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Get used to it: big houses crammed onto little lots, new money driving out laid-back beach attitude, no parking, narrow streets, cool breezes and ocean views -- Manhattan Beach is a market unto itself. And the closer to the beach, the stronger the market. ‘I think the market’s been pretty stable the last six months,’ Realtor Kaye Thomas told me today. ‘The premium properties have actually gone up just a little bit in price.’

Teardown prices on the Strand are in the $6 million range; one nice lot recently sold for $9.5 million, Thomas said. You can find a house under $1 million, east of Sepulveda, if you are lucky. Where is the money coming from? ‘It’s from everywhere. The movie industry -- and not just the stars. Software people, dot-com people. Trust fund babies.’

The ‘soft spot’ in this market, Thomas says, is the $2 million to $3 million range, where roughly 40 homes are on the market -- prospective buyers often waiting to sell their house before buying another. Inventory in that price range, Thomas says, ‘is just kind of sitting.’

The buyer here is a picky buyer: They don’t want Hermosa, they don’t want Redondo. ‘People who want Manhattan Beach want Manhattan Beach,’ Kaye said.

Pictured: 2311 Poinsettia Avenue, 3400-square foot, 5 bedroom, listed at $2.149 million
Kaye Thomas: www.BeachCityRealEstateInfo.blogspot.com
Kaye’s other blog: http://activerain.com/blogs/sthomkay