Buyers love the extra value they get from the tw0-on-a-lot townhomes in the Beach Cities.  Typically in North Redondo Beach, this type of construction is on a 50 x 150 R-2 lot with a front unit and a rear unit and a shared driveway.  Most are under 2400 square feet, and may or may not have a back yard, however small.  Occaisionally a home comes on the market that is on a corner which allows the two units to face different streets and not share a common driveway.  Such is the case with my new listing at 2422 Gates Ave.  Additionally, this particular corner lot is 60 feet wide, allowing for a landscaped side yard.  The home is more spacious than most, and has a formal living room, formal dining room, a family room and four bedrooms.  At $785,000, this is a good buy on a comfortable  and spacious home.

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Welcome to my website.  Here you will find information about the communities I serve, Manhattan Beach, Hermosa Beach, Redondo Beach and surrounding cities.  There is information on the excellent schools as well.  Follow real estate market trends with updated charts every month or request a customized market valuation of your home.  Be sure to click on the “Search Properties” tab to search for a complete home searcch including sold properties.  My search tool uses the same data base as I do, and it is updated every couple of hours providing you with the most current information.  Be sure to register to save your searches, view all the detail about properties, and sign up for automatic updates when new listings come out.  If you are searching from your mobile device, the search tool automatically forwards you to a mobile enhanced version.   And contact me if you have questions or wish to view a property.

The Strand, Manhattan Beach near the pier

The Institute for Luxury Home Marketing posted the following on their blog on October 4, 2011, and then challenged readers to compare the price per square foot paid to a street in their local market that represented the highest price per square foot. So I took their challenge.  See the results.

“Despite the global economic downturn, there are still markets where residential real estate prices are in the stratosphere. Wonder where the most expensive residential real estate in the world can be found?

Here’s the list of the ten priciest streets in the world, according to a post on the Overseas Property Mall blog.

1. Severn St., Hong Kong, China:
   $78,200 per square foot
2. Kensington Palace Gardens, London, England:
   $76,600 per square foot
3. Avenue Princess Grace, Monte-Carlo, Monaco:                                                        
   $69,700 per square foot
4. Chemin de Saint-Hospice, Saint-Jean-Cap-Ferrat, France:
   $62,700 per square foot
5. Fifth Avenue, New York City, United States of America:
   $62,700 per square foot
6. Quai Anatole, Paris, France:
   $44,600 per square foot
7. Rue Bellot, Geneva, Switzerland:
   $43,000 per square foot
8. Via Romazzino, Porto Cervo, Sardinia, Italy:
   $23,700 per square foot
9. Wolseley Road, Point Piper, Sydney, Australia:
   $20,900 per square foot
10. Ostozhenka, Moscow, Russia:
    $18,000 per square foot “
    

    The Strand - North End

     

In 2010 sales of property totaling $29,897,500 averaged $1,639 per square foot on the 2.1 mile ocean frontage known as The Strand, Manhattan Beach.

2011 sales totaling $53,852,300 on The Strand ranged from $1,315 per square foot to $2,904 per square foot with an average price of $1,615 per square foot.  Apparently some buyers have figured out that ocean front property is an incredible bargain in Manhattan Beach.

Manhattan Beach Blvd. and Pier

Manhattan Beach real estate ended the summer in fine style. The sale of a spectacular contemporary ocean view Hill Section home was a record $16 million. The home, built in 2007, is reported to be around 8,100 square feet on a lot that is over 11,000 square feet. The property was not listed. The buyer was represented by Shorewood Realtors.

In the city 320 homes sold this year compared to 302 by September 30, 2010. The biggest gains were in the Sand Section where affluent buyers scooped up 110 homes this year compared to 89 last year. Sales in the Sand Section of luxury homes above $3 million more than doubled over last year (21 versus 10) including a $10,900,000 sale on The Strand this year. Prices are still below the peak, and the market presents an opportunity for those who can afford to take advantage of the generally lower prices.

The Tree Section was nearly flat with 85 sales year to date compared to 87 this time last year. There was a decline in the average sales price from $1,623,466 to $1,487,943. This may be due in part to the larger number of smaller homes in the mix. Cape Cod style homes sold quickly due in part to demand for “beachy” feeling homes, and a shortage of them coming to market. Similarly, the Hill Section sales declined from 37 to 27 year to date. The sale referenced above is not included in the statistics for the city or the Hill Section since it was not part of the multiple listing service data, but that may be just as well, since it would significantly skew the numbers.

If you have questions about how the market has impacted the value of your home, or one you would like to purchase, please contact me. More statistical information will be due out soon, and I am always happy to share it with you. Drop me a line at Mickey@Come2theBeach.com for a confidential consultation.

Published Monday, October 03, 2011 4:34 PM by Mickey Knickerbocker