhattan Beach home sales page to see updated reports on the most recent closed escrows.  Contact Manhattan Beach Realtor, Keith Kyle, for more information.

Manhattan Beach Strand homes for sale

Manhattan and Hermosa Oceanfront Home Market Alive and Well

When most people think of the ideal in luxury coastal living in Manhattan BeachManhattan Beach Strand homes for sale and Hermosa, they think of the oceanfront homes of The Strand.  While some fairly original homes still exist, most have long been replaced by spectacular homes with endless views of the beach and the ocean.  The market for these luxury homes has been very active lately with some very notable sales and recent listings.  The high water mark at the moment is the home being built in Hermosa Beach at 2666 The Strand, with an impressive 7000 feet on a very irregular shaped lot with great beach frontage.  The home is listed at  $14,250,000.  The home at 3300 The Strand in Manhattan Beach recently was listed at $11,500,000 and quickly went into escrow.

A few notable sales have recently closed as well with 4112 and 4114 The Strand, built primarily as attached townhomes but with the ability to combine the two spaces fairly easily, closed at a combined sales price of $7,175,000 and 2020 The Strand selling at $9,450,000.

Redondo Beach real estate trends

Wondering Why You Can’t Find that Dream Home in the South Bay?

It’s no secret that it’s a frustrating world out there for home buyers.  Oh how quickly things turned from a strong buyers market to a market clearly favoring sellers.  According to Redondo Beach Realtor Keith Kyle “There is incredibly low inventory everywhere and the high demand areas of the South Bay such as Manhattan Beach, Hermosa Beach and Redondo Beach have little to offer buyers at the moment”.  To make life even more frustrating for Beach Cities home buyers, is that the moment a well priced home comes on the market, the frenzy starts with buyers often going way over asking price, waiving the appraisal contingency and simply buying homes above current market value.  The chart below sums it up pretty clearly with the number of active homes for sale in the South Bay plummeting from over 1500 a year ago to just over 600 in December of 2012.  This is while the number of closed sales has remained steady.

To view the current homes for sale visit our South Bay MLS search, or click our recent home sale page to see the most recent home sales in the South Bay cities of Manhattan, Hermosa, Redondo Beach, Torrance, El Segundo and surrounding areas.

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

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