We are right around the corner from kicking this June gloom and heading straight into the South Bay summer. This marine layer reminded me of a 2016 June blog titled Value Areas in the Beach Cities. In this blog I examined areas offering a ton of bang for your buck relative to nearby markets. Today, I want to re-examine those areas and share value areas for 2017. MB Liberty Village Starter Homes In 2016 Liberty Village offered great value relative to the other areas in the city of Manhattan Beach and was primed to continue running. Here are some of the comparables from then and now… (2016) 2204 Manzanita fixer sells for $1,395,000 (2017) 1408 Manzanita fixer sells for $1,450,000 If you jumped
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Month: June 2017
In December of 2015, I wrote a blog about the affordability of Hermosa Beach condos. More specifically, I wrote about the large condo buildings on Ardmore and Pacific Coast Highway being the best bang for your buck. Just six months later, I wrote a follow-up blog about the surge of those condo prices going from $575,000 in December 2015 to $650,000 in June of 2016. A 13% rise in a very short period! Now, here we are in June of 2017 (12 months later) and I think it is time to revisit this topic to see if prices have continued to surge or leveled off. June 2016 to December 2016 This period was an interesting time for Hermosa Valley condos. Sale prices were surging up to
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Lot sales in Manhattan Beach are always a favorite research topic of mine. These sales can be an indication of an area’s next price driver or sometimes it is just an aggressive homeowner trying to build their dream home. With accelerated Manhattan Beach real estate growth over the past five years, it has been difficult to make a bad buy on lot purchase. On today’s blog, I plan to explore these lot sales in an attempt to guess what comes next and how the dollars and cents work out. Sand Section Sale In March of this year 316 32nd Street sold to an LLC for $2,926,500. The property is a standard full lot at 2,700 sq. ft. zoned to support town
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A bombshell home sale wrapped up escrow last week at 1000 The Strand in Manhattan Beach. The massive south end corner lot officially closed for $21 million becoming the first residential sale over $20 million in Manhattan Beach. In fact, according to the MLS this was the highest sale for a residential property not only for Manhattan Beach, but also Hermosa, Redondo, and the entire Palos Verdes Peninsula. Originally asking $28.9 million (an outrageous price then and now) at the end of 2015, the property was on and off the market over an 18-month period steadily cutting the price all the way down to $23.9 million in January until it accepted an offer on May 1st and closed 30
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