DOM Champs of 2020

By Dave Fratello | December 8th, 2020

Sometimes a listing gets stuck on the market.

It sits. And sits. Maybe everyone simply forgets it's for sale.

It's a unique property. Or a challenged property. Or a high price point, with fewer buyers. Or just too high a price. Or the seller is not really a seller "unless they get their number" (real estate agent code for "highly unrealistic"). Or something else is going on, and the property is simply not a match for any buyer.

The computers don't care. They just keep counting Days on Market (DOM). And, if the listing cancels for a quick bogus re-list, or switches to a new agent, the computers count Combined Days on Market (CDOM) across multiple listings.

Below is a list of the highest DOM/CDOM listings in Manhattan Beach so far this year. With 3 weeks remaining in the year, not a lot can change the ordering.

We'll group the highest DOM listings by their current status.

Canceled Listings

550 4th (5br/3ba, 2860 sqft.) is on the corner at Valley and the 4th St. walkstreet.

The imposing brick mid-century building certainly has a vibe about it. Inside, it's got a groovy 60s modern/minimalist aesthetic, accentuated by the way most listings of the property have shown it with just one or two pieces of furniture per room, if any.

On the one hand, they want to show you a "Mad Men" vibe. On the other, they want you to see a "blank slate." And no one seems to be spending any money on staging.

Outside, there are no windows at all on the Valley side, to insulate the residents from traffic noise.

The property has been available often, under 4 different listings going back to June 2016.

The latest listing crested at 536 DOM before canceling Monday. It was always at $3.250M since June 2019, close to land value.

That 536 DOM was enough to win this category, though one listing (see below) exceeded that total briefly this year before ultimately selling.

1000 The Strand (4-plex, ~6000 sqft., ~5000 sqft. lot) is a landmark property near the pier.

The huge quadraplex boasts a prime pier-view location and a lot that is nearly double the standard 2700 sqft.

Last time this property launched, in June 2015, they began at $28.900M. (See: "$29M? Can We Talk?") Over 2 years, the market worked on that price and it closed for $21.000M in mid-2017.

But by early 2019, it was back, asking $25.900M.

The listing accrued 401 DOM before canceling in April this year.

Sold Listings

Don't give up hope, they said.

Here are a few listings that ran super long, but never did stop hoping, and found a willing buyer.

811 1st Street Manhattan Beach CA811 1st (3br/2ba, 1600 sqft.) is a Hill Section cottage on a smallish (~5100 sqft.) lot near Ardmore.

Charming but overpriced, the home needed time to find the right buyer.

With a start at $3.250M in April 2019, the listing only got serious about cutting as it appeared to be "too late," with one cut in January this year and a big one ($300K) in March, after the (first) stay-at-home orders had been imposed for COVID-19.

Four months later, there was a deal, leading to a sale in August this year at $2.669M. That was $581K and 18% below the original price, hinting as to what took so long.

1801 6th Street Manhattan Beach CA1801 6th (4br/5ba, 3220 sqft.) is new construction on a corner in East MB.

This one came hot out of the gates in March 2019 at $3.295M, somewhat obviously a reach for an East Manhattan home on a ~5000 sqft. lot.

The listing lingered and cut about $400K before reaching 351 DOM in Feb. 2020, when it canceled. It was that 351 DOM that put it near the top for DOM for this year.

It restarted, improbably, in escrow at a higher price in March, lost that deal, made a new one, and closed in July 2020 for $2.620M, with only 6 DOM tolled on the new listing.

2818 N Ardmore Avenue Manhattan Beach CA2818 N. Ardmore (5br/5ba, 3500 sqft.) didn't need a full year to sell, but it was close.

The 2001 Mediterranean was refreshed and straightforward. Location was the obvious challenge.

They tried to catch the Fall 2019 market with a post-Labor Day listing, starting at $2.799M.

Instead, they caught the end-of-Summer-2020 market, soon after a cut to $2.625M.

Final sale price: $2.600M.

Final DOM count: 349.

Just behind was 2304 The Strand (3br/3ba, 2350 sqft.), which also took almost a year to sell.

Final DOM count: 335.

The 1965 original launched early in 2019 at $9.950M, but it closed up $2.550M and 26% lower at $7.400M.

Side note: We got some pushback for daring to mention that both this one and 3004 The Strand had each closed far under asking in our June post, "Past 2 Strand Sales Far Under Start Prices." Heaven forbid Dave suggests there could maybe be a notable trend. The next two Strand sales, amazingly, also fell far short of their start prices: 2722 The Strand ($17.750M, -$5.000M from start) and 1804 The Strand ($10.500M, -$8.000M from start). But don't worry, we're not suggesting a trend. These are four completely isolated data points, each with their own complex dynamics. Nothing to see here.

Pending Sales

235 4th Street Manhattan Beach CA235 4th (4br/6ba, 4135 sqft.) is a nearly new home on a corner lot, top of the walkstreet at Highland.

It's newly in escrow, and the current version of the listing, with a new agent this year, tolled only 88 DOM before a purchase contract was signed.

But earlier in the year, a prior listing, which had begun in Feb. 2019, crested at 548 DOM, the highest total seen this year in Manhattan Beach.

Some of those extra days tolled after an October 2019 deal was made for the property. We hear tell that it was some sort of convoluted rent-to-buy or lease-option deal that was never fully consummated. Because the property remained listed as "Active Under Contract," days accrued.

That failed sale led to a failed listing that canceled in late August, with the new agent taking over just after Labor Day, the new listing asking $7.250M when a deal was inked this week.

Active Listings

224 16th Street Manhattan Beach CA224 16th (5br/5ba, 4225 sqft.) is a refreshed early 90s walkstreet Mediterranean near downtown. The current asking price is $6.875M, down from a start near $7.300M.

It's got the highest DOM count among active listings in the Manhattan Beach market now at 479 DOM, dating back to Aug. 2019.

Indeed, if we go all the way back to its debut on market in June 2018, there are a combined 913 days on market (!). And it's legit to count that way, since there was a break of just 2 days between listings of the same property by the same agent.

Only one listing in the local market has had more CDOM than 224 16th, curiously also a listing on 16th: 127 16th. That walkstreet cottage began in July 2017 and, in two listings, lasted till March this year, when it hit 974 CDOM as it quit.

116 4th Street Manhattan Beach CA116 4th (4br/5ba, 4225 sqft.) is a Strand-adjacent walkstreet Mediterranean on the corner at Ocean Drive.

The suitably glamorous property has some unobstructable views and a timeless elegance, if you will.

Seems like only yesterday, or a very long time ago, when we first showed this property while it carried its starting price of $15.900M.

Now, after racking up 461 DOM, it's priced much closer to what our buyer at the time was willing to pay, asking $10.900M.

Obviously the conversation with that buyer didn't go anywhere at the time, but here it is, the listing trying to find its level at last.

2016 Ocean Drive Manhattan Beach CA2016 Ocean Drive (5br/6ba, 5740 sqft.) is a truly glamorous new construction modern, also on a walkstreet corner at Ocean Drive. (It's in the name.)

The home's buttoned up, tight, nicely designed and outfitted, with unobstructed views, a near-downtown location and plenty to recommend it.

But with an unchanging $14.000M asking price, it's in a separate market tier, actually higher than some recent Strand sales (don't worry, there's no trend on The Strand), which may be part of why this listing is up to 455 DOM at this point, dating back to Sept. 2019.

Also, while we're looking at high-DOM listings, we'll mention a couple more that have re-listed and have high CDOM counts, regardless of the pure DOM counts.

3400 The Strand Manhattan Beach CA3400 The Strand (5br/6ba, 5500 sqft.) is a 2005-built warm modern on a corner. (On The Strand, you say?)

It's now on its 3rd listing (2 agents) dating back to July 2018, when it launched at $19.300M.

The current version of the listing is a re-boot with the same agent who got the gig in Aug. 2019, with the current 273 DOM dating to March 2020. Price is down to $14.900M.

Combined Days on Market for all 3 listings: 856.

577 31st Street Manhattan Beach CAMeantime, in the Tree Section, new construction at 577 31st (5br/6ba, 4400 sqft.) is lingering.

It launched at $4.799M in March 2019, basically the same as next-door neighbor 575 31st had just sold for ($4.775M) in mid-2018. The first listing for 577 ran a year, before a re-list in May 2020.

It's now at 578 CDOM.

The price is recently down to $4.299M. The listing is notable in part because it's one of only 3 active listings in the Trees over 200 DOM (it's at 206). The others are also unsold new construction (617 31st and 724 13th).

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UPDATE: Several hours after this post went live, 724 13th quit the market.

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