Most Expensive Home Sales of 2016 in The South Bay

2016 can best be described as a year of ups and downs. For most, hopefully the year was dominated by a series of "ups." Unlike previous years in the South Bay, home values did not skyrocket at astonishing rates. Instead, home values steadily went up, at a reasonable rate. Part of this can be attributed to lack of inventory, market uncertainty (election year), and threats of higher interest rates. That being said, 2016 was still a prosperous year in the world of high-end, luxury real estate, and the South Bay was no stranger to the wave that is luxury real estate home sales. Here are the top 5 sales of the year in South Bay. 

1. 104 The Strand, Manhattan Beach 90266

5 Bed | 5 Bath | 3 Powder Room | 6,123 SF | 3,330 SF lot | Sold for $18,400,000

Coming in hot at the top highest sale, is none other than this gorgeous, contemporary home located on the Strand of Manhattan Beach. This property was so well designed, and adequately located, that it sold pre-construction. The company I am a part of, Chhabria Real Estate, worked closely with the developer, and managed the construction of the property. My broker, Raju Chhabria, representer the seller on the sale.

Sleek lines, a wine room, a bar, a state-of-the-art home theater and 3-car garage with lift helped make this home the top sale of the year. 

2. 201 Rosita Place, Palos Verdes Estates 90274

4 Bed | 3 Bath | 2 Powder Room | 3,620 SF | 65,645 SF Lot | Sold for $11,950,000

The second highest sale of the year, "Casa Felicia" can best be described as a slice of history. This Spanish Estate sits on a massive 65,645 square foot lot, and boasts nearly 270 feet of ocean frontage. Built in 1925, it is certainly a cliffside gem. 

With perennial vistas from PV to Santa Monica, its no wonder this historic property was sold in under a month. 

3. 601 Via Del Monte, Palos Verdes Estates, 90274

5 Bed | 5 Bath | 2 Powder Room | 6,000 SF | 13,480 SF Lot | Sold for $10,000,000

Built 2010, this property embodies the charm and sophistication of Malaga Cove. Featuring amazing queens' necklace views, high ceilings, and two kitchens, it's no surprise that this house was quickly snapped up by buyers and sold in less than 2 months. Sold @ $1,666/ square foot, this brings a whole new level of goals for homeowners, developers, and builders alike, along the Via Del Monte street and within the Malaga Cove area. 

4. 125 2nd ST, Manhattan Beach, 90266

4 Bed | 4 Bath | 1 Powder Room | 4,258 SF | 2,702 SF Lot | Sold for $9,241,000

South Manhattan Walk Street, check. Recently built - 2014, check. Indoor/Outdoor living complete with Fleetwood Doors and Windows, check. This home boasts a whole lot of what buyers in the $8,000,000 + range are looking for in the South Bay. A combination of location, along with a graceful blend of indoor/outdoor living helped this home make the top 5 sales of the year in South Bay. 

5. 200 16th ST, Manhattan Beach, 90266

4 Bed | 4 Bath | 1 Powder Room | 4,150 SF | 2,710 SF Lot | Sold for $9,000,000

The coveted walkstreets of Manhattan beach are no stranger to expensive home sales, and this newly-built, modern Cape inspired home is no exception. Wide plank oak flooring, Vantage lighting controls, and functional indoor/outdoor living space are just a few of the many features this home offers. 

Well, that wraps up the top 5, most expensive home sales in the South Bay for the year 2016. If you missed out on a few of these buys, don't worry, I'm here to guide you in finding something that is available! 



How long does it take a home to sell "Behind the Gates?"

The highest cumulative days on market were well over 350 days back in January of 2014. Currently, as we near November, we have seen a steady decrease in average days on market in Rolling Hills. The Average Days on Market have gone from nearly 200 days in June, to roughly 72 days on the market in October of 2016. Overall, we are seeing increased activity on homes behind the gates. Will we see continued activity through the end of Q4? If my predictions are correct, I imagine there will more activity and less days on the market throughout the rest of the year.