Manhattan Strand Home Update – 9/11

Posted on 04. Oct, 2011 by Tony Cordi in Manhattan Beach

After a very slow August, we are seeing a modest pick up in real estate activity on the Manhattan Beach strand.  We started the month with four active listings and now stand at just two.  The home at 2504 (see photo) went into escrow after a drop in price from about $7.2 million down to just under $6 million after spending a total of seven months on the market.  The other change from the beginning of the period was that listing for 1712 The Strand was canceled.  Often times with strand properties we see homes pulled from the market and sold in off-market transactions to elude the MLS system.  As of this writing the home at 1712 has not changed hands in a private sale, at least not yet.

2504 The Strand - In Escrow

In the course of the last month, the home at 308 The Strand went on the market only to be pulled off within a week.  I checked to see if it exchanged hands in a private sale and it has not thus far.

Finally, the homes at 2016 and 2020 The Strand, which are being sold together, have had another downward price adjustment.  They started out over eight months ago at $30 million and are now priced at $24.9 million.  I have a hunch we’ll see more adjustments if it continues to stay on the market.

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