SURF CITY?
Forget Beverly Hills, Santa Monica and Malibu – Manhattan Beach is home to the most million dollar-plus home sales in the state.
Last year, 313 Manhattan Beach homes sold for $1 Million or more, up 86 percent from the 168 sold in 2001 and eclipsing the 304 sold in Beverly Hills and Santa Monica combinded, according to DataQuick Information Systems.
La Jolla, at 258, was second in the state in million-dollar home sales while Rolling Hills Estates, with 217, represented the next-highest figure in the county.
The surge is illustrative of a boom in housing prices across California, as nearly 14,000 million-dollar-plus transactions took place in the state last year, up 46 percent from the 9,500 in 2001.
It also reflects the teardown phenomenon that has occurred in the South Bay Community of 34,000 residents, where the median price for a home sold in 2002 was $850,000, up 17 percent from 2001, according to Dataquick. With an influx of sports and entertainment industry types, many of the three-bedroom, 1,300-1,500-square foot houses that proliferated in the 1940’s are being replaced by larger homes , according to Steve Goddard, manager at RE/MAX Beach Cities in Manhattan Beach.
“Whenever one of those comes available, that house goes down and up goes a 3,000-square-foot, four-bedroom,” said Goddard, who has been in Manhattan Beach for 30 years. “It’s occurring everywhere.”
(In 2002, there were approximately 708 properties sold in Manhattan Beach, 313 homes over $1 Million)
Record California Million-Dollar
Home Sales
Top 25
California Zip Codes
Ranked by the number of million-dollar homes sold in 2002
|
Community |
Zip Code |
2001 |
2002 |
2002's Most |
|
Manhattan Beach |
90266 |
168 |
313 |
$4.90 mill. |
|
La Jolla |
92037 |
180 |
258 |
$8.70 mill. |
|
Hillsborough |
94010 |
211 |
229 |
$8.50 mill. |
|
Newport Beach |
92660 |
155 |
218 |
$4.00 mill. |
|
Rolling Hills Estates |
90274 |
131 |
217 |
$9.90 mill. |
|
Pacific Palisades |
90272 |
123 |
210 |
$10.15 mill. |
|
Rancho Santa Fe |
92067 |
154 |
208 |
$12.80 mill. |
|
Saratoga |
95070 |
188 |
200 |
$7.60 mill. |
|
Beverly Hills |
90210 |
144 |
186 |
$7.50 mill. |
|
Brentwood |
90049 |
112 |
183 |
$5.75 mill. |
|
Los Altos |
94024 |
148 |
180 |
$3.95 mill. |
|
Calabasas |
91302 |
107 |
173 |
$3.00 mill. |
|
Del Mar |
92130 |
95 |
172 |
$3.80 mill. |
|
Laguna Beach |
92651 |
127 |
171 |
$14.00 mill. |
|
Danville |
94506 |
108 |
169 |
$2.48 mill. |
|
Alamo |
94507 |
88 |
159 |
$3.50 mill. |
|
Malibu |
90265 |
101 |
158 |
$10.59 mill. |
|
Trabuco/Coto |
92679 |
80 |
148 |
$3.35 mill. |
|
Mill Valley |
94941 |
109 |
146 |
$4.16 mill. |
|
Belvedere Tiburon |
94920 |
113 |
138 |
$5.90 mill. |
|
Newport Beach |
92657 |
107 |
132 |
$4.00 mill. |
|
Cupertino |
95014 |
107 |
122 |
$8.10 mill. |
|
Los Altos |
94022 |
97 |
121 |
$4.00 mill. |
|
Santa Monica |
90402 |
101 |
118 |
$5.75 mill. |
|
Los Gatos |
95030 |
75 |
116 |
$4.10 mill |
Indicators of market distress are still absent. Foreclosure rates are low, flipping rates are low, adjustable-rate mortgage usage is low, down payment sizes are stable and there have been no significant shifts in market mix, DataQuick reported.
Dan Byers presents
RE/MAX Beach Cities
From August 2001 to August 2002 of homes sold over $1 Million Dollars
|
Check out
SouthBayEstates.com
for dedicated resources for buying & selling higher end homes.
|
 |
Dan Byers RE/MAX Beach Cities  |
| RealEstateManhattanBeach.com | ||
| 1730 Voorhees Avenue, Manhattan Beach | $1,200,000 | |
| 1701 Elm Avenue, Manhattan Beach | $1,249,000 | |
| 232 20th Street, Manhattan Beach | $1,690,000 | |
| 228 8th Street, Manhattan Beach | $1,350,000 | |
| 1704 Highland Avenue, Manhattan Beach | $1,150,000 | |
| 1508 Pine Avenue, Manhattan Beach | $1,295,000 | |
| 3001 Agnes, Manhattan Beach | $2,025,000 | |
| 1807 5th Street, Manhattan Beach | $1,375,000 | |
| 1846 9th Street, Manhattan Beach | $1,030,000 | |
| 517 Pacific Avenue, Manhattan Beach | $1,100,000 | |
| 656 19th Street, Manhattan Beach | $1,650,000 | |
| 125 20th Place, Manhattan Beach | $1,149,000 | |
| 716 36th Street, Manhattan Beach | $1,075,000 | |
| 570 35th Street, Manhattan Beach | $1,174,122 | |
| 848 9th Street, Manhattan Beach | $1,930,000 | |
| 1130 22nd Street, Manhattan Beach | $1,121,000 | |
| 1701 Mathews, Manhattan Beach | $1,400,000 | |
| 2301 John Street, Manhattan Beach | $1,160,000 | |
| 1540 10th Street, Manhattan Beach | $1,550,000 | |
| 433 8th Street, Manhattan Beach | $1,000,000 | |
| 2200 Elm Avenue, Manhattan Beach | $1,060,000 | |
| 818 9th Street, Manhattan Beach | $2,000,000 | |
| 2517 Bayview Drive, Manhattan Beach | $1,299,000 | |
| 319 26th Street, Manhattan Beach | $1,815,000 | |
| 608 29th Street, Manhattan Beach | $1,300,000 | |
| 648 12th Street, Manhattan Beach | $1,150,000 | |
| 321 Poinsettia, Manhattan Beach | $1,345,000 | |
| 3108 Pine Avenue, Manhattan Beach | $1,500,000 | |
| 1616 Mathews, Manhattan Beach | $1,050,000 | |
| 1653 Mathews Avenue, Manhattan Beach | $1,240,000 | |
| 840 18th Street, Manhattan Beach | $1,900,000 | |
|
Check out
SouthBayEstates.com for dedicated resources for buying & selling
higher end homes.
|
|
|
| RealEstateHermosaBeach.com | ||
| 22 The Strand, Hermosa Beach | $1,975,000 | |
| 1929 Manhattan Avenue, Hermosa Beach | $1,011,000 | |
| 2116 Monterey Blvd., Hermosa Beach | $1,180,000 | |
| 424 31st Street, Hermosa Beach | $1,100,000 | |
| 1011 Manhattan Avenue, Hermosa Beach | $1,062,000 | |
| 3501 Manhattan Avenue, Hermosa Beach | $1,190,000 | |
| RealEstateRedondoBeach.com | ||
| 607 S. Gertruda, Redondo Beach | $1,200,000 | |
| 550 S. Helberta Avenue, Redondo Beach | $1,205,000 | |
| 410 Pasea De La Conche, Redondo Beach | $1,050,000 | |
| RealEstatePalosVerdes.com | ||
| 2615 Pinole Lane, Palos Verdes | $1,295,000 | |
| 653 Via Del Monte, Palos Verdes Estates | $1,787,500 | |
| 1315 Via Catalina, Palos Verdes Estates | $1,065,000 | |
| 38 Sail View Avenue, Rancho Palos Verdes | $1,325,000 | |
| 54 Nuvola Court, Rancho Palos Verdes | $1,314,000 | |
| 16 65th Avenue, Playa Del Rey | $1,250,000 | |
| 414 Linnie Canal, Venice | $1,500,000 | |
| 231 Howland Canal, Venice | $1,345,000 | |
| 824 Nowita Place, Venice | $1,150,000 | |
| 27 Union Jack Street #B, Marina Del Rey | $1,060,000 | |
| 114-116 Galleon Stree, Marina Del Rey | $1,090,000 | |
| 333 10th Street, Santa Monica | $1,470,000 | |
| 941 Stanford Street, Santa Monica | $1,105,000 | |
| 715 17th Street, Santa Monica | $1,750,000 | |
| 525 24th Street, Santa Monica | $1,675,000 | |
| 1212 San Vicente Blvd., Santa Monica | $1,185,000 | |
| 424 12th Street, Santa Monica | $1,300,000 | |
| 1510 San Vicente Blvd, Santa Monica | $1,120,000 | |
| 2223 Georgina Avenue, Santa Monica | $1,825,000 | |
| 21402 Marjorie Avenue, Torrance | $4,125,000 | |
| 6435 Riggs Place, Los Angeles | $1,225,000 | |
| 2500 Cliff Drive, Newport Beach | $1,505,000 | |
| 632 Amalfi Drive, Pacific Palisades | $2,660,000 | |
| 874 Chautaugua Blvd, Pacific Palisades | $1,250,000 | |
| 1000 Chautaugua, Pacific Palisades | $1,286,000 | |
| 311 N. Palm Drive, Beverly Hills | $1,095,000 | |
| 232 S. Canon Drive, Beverly Hills | $1,020,000 | |
| 216 S. Canon Drive, Beverly Hills | $1,070,000 |
|
Check out
SouthBayEstates.com
for dedicated resources for buying & selling higher end homes.
|
|
|
Tree Section * Hill Section * Sand Section * Manhattan Village * East Manhattan * Liberty Village * Manhattan Heights * El Porto
Real Estate Redondo Beach * Real Estate Hermosa Beach * Real Estate Palos Verdes
RE/MAX Beach Cities
866-326-2937 866-DAN-BYERS
310-908-SOLD!! Dan@DanByers.com