New Construction & Strand Properties: Looking Back at DIGS’ interview with James Sanders

Soaring Strand Prices

In May of this year, you probably saw South Bay DIGS’ video interview with James Sanders, co-owner of RE/MAX Estate Properties. If you didn’t, check it out above. We learned about James’ upbringing in the real estate world alongside his mother, brother and sister, and the once-upon-a-time beginnings of our RE/MAX franchise. Now with over 700 agents in 18 offices, the family business has only become stronger with age.

 

James noted recent trends in the Coastal Housing Market in Los Angeles (as of May 2016). One observation he discussed was the surge of new construction and remodeling in the last 3-4 years. This picture comes in stark opposition to the building scene (or complete lack thereof) during the 2008 market crash.

 

“You drive down the street and there’s construction going on, pretty much on every block. And that’s happening up and down the coast”, James comments. We’ve pulled together some data to give you an in-depth digest of new construction sales and pricing in some of the coastal cities. The charts below incorporate data from closed sales of new construction starting from June 1, 2016 through yesterday, August 18, 2016.

 

Manhattan Beach

Type Address City Area Sold Price DOM
SFR/D 4101 Crest DR MANH 142 $2,800,000 39/39
SFR/D 221 Homer ST MANH 142 $4,467,532 43/99
SFR/D 516 4th ST MANH 142 $5,250,000 85/85
SFR/D 441 3rd ST MANH 142 $5,350,000 67/292
SFR/D 756 36th ST MANH 143 $2,945,000 33/161
SFR/D 2008 John ST MANH 143 $3,925,000 116/116
SFR/D 528 15th ST MANH 143 $6,800,000 28/28
SFR/D 1304 Lynngrove DR MANH 146 $2,599,000 130/359
SFR/D 1611 18th ST MANH 146 $2,699,000 48/48

Hermosa Beach

Type Address City Area Sold Price DOM
SFR/D 401 31st ST HMB 148 $3,200,000 13/19
SFR/D 2215 Manhattan AV HMB 148 $4,575,000 0/0
SFR/D 717 24th ST HMB 149 $4,570,000 90/189
SFR/D 1230 1st ST HMB 150 $2,140,000 175/175
SFR/D 1312 Owosso AV HMB 150 $2,390,000 50/96

Redondo Beach *search included area 128

Type Address City Area Sold Price DOM
SFR/D 2022 Robinson ST REDO 151 $1,690,000 0/0
SFR/D 511 N Paulina AV REDO 155 $1,775,000 96/96
SFR/D 327 Avenue F REDO 156 $3,100,000 76/76
CONDO/A 1500 Esplanade #C REDO 157 $3,550,000 224/224
CONDO/A 1500 Esplanade #E REDO 157 $3,725,000 274/274

Venice

Type Address City Area Sold Price DOM
SFR/D 639 Mildred Ave VEN C11 $2,550,000 43/43
SFR 520 BROADWAY ST VEN C11 $2,750,000 182/182
SFR/D 1102 AMOROSO PL VEN C11 $3,035,000 20/20

Santa Monica

Type Address City Area Sold Price DOM
SFR 2642 32ND ST SM C14 $2,800,000 77/77
SFR/D 2606 32ND ST SM C14 $3,795,000 37/37
SFR 219 23RD ST SM C14 $6,320,000 43/43

Additionally, using the same timeframe and cities, we found a generous number of Active new construction properties. In Manhattan Beach, we found a total of 6 properties, with an average price of $3,791,000 and median price of $3,474,500. Hermosa Beach has 5 properties, with an average price of $3,154,000 and median price of $2,599,000. Redondo matches Hermosa at 5 active properties and shows an average price of $2,309,000 and median price of $2,200,000. Going North, Venice boasts a considerable 9 active new constructions, with an average price of $3,076,000. Lastly, Santa Monica has 4 properties with an average price of a whopping $5,423,000.

 

James also highlighted individual properties on The Strand; the epitome of “beach living”. These ocean-front, luxurious properties sit on some of the most coveted land in Southern California. Of course, with such great desirability, comes an equally great price tag. Check out information about sold Strand properties from this year in the table below.

 

Sold Strand Properties in 2016

Type Address City Area Sold Price Yr Built
CONDO/A 1318 The Strand MANH 142 $3,000,000 1963/APP
CONDO/A 1514 The Strand HMB 148 $1,450,000 1977/ASR
SFR/D 3410 The Strand HMB 148 $6,450,000 2006/ASR
SFR 3330 The Strand HMB 148 $8,000,000 1954
RINC 17 7th ST HMB 148 $3,675,000 1952

*Based on information from CRMLS and/or CARETS as of August 10, 2016 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by CRMLS and/or CARETS.  The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

 

Click Here to see James Sanders’ full interview with South Bay DIGS

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