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What's Hot in MB Real Estate (8/28/15)

Aug 28, 2015 03:09PM ● By Jeanne Fratello
You didn't think the Manhattan Beach real estate market was going to cool down over the last few weeks of summer, did you? From Manhattan Beach Confidential, it's clear that the frenzied real estate market - kind of like our heat wave - shows no signs of slowing.

Manhattan Beach's current inventory stands at 70 listings, down 12 from August 15 (was everyone scrambling to get in a place before school started?). That includes quite a few notable transactions over the past few weeks:

 Ocean-View Walkstreet: There are very few locations in Manhattan Beach where you can get this combination: Ocean views, a walkstreet and proximity to downtown and the beach. The 18th Street walkstreet near town is one of those locations, and the cute, refreshed 1950s cottage at 316 18th was offered at a price that reflected its rare combination of premium factors, $3.500M. It drew multiple offers and is in escrow now.

Bruce's Beach: Over at the stunning view area of Bruce's Beach, 2520 Manhattan Ave. and 2519 Bayview, neighboring 1750 sqft. lots on the south side of the park, both sold for $4.000M each. (With the same agent representing the buyer for both lots, you can go ahead and infer that it's one buyer.)

Townhomes: It's increasingly clear that if you want a Manhattan Beach townhome you're going to need to spend a number that starts with a '3.' At 2301 Vista, a 2002-built, 3br/4ba, 2420 sqft. modern that decked out very well and had good views for a back unit, became the signature quick, high-value townhome sale of the summer with an asking and sold price of $3.400M.

South End Sand: In the coveted South End Sand Section, 235 4th, a corner lot along Highland Avenue in the treasured South End, recently closed for $3.850M. Next-door neighbor 229 4th is in escrow with a list price of $5.000M.

Strand: On the Strand, Manhattan Beach's coveted beach-front stretch, a property at 304 The Strand sold for a dirt value of $14.000M.

American Martyrs: In the leafy Tree Section neighborhood near American Martyrs church, 719 19th drew a great bit of interest as a corner that's oversized by perhaps one-third over the norm for the area at 6425 sqft. Starting with an asking price of $2.400M, it drew multiple offers and closed at $2.775M, or more than 15 percent over asking.

Want to keep up on the minute-to-minute news on Manhattan Beach real estate? Check out Manhattan Beach Confidential for daily news and updates.

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