Manhattan Beach Sand Section Market Update - By the Numbers

The sand section of Manhattan Beach offers the epitome of California coastal living. The sand section is the area of Manhattan Beach that is bordered by the beach and ocean to the west, and generally the streets of Valley and Ardmore to the east. What makes this area so desirable is the proximity to the beach and the ocean. The area offers a variety of housing options with oceanfront luxury homes on The Strand, beautiful "walk street" homes with a wonderful sense of community and often sweeping ocean views, townhomes just a few blocks to the beach, and multi unit homes of North Manhattan, known as El Porto. The market is always very active as the demand is always strong for prime beach real estate. As of mid March there are 9 active homes for sale in the sand section, 21 pending home sales and 18 closed homes sales as of February 1st. According to Manhattan Beach realtor Keith Kyle, "Incredibly low inventory coupled with very high demand since the beginning of the year is driving prices up quickly. There are many buyers looking in this luxury market, but there are very few listings and even homes priced at market value are often selling with multiple offers, over asking and with huge concessions by the buyers." The current average sales price since the beginning of February has been slightly over $2,300,000. See the chart below to see the market by the numbers.