There is so much going on in our local market (still), as the traditional Spring market now begins to bloom. We made time for a post last week about how some homes were selling lower than expected, because, hey, that was surprising. "Man Bites Dog," don't ya know? But the overall vibe of the market is: fast sales at a lot of market tiers, sales over asking, and eyebrows being raised in many cases. We're writing this update a few days into March, and will exercise some blogger's privilege by including some closed sales within March, not only those during our market-update period of Feb. 16-28. Tree Section 2512 Palm (5br/6ba, 3295 sqft.) Asking: $4.899M Closed: $5.500M Over/Under Asking: +$601K Note: Listing launched a week after the tragic L.A. fires. Last year, it might have sold for $1M less. 739 33rd (10,788 sqft. lot) Asking: $4.999M Closed: $5.925M Over/Under Asking: +$926K Note: A developable double-lot on a prime corner at Agnes? Nice potential. 3008 Ardmore (3br/2ba, 1906 sqft.) Asking: $3.495M Closed: $3.575M Over/Under Asking: +$80K Note: This was the 3rd listing of the same home since last September, and the lowest start price. Too low It got bid up Sand Section 405 7th (4br/5ba, 4254 sqft.) Asking: $9.299M Closed: $9.125M Over/Under Asking: -$174K Note: Now the priciest sale on the flat walkstreets of the South End, this one is actually the third ever to hit $9.000M or more, all this year (see also 440 8th at $9.000M and 325 9th at $9.100M). See also: "Time for a New 7th Street Record?" 100 Morningside (6br/6ba, 5366 sqft.) Asking: $8.900M Closed: $8.900M Over/Under Asking: flat Note: This was a robust off-market sale. Sellers had paid $6.510M in 2017. East Manhattan 1616 Mathews (5br/4ba, 3563 sqft.) Asking: $3.300M Closed: $3.628M Over/Under Asking: +$328K Note: Multiple bidders drove this up in late January. 1500 2nd (4br/3ba, 1609 sqft.) Asking: $2.300M Closed: $2.635M Over/Under Asking: +$335K 1146 18th (4br/3ba, 2094 sqft.) Asking: $3.250M Closed: $3.370M Over/Under Asking: +$120K 3 Evergreen Ln. (3br/3ba, 2064 sqft.) Asking: $1.999M Closed: $2.315M Over/Under Asking: +$316K 2104 Chestnut (4br/3ba, 2055 sqft.) Asking: $2.100M Closed: $2.410M Over/Under Asking: +$310K Note: Blank slate on a great street had lots of people looking at the possibilities. 1515 6th (6br/5ba, 4700 sqft.) Start: $6.395M Last At: $5.949M Closed: $5.900M Over/Under Asking: -$495K from start, -$49K from last Note: While sold under asking, this is now the highest PPSF for a newer home of comparable size in East MB, at $1,255/PSF. ------------------------------------------------------ Here's the rest of our local real estate market update report for the period ending 2/28/25: > 67 active listings as of 2/28/25 (+15 from 2/15/25) > 48 SFRs (+11) > 19 THs (+4) See the Inventory list as of 2/28/25 here, or see the MB Dashboard for up-to-the-minute data. Active listings by region of Manhattan Beach in this report: > Tree Section: 14 actives (+6) > Sand Section: 33 actives (+4) > Hill Section: 5 actives (+1) > East MB: 15 actives (+4) We're also providing a report on closed sales by region of MB. Sales data, including PPSF for all properties, are organized by sub-region of Manhattan Beach. Here's a link to the spreadsheet: "MB Pending/Sold as of 2/28/25".
