Recent sales in Manhattan Beach, especially for the highly coveted “mid-one millions” price point, are getting to be absolutely crazy these days. Recently there were a couple of unbelievable bidding wars on some homes in this price point. One, at 1312 Walnut, was a little 3 bedroom plus office 3 bath home on a nice (but not fantastic) location in the Tree Section. The home was priced at $1.6M and in last year’s market, this would have been overly optimistic. Instead, in a heavy round of “best and final offer” bidding, over 10 bidders pushed the price up to a rumored over 1.7 Million and some say 1.8Million. We will see when it closes.
In another recent bidding war, there were over 10 offers for a 4 bedroom 3 bath home on Meadows right near the school. This home was fully remodeled as a recent flip, and prior to the remodel, even the “flippers” felt it would be priced about 1.4 to 1.5. Because of the market, they priced it at $1.5M and it ended up going well over 1.7M.
Everyone in our office is talking about these sales and the crazy pricing in Manhattan Beach today. Even properties at “C” locations such as Marine, Rosecrans, or near Aviation or Sepulveda are getting bid up and snatched up. If you have a home in Manhattan Beach to sell, now is the time because you don’t even really have to fix things up!