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The Rolling Hills home market “Behind the Gates,” has had a rough couple of years from a median price perspective, sales perspective, and even what the city is known for…the high-priced home sales perspective. That seems to have all changed in 2018, as well as continuing into the conclusion of Q1 2019. For reference, you can check past blog posts on the struggling Rolling Hills market in this October 2017 post and this November 2018 post. Rolling Hills Market Data I want to share some data over the past few years that will help illustrate how the Rolling Hills sub-market has performed. I tried spacing out the chart (and color coding) so it is easier on
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The Manhattan Beach Tree Section is always a topic of conversation in South Bay real estate. Not only is it in perhaps the most coveted city in the South Bay, but it offers a wide range of housing options west of Sepulveda. In this sub-market you can find anything from fixer beach bungalows for well under $2 million to turnkey new construction homes around $3 million. Close to Sand Dune Park you can find larger lots over 5,000 square feet with new construction pushing into the $4 million’s. The highly desired Martyrs area can push more than $5 million offering big homes and views. The Tree Section even offers double lots like the sale below that
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You might have noticed I have been slow to complete my quarterly updates for you guys: special report, quarterly newsletter, and IGTV posts. Manhattan Pacific has been crazy busy (no complaints about that!) but I want to give you a quick taste of the market updates. Quarterly Data Q1 2019 over Q1 2018 produced some interesting data. Manhattan Beach and Redondo Beach both faired very poorly. For Manhattan Beach, all sub-markets were down Q1 over Q1 and it was pretty ugly. The same went for both North Redondo and South Redondo. Divide it up between condos and SFRs to see a difference…both assets types were down too. Now sometimes just a quarter of data is not
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The South Redondo new construction home market has been on a consistent, steady rise for the past few years. New construction is in demand for affluent buyers in the area, and developers are getting bolder with their home builds. For this post, we are going to focus on “The Avenues,” a market which is ground-zero for new construction spec homes. The climbing prices follow a similar trend we see in the Manhattan Beach Tree Section market. New Construction Data Let’s compare some Avenues new construction year-over-year data from 2018 versus 2017 to see what might be in store for 2019. 2017 New Construction Sales 703 Avenue A 4 bed, 5.5 bath, 4,200 square feet Sale Price:
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Who’s HOT Manhattan Beach New Construction This is no secret but Manhattan Beach has been on a new construction kick. Buyers in this city tend to be high-income earners and want to focus on their business, not remodeling a home. Although East Manhattan Beach was down as a whole, new construction prices continued to make record highs even to this day. That being said, Liberty Village is setting new records for itself as well. The Tree Section was flat in 2018 and although new construction has slowed slightly, people are still picking up new builds at a strong pace. The Hill Section poses a lot of risks for spec builders, so when a newer well-done home
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The Valley Section of Hermosa Beach has a wide range of housing options. This area is home to some of the most affordable one- and two-bedroom condos in the city as well as some of the most expensive estate properties in the city. This sub-section is quite small. From Pier Avenue to the north and Herondo to the south, the east/west boundaries are tiny with Valley to the west and PCH to the east. It is only about 11 blocks. The Sophie’s Choice of Town Homes Most town homes in this smaller sub-section of Hermosa range from 2,000 to 3,000 square feet. The one defining factor between a large gap in price is whether it is
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In 2018, the Manhattan Beach median home price was right around $2.4 million. That is a BIG number. If you are looking to get into this coveted beach home market without breaking the bank, you should consider Liberty Village. In this sub-market of East Manhattan Beach, there are options for all types of buyers. There are fixer starter homes for under $1.3 million, there are medium-sized turnkey homes around $1.7 million, and of course, there are new construction homes commanding over $2.7 million. Today, I will be breaking down some of these options to show how Liberty Village is a great option to get you into the Manhattan Beach real estate market. New Construction As most
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Now that spring is officially upon us, the South Bay real estate market will begin to heat up over the next few months. So before the official rush of spring selling season begins, I thought I would touch on some intriguing South Bay listings under $1 million. Hermosa Beach 1202 20th Place 3 bed, 1 bath, 1,176 sq. ft., single-family home Asking: $965,000 Finding a single-family home under $1 million in Hermosa Beach is almost impossible. This fixer property was recently cut just below $1 million, and if you are a shrewd negotiator, you might be able to get it even lower! This property has a chance to be one of the lowest 2,500 square foot
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The Silver Spur sub-market on the Palos Verdes Hill has been a long time hidden gem with amazing affordability and top-notch schools. Over the past decade, the area has been known for three- and four-bedroom starter homes around 1,800 square feet offering incredible value for first-time home buyers. Pair that with one of the best locations to get on and off The Hill (or deeper into the The Hill), this sub-market is slowly making a name for itself. See more about the area in our Silver Spur neighborhood profile here. Median Price Homes After the Great Recession, the Silver Spur sub-market median price was well below $1 million. Even up until 2015, the trailing 12-month median
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The old Realtor adage “Interest rates are rising – go out and buy now!” is oftentimes a misguided statement for most buyers. For this week’s blog post, I want to address this proclamation and why more often than not, it is not accurate. Everyone’s financial goals are different and interest rates should never be the one driver behind buying a home. Interest Rate Realtor Claims Take a look at this chart below that has been flying around social media: Source: The Romanski Group I have seen variations of this chart posted over the years. Whoever created this graphic was very smart to target specific buyers in order to sell more real estate. That said, buyers need
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