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East Manhattan Beach real estate over the past few years has experienced really fabulous price growth. On a rolling 12-month average for median price, the Mira Costa sub-market (MLS area 147) stood at $1.7 million back in January 2015 and held its peak through a majority of 2018 at $2.25 million. That is a whopping 32% median price increase in just over three years for that sub-market. This year, we have seen some price softening in the Mira Costa sub-market to a rolling 12-month median price of about $2.1 million. Contrary to popular belief, even in Manhattan Beach, prices do not always go up in a straight line. Just about a year ago, I wrote a
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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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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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As the South Bay home market begins to wake from its holiday slumber, I went back to study this normally slow season. From my research, I found an unusually high amount of sales in the luxury home market. In only 42 days, from December 1st to January 11th, the luxury home market had some MAJOR sales! Hermosa Beach Lot Sale 1918 The Strand Asking Price: $7,200,000 2,547 sq. ft., 2,382 sq. ft. lot Sold for $6,800,000 Some might believe this sale will be the benchmark for land value on The Strand in 2019. With its bullseye location in the middle of Hermosa, many buyers will believe that similar lots to the less desirable south will sell
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East Manhattan Beach real estate has had a nice run over the past few years. If you have been watching my IGTV channel, then you know the first three quarters of 2016 were up 10.28% year over year. The same period in 2017 was up 5.78%. The strongest portion of this market has been new construction sales. It seems that prices continue to go higher and higher. And, although we are seeing a flattening of East Manhattan Beach price growth this year (down 3.68%), new construction homes have remained highly desired. So desired, that prices have warranted significant premiums above similar existing homes. New Construction vs. Existing Homes Looking at new construction sales versus existing home
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East Manhattan Beach Sale A recent lot sale signals that real estate developers are about as bullish as they can get on East Manhattan Beach (East MB) real estate. After being on market for almost a year, the 15,311 sq. ft. double lot offering at 1156 6th Street in East MB finally sold last week for $3.6 million. I mentioned this particular lot in my June 2017 blog (Recent Lot Deals in Manhattan Beach) when it was asking $3.795 million after selling in late 2015 for $3.3 million.  At the time, that asking price did not pencil to build two homes. Instead, I speculated in my blog that perhaps a buyer in search of an over-sized
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…That is the question. It is a question I get from my clients repeatedly. The answer? Well, sometimes it is the right call, but oftentimes it is not. Manhattan Beach Case Study To demonstrate this age old new construction quandary, let’s look at some properties in Manhattan Beach, as it is the epicenter of new construction in the South Bay. These examples can also be applied to areas like The Avenues in South Redondo, town homes in Hermosa Beach, remodels in Palos Verdes, and more. Let’s start with East Manhattan Beach. 1467 3rd Street (5-beds, 5-baths, 4,472 sq. ft., 7,466 sq. ft lot) Sold for $2,631,000 Built in 1999 1540 Curtis Avenue (5-beds, 5-baths, 4,400 sq.
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East Manhattan Beach As Manhattan Beach Sand Section home sales have begun to slow due to high prices, a nearby beneficiary has emerged over the last few years – East Manhattan Beach homes. Buyers have come to realize that East MB offers a suburban feel, sprawling backyards, much more parking, and generally a lot more bang for your buck. Over the last few years, Buyers priced out of the market west of Sepulveda have started to migrate to East MB. These buyers seem to have come out in droves this year and it has created a resounding uptick in prices and sales to the area. East Manhattan Beach Sales Our readers have come to know that
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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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It is pretty uncommon to find a beach pad for under $1 million these days. Manhattan, Hermosa, and south Redondo Beach have all had a spectacular price run over the last few years making it difficult for first-time and second home buyers to get in by the South Bay sand. If you can only afford below $1 million, fear not, there are still options that exist! They are just few and far between. And if South Bay beach real estate continues its climb over the next few years, then these options might cease to exist. Between MB, HB, and SoRo there are only 17 active listings available with a price below $1 million. Let’s take a
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