Half of MB Listings Have Price Cuts

By Dave Fratello | July 30th, 2019

It's Summer, a great time for the beach, but not always so hot in the local real estate market.

If you're trying to sell, you probably keep your listing active through the season, just in case.

But you might just get a bunch more DOM out of the Summer.

We took a look at the 128 active listings early Tuesday afternoon, and found as follows:

53 show a price cut on the current listing

10 more have re-listed, effectively hiding the fact that they previously had higher list prices

That's 63 out of 128, meaning 49% (oh come on, it's half!) of current Manhattan Beach listings have taken a price cut.

3416 The Strand Manhattan Beach CAThere's a cut on one of the highest-priced listings in town, 3416 The Strand (5br/5ba, 3950 sqft.), now at $11.995M after 443 DOM (wow).

There's a cut on one of the lowest-priced listings, 640 MB Blvd. #3 (2br/1ba, 835 sqft.), now at $849K.

There's a cut on one of the newest listings in town, 1823 5th (4br/2ba, 2315 sqft.), now $1.999M after 12 DOM.

There are cuts on 7 active listings with more than 300 DOM (some are re-lists, so really it's "combined" DOM over 300).

There are cuts on 22 out of 54 listings (41%) with 30-90 DOM.

Chances are, if you're looking at a Manhattan Beach listing right now, it is likely to have cut its price at some point.

Buyers, sitting on the sand waiting for the market to come to them, may feel more relaxed, and take just one more short snooze.

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UPDATE: By Weds. morning, the numbers moved, so that 66 active listings out of 128 had cuts, including cuts from a prior listing's price. That's 51.5%.

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