Your question is pretty encompassing which is why I suppose you have not received many answers. Let me see if I can highlight some answers.
The "Hill" section has increased tremendously in value over the last 10 years relative to other Manhattan Beach homes primarily because of the lot sizes. This area has had tremendous building potential as a result of its large lots and potential ocean views. Indeed some to the most exquisite and expensive houses in Manhattan Beach are in this section.
The "Tree" section on average has lot sizes near the 5,000 sq.ft. mark. The area is with its "Trees" and lack of curb type sidewalks is unique. This area on average has prices that are less expansive than the "Sand" or "Hill" sections.
The "Sand" section which is the area approximately 1/4 from the water has the smallest and usually the densest lots. This area however represents some of the most expensive per square footage in Los Angeles County. Its value always outpaces all other areas.
East Manhattan, which is approximately 1 mile from the water, also has larger lots and is more symmetrical in its neighborhood layout than most of the other parts of Manhattan. On average this is the most economical area of Manhattan Beach again relative to the rest of the City.
I have sold property in this area for nearly 10 years and have lived her for over 30, so please feel free to contact me for more information and or updates on what this market is doing.
The Hill Section of Manhattan Beach boasts of panoramic views of South Bay and the city. Pricing in the Hill Section ranges from 900,000 to 5.5Million.
The answers here about boundries, pricing, etc. relative to Manhattan Beach are pretty well detailed below. The next step would be to get pre-qualified for a home loan so you can see exactly how far your purchasing dollar will go.
From there, get yourself a solid Buyer's Agent who can help you locate the best buys and the right home for you. If I can be of assistance, please call me anytime in my Manhattan Beach office at (310) 802-5736.
For detailed information (pictures, boundaries, zoning information, pricing, characteristics) about the different neighborhoods in Manhattan Beach please visit http://www.bestmanhattanbeachhomes.com/neighbor.htm
ManhattanBeachRE.com - it will give you detailed information on all areas of the city, including the boundaries. You can also search the MLS directly from the site. It is very user friendly and breaks the search up into the Hill, Tree, Sand section, etc. The site also has a lot of information on life in MB in general.
I used to live in the Hill Section so i can vouch personally for how terrific it is. This is the area of MB where many of the larger estate homes are and the lots can be larger than elswhere in the city (at a price premium).
Pricing...Like for like The Strand is the most expensive as you would expect, being beachfront property. The Hill Section would be next, though parts of the Sand Section are comparable. The Walkstreets are very desirable but on very small lots. Of the areas you mention the Tree Section offers the best value. Don't forget to consider East Manhattan (East of Sepulveda) for even better values.
Hope this helps and good luck!
Sand Section offers closer proximity to beach, lot sizes of 30x90, more vertical living. @ 2,000 sf townhouses are regular options in the sand section.
Tree Section, @ 4,800sf lots (typically 40'x wide), some areas walking distance to town.
Hill Section, larger lots with views (walking distance to town). Offers best of both worlds, with large lots and proximity to beach. Estate homes, with some of the most valuable property in town.
East MB, offers 5,000-7,500sf lots, providing more yard space and larger homes. Often the choice of larger families, and more privacy. East of PCH.
In general, lots get larger as you move away from the ocean.
For specific boundaries, and more descriptions, go to my site http://www.dunhamstewart.com and click on specific link for MB (Sand, Hill etc..)
Hope this is of assistance.