Most Expensive Home Sold in Manhattan Beach Last Year
Last year was a great year for homeowners (or, for that matter, anyone owning real estate) in the beach cities. Prices were up across the board for both single family homes and condo/townhomes in El Segundo, Hermosa Beach, Redondo Beach and Manhattan Beach.
For single family homes, the top city in terms of year-over-year price appreciation was Manhattan Beach, where the median home price jumped 18.6%, from $1,455,000 in 2012 (a number that had stayed pretty much flat since 2009) to $1,725,000. (Source: CRMLS).
Trailing Manhattan Beach was North Redondo (where the 2013 median sale price of $737,500 was an increase of 15.2% over 2012), South Redondo ($885,000, +7.6%), El Segundo ($850,000, +7.1%) and Hermosa Beach ($1,200,000, +2.4%).
In the condo/townhome category, the median sale price in Manhattan Beach "only" increased by 15.5% last year, from $1,125,000 in 2012 to $1,299,000 in 2013. We say 'only' because that percentage incease was only good for 4th place.
The winner in the condo/townhome category was El Segundo where the median last year rose 37.7% to $590,000, followed by Hermosa Beach ($994,500, +30%), South Redondo ($727,300, +24.7%), then Manhattan Beach and lastly North Redondo ($675,000, +12.5%).
It should be noted that the number of condo/townhome sales in El Segundo, Hermosa Beach and Manhattan Beach was relatively small, which can sometimes lead to wide variances in median sale price numbers. However, there were a substantial number of sales in both North and South Redondo and their median sales figures and annual percentage increases were a testament that this category saw a demand in 2013 that was the equal of single family homes.
You can read more about the real estate market in the beach cities in 2013, including the highest priced sale in each community (including the above-pictured Manhattan Strand home) by going to our blog post "Median Prices Climbed in All Beach Cities Last Year."
