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What's Hot in MB Real Estate (1/6/16)

Jan 06, 2016 04:15PM ● By Jeanne Fratello
What's hot in Manhattan Beach real estate? Just about the hottest thing right now is not a house, but this must-see list: Manhattan Beach Homes Sold in 2015 on MB Confidential.

The list provides a comprehensive picture of all homes sold in Manhattan Beach last year. And depending on what you're interested in, you can sort the data any way you like. Tree Section homes only? Check. A clickable map with address and price listed? Check. A list from most expensive to least expensive? Or vice versa? Check and check.

Spoiler alert: The most expensive home sold in Manhattan Beach in 2015 was $9.500M (116 25th Street, pictured up at the top) and the least expensive was $560K (1466 Manhattan Beach Blvd. #1).

If you love real estate and numbers, this is a fun list to spend some time poring over.

In other real estate news, there has been something of a "bulge" (even though we're trying to avoid that word post-holiday) in East Manhattan Beach inventory in the $2.2-$2.4M range.

MB Confidential first looked at a group of seven homes at that price range in October. At the time, no homes east of Sepulveda priced at $2M or above were in escrow.

However, of this "bulge" group of seven homes, three have since sold. Among the sold listings, you see that:
  • all began by asking $2.4M or more,
  • all chopped $200K or more, and
  • sales closed in the narrow range of $2.150M-$2.236M.
Outside of the "bulge" group, a more expensive East Manhattan Beach spec listing was a large new modern at 1431 18th (5br/6ba, 5275 sqft.), which first came out asking $3.999M in April. Over several months, three big price cuts were made. It was last seen asking $3.199M. The sale has now closed for $3.000M, down 25 percent from its start price.

Additionally, an adjustment process seems to be under way now at 1304 Lynngrove (5br/6ba, 3750 sq. ft., 5400 sq. ft. lot).

It's an ultramodern, ambitious new custom (spec) home that came out much higher than you'd expect for Liberty Village, asking $3.199M to begin.

This week, they're down to $2.899M, a modest 9% reduction for the time being.

There are currently 10 active listings east of Sepulveda today priced over $2M, many well above.

Stay tuned to MB Confidential to see how those properties shake out.

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