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.
|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|
|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
|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|
|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|
|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