Are Price Cuts a Thing Now?

By Dave Fratello | August 9th, 2022

Just like you, we get all kinds of email property updates from searches that we've set up in the past.

Manhattan Beach, of course. But also Redondo, Palos Verdes, even some inland areas (perish the thought!).

It seems like this week, they're chock full of price cuts.

Cut, cut, cut, cut, new listing, cut, cut, cut, new, cut, cut.

But we're not really tracking Yorba Linda or PV here. This is a Manhattan Beach blog.

We checked, and the current 23 listings in Manhattan Beach with a price cut make up 36% of the inventory (63 listings).

In late July 2019, in a market that was clearly cooling, 49% of inventory had cuts.

In late July 2021, roughly one year ago, 34% of inventory had cuts. (See our "Tale of Two Markets" post from last year.)

So if we're at 36% of inventory with cuts today, that's not shocking, and not even at the level of a recently slow market.

In fact, the phenomenon of more cuts is pretty typical for Summer. While homes do sell during Summer, everything is often slower.

People are out doing other stuff, putting more sellers in a position of feeling that they need to mark down to attract buyers. (How are you going to get this woman to put down her book?)

The 36% figure, however, is a step up in price cuts from where the Manhattan Beach market stood, relatively speaking, in mid-June this year.

As we noted in our post, "More Price Cuts Now?," the media were reporting generally that LA County and Orange County sellers were increasingly cutting prices, but we found that the year-over-year trend in Manhattan Beach was the opposite. We had fewer listings with cuts.

Now, we don't have a direct August 9th-to-August 9th comparison, but it looks like we're basically even year-over-year. We'll check in again on this topic at mid-month or end-of-month, when we can more readily make comparisons using our past MB Market Update spreadsheets.

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You can keep up to date with all the latest from the Manhattan Beach market, including new listings, sales and price cuts, on the MB Dashboard (click "NOW" at the top of the page any time).

Just below, reading this post online, you'll see a constantly updated, MLS list of all homes in Manhattan Beach with price cuts, newest cuts listed first.

Please Note: The properties below are listed and brokered by a variety of agents and firms, not Dave Fratello or Edge, unless noted. Click on any image for full details. The name of the listing broker and agent for each property, along with any contact information supplied through the MLS, is displayed with each property.

Dream Location In This Beautifully Updated Home...

OPEN HOUSE

317 8th Street

Manhattan Beach, CA

  • 3 BR
  • 3 BA
  • 2,176 SqFt.
  • 2,695 Lot

$4,399,000

Active

DOM: 81

Price:
$4,399,000
BR/BA:
3br / 3ba
Sq. ft.:
2,176
Area:
142 - Manhattan Bch Sand
City:
Manhattan Beach
DOM:
81
ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 1421 12th Street 2 BD/BA 2br/3ba SQFT 1337 sqft LOT 7497 PRICE $1,225,000 $PSF $916 DOM 11 DOM START $ $1,250,000 START 09/15/22
Address 1143 23rd Street BD/BA 3br/2ba SQFT 1764 sqft LOT 5208 PRICE $2,149,000 $PSF $1,218 DOM 72 DOM START $ $2,395,000 START 07/14/22
Address 2415 Manhattan Avenue BD/BA 3br/5ba SQFT 4275 sqft LOT 2705 PRICE $10,500,000 $PSF $2,456 DOM 116 DOM START $ $10,995,000 START 06/02/22
Address 459 35th Street BD/BA 5br/4ba SQFT 3552 sqft LOT 2701 PRICE $4,199,000 $PSF $1,182 DOM 129 DOM START $ $7,500,000 START 05/20/22
Address 461 35th Street BD/BA 3br/1ba SQFT 1034 sqft LOT 2708 PRICE $2,599,000 $PSF $2,514 DOM 122 DOM START $ $2,999,000 START 05/27/22
Address 229 Seaview Street BD/BA 3br/4ba SQFT 1830 sqft LOT 2701 PRICE $2,570,000 $PSF $1,404 DOM 30 DOM START $ $2,700,000 START 08/27/22
Address 1747 2nd Street BD/BA 3br/2ba SQFT 1442 sqft LOT 6628 PRICE $2,295,000 $PSF $1,592 DOM 77 DOM START $ $2,395,000 START 07/11/22
Address 1170 Shelley Street BD/BA 4br/3ba SQFT 1858 sqft LOT 5343 PRICE $2,275,000 $PSF $1,224 DOM 32 DOM START $ $2,349,000 START 08/25/22
Address 3616 Elm Avenue BD/BA 3br/2ba SQFT 1714 sqft LOT 4854 PRICE $1,999,000 $PSF $1,166 DOM 61 DOM START $ $2,300,000 START 07/27/22
Address 219 N Dianthus Street BD/BA 4br/4ba SQFT 3300 sqft LOT 3352 PRICE $4,100,000 $PSF $1,242 DOM 31 DOM START $ $4,300,000 START 08/26/22
Address 323 S Aviation Boulevard BD/BA 3br/2ba SQFT 1524 sqft LOT 5296 PRICE $1,599,000 $PSF $1,049 DOM 53 DOM START $ $1,749,000 START 07/15/22
Address 513 N Dianthus Street BD/BA 3br/3ba SQFT 2770 sqft LOT 3250 PRICE $3,500,000 $PSF $1,264 DOM 45 DOM START $ $3,600,000 START 08/12/22
Address 200 S Poinsettia Avenue BD/BA 6br/6ba SQFT 5061 sqft LOT 6256 PRICE $7,700,000 $PSF $1,521 DOM 152 DOM START $ $7,999,999 START 04/27/22
Address 931 1st Street BD/BA 2br/1ba SQFT 948 sqft LOT 9595 PRICE $6,500,000 $PSF $6,857 DOM 74 DOM START $ $7,300,000 START 07/14/22
Address 308 Anderson Street BD/BA 4br/4ba SQFT 2632 sqft LOT 3251 PRICE $3,200,000 $PSF $1,216 DOM 75 DOM START $ $3,400,000 START 07/13/22
Address 235 N Dianthus Street BD/BA 5br/5ba SQFT 5152 sqft LOT 6501 PRICE $6,499,000 $PSF $1,261 DOM 221 DOM START $ $8,000,000 START 02/17/22
Address 817 Pacific Avenue BD/BA 3br/2ba SQFT 1510 sqft LOT 6254 PRICE $5,499,000 $PSF $3,642 DOM 137 DOM START $ $6,050,000 START 05/12/22
Address 114 N Poinsettia Avenue BD/BA 6br/6ba SQFT 6400 sqft LOT 6753 PRICE $8,499,000 $PSF $1,328 DOM 109 DOM START $ $9,200,000 START 06/09/22
Address 3000 The Strand BD/BA 3br/4ba SQFT 3949 sqft LOT 3514 PRICE $15,500,000 $PSF $3,925 DOM 131 DOM START $ $17,000,000 START 05/18/22
Address 400 10th Street BD/BA 4br/3ba SQFT 2964 sqft LOT 2711 PRICE $4,999,000 $PSF $1,687 DOM 45 DOM START $ $5,200,000 START 08/12/22
Address 400 10th Street BD/BA 4br/3ba SQFT 2964 sqft LOT 2711 PRICE $4,999,000 $PSF $1,687 DOM 45 DOM START $ $5,200,000 START 08/12/22
Address 3408 Maple Avenue BD/BA 5br/6ba SQFT 3620 sqft LOT 4640 PRICE $4,395,000 $PSF $1,214 DOM 60 DOM START $ $4,600,000 START 07/28/22
Address 317 8th Street BD/BA 3br/3ba SQFT 2176 sqft LOT 2695 PRICE $4,399,000 $PSF $2,022 DOM 81 DOM START $ $4,575,000 START 07/07/22
Address 917 Pacific Avenue BD/BA 5br/4ba SQFT 4200 sqft LOT 5261 PRICE $4,600,000 $PSF $1,095 DOM 103 DOM START $ $5,250,000 START 06/15/22
Address 216 4th Street BD/BA 3br/5ba SQFT 2754 sqft LOT 1350 PRICE $6,995,000 $PSF $2,540 DOM 69 DOM START $ $7,499,000 START 06/29/22
Address 327 36th Street BD/BA 3br/2ba SQFT 2221 sqft LOT 1351 PRICE $2,999,999 $PSF $1,351 DOM 126 DOM START $ $3,500,000 START 05/23/22
Address 113 S Dianthus BD/BA 3br/1ba SQFT 1194 sqft LOT 6250 PRICE $5,299,000 $PSF $4,438 DOM 104 DOM START $ $5,600,000 START 06/14/22
Address 845 11th Street BD/BA 5br/5ba SQFT 4315 sqft LOT 9938 PRICE $5,999,000 $PSF $1,390 DOM 189 DOM START $ $7,000,000 START 03/17/22

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