Manhattan Strand Update – 6/11

Posted on 03. Jul, 2011 by Tony Cordi in Manhattan Beach

In spite of no new sales to report, there has been quite a bit of activity as far as the past 30 days of the Manhattan Beach strand real estate market goes.   Another home has become available with the home at 2908 The Strand being added to the market at $8.4 million.  This raises the active inventory to seven homes with prices ranging from $6 million to $27 million. We had ended the prior month with six homes actively on the market.

2908 The Strand - $8.4 million

The prior month saw the sale of  3516 The Strand at $7.3 million.  It started on the market in 2009 at just under $13 million (link).  This represents a drop of over 40 percent.  The record price for a Manhattan strand home remains under $11 million and was set just a few months ago.

The only other changes this month were a few more price reductions.  The home at 3308 The Strand dropped from $6.59 million to $6.2 million.  For the home at 2504 The Strand the price was reduced to $6.49 million.  It was most recently at $7.19 million.

These price breaks are modest, however, in comparison to what we saw happen at 2020 The Strand.  This listing is for the two adjacent homes there and had started off with guns blazing at $30 million.  It was just reduced to $27 million.

Have a great Fourth of July!

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Tags: Beachtime Realty, manhattan beach homes, manhattan beach strand, manhattan strand homes, south bay luxury homes, Tony Cordi