Most of the Action is Cuts & Dropouts

By Dave Fratello | November 6th, 2018

714 N Dianthus Street Manhattan Beach CANovember is beginning to take shape as expected in the local real estate market.

More listings are either cutting or quitting than coming to market.

New deals are harder to come by.

Soon, the election will be over, Turkey Day will be upon us and much of the real estate market will go into a restless slumber.

In the past 7 days in Manhattan Beach, we have seen:

6 new listings

5 new deals (escrows)

12 price cuts (1 via re-listing)

5 listings dropping out, at least temporarily, by going "on hold," withdrawing or expiring

Pictured above is 714 N. Dianthus, new construction in the Hill Section, which just cut $200K in Week 4 on the market.

Here are the 12 most recent price cuts (email subscribers will need to view this post online to see the list and links):

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 2109 N Meadows Avenue BD/BA 5br/5ba SQFT 3448 sqft LOT 5003 PRICE $2,899,000 $PSF $841 DOM 25 DOM START $ $2,995,000 START 12/18/18
Address 3617 Pacific Avenue BD/BA 5br/6ba SQFT 2800 sqft LOT 5013 PRICE $1,999,000 $PSF $714 DOM 121 DOM START $ $2,195,000 START 04/11/18
Address 3311 Elm Avenue BD/BA 6br/7ba SQFT 5320 sqft LOT 8758 PRICE $4,990,000 $PSF $938 DOM 201 DOM START $ $5,250,000 START 06/26/18
Address 1713 Wendy Way BD/BA 2br/1ba SQFT 964 sqft LOT 5401 PRICE $1,299,995 $PSF $1,349 DOM 27 DOM START $ $1,349,990 START 12/23/18
Address 468 30th Street BD/BA 5br/6ba SQFT 4273 sqft LOT 2707 PRICE $4,499,000 $PSF $1,053 DOM 62 DOM START $ $4,695,000 START 10/25/18
Address 305 29th Street BD/BA 4br/4ba SQFT 3260 sqft LOT 3498 PRICE $3,750,000 $PSF $1,150 DOM 107 DOM START $ $3,999,000 START 10/04/18
Address 221 Homer Street BD/BA 4br/4ba SQFT 2671 sqft LOT 1714 PRICE $4,849,000 $PSF $1,815 DOM 177 DOM START $ $4,989,000 START 07/26/18
Address 915 Duncan Avenue BD/BA 5br/7ba SQFT 4637 sqft LOT 4998 PRICE $5,200,000 $PSF $1,121 DOM 247 DOM START $ $5,850,000 START 04/09/18
Address 27 Coronado Court BD/BA 2br/3ba SQFT 1583 sqft LOT 1884 PRICE $1,350,000 $PSF $853 DOM 108 DOM START $ $1,395,000 START 10/03/18
Address 544 1st Street BD/BA 3br/3ba SQFT 1589 sqft LOT 5392 PRICE $2,875,000 $PSF $1,809 DOM 66 DOM START $ $2,999,000 START 11/14/18
Address 3401 Maple Avenue BD/BA 5br/4ba SQFT 3237 sqft LOT 4646 PRICE $3,200,000 $PSF $989 DOM 186 DOM START $ $3,400,000 START 07/17/18
Address 1317 Gates Avenue BD/BA 3br/2ba SQFT 1518 sqft LOT 5098 PRICE $1,429,999 $PSF $942 DOM 74 DOM START $ $1,475,000 START 11/06/18

You can see every active listing with a price cut (newest first) on this page: Newest Price Cuts

We have noted this rule before. If you've got a listing out there in November/December, and you decide to keep it going, it's because you want to sell.

Some sellers finally begin to see in November that they may not have a deal yet because of price. Hence all the cutting.

If, as a seller, you don't like the environment at this point, you drop out or let the listing expire. Be ready to fight another day.

Sales are happening here and there, of course. It's not all crickets out there before Turkey Day.

Below are the most recently posted deals/new escrows.

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 1 Arbolado Court BD/BA 4br/3ba SQFT 3049 sqft LOT 4960 PRICE $2,399,000 $PSF $787 DOM 9 DOM START $ $2,399,000 START 01/10/19
Address 1300 18th Street BD/BA 2br/1ba SQFT 1350 sqft LOT 5476 PRICE $1,250,000 $PSF $926 DOM 5 DOM START $ $1,250,000 START 01/10/19
Address 1117 Pacific Avenue 6 BD/BA 2br/2ba SQFT 866 sqft LOT 6901 PRICE $849,000 $PSF $980 DOM 52 DOM START $ $849,000 START 11/28/18
Address 125 20th Place BD/BA 3br/4ba SQFT 1938 sqft LOT 2710 PRICE $2,985,000 $PSF $1,540 DOM 46 DOM START $ $2,985,000 START 12/04/18
Address 3529 Oak Avenue BD/BA 3br/3ba SQFT 2029 sqft LOT 4648 PRICE $1,799,999 $PSF $887 DOM 18 DOM START $ $1,799,999 START 01/01/19
Address 1551 Artesia Boulevard 2 BD/BA 3br/3ba SQFT 1800 sqft LOT 6730 PRICE $949,990 $PSF $528 DOM 159 DOM START $ $1,099,990 START 07/25/18

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