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):

This Home Has Been Refreshed With A New Look. ...

RECENT PRICE CUT

3311 Elm Avenue

Manhattan Beach, CA

  • 6 BR
  • 7 BA
  • 5,320 SqFt.
  • 8,758 Lot

$4,895,000

Active

DOM: 280

Price:
$4,895,000
BR/BA:
6br / 7ba
Sq. ft.:
5,320
Area:
Tree Section
City:
Manhattan Beach
DOM:
280
ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 3009 Crest Drive BD/BA 3br/3ba SQFT 1593 sqft LOT 1757 PRICE $2,790,000 $PSF $1,751 DOM 63 DOM START $ $2,990,000 START 02/19/19
Address 1030 2nd Street BD/BA 3br/2ba SQFT 1877 sqft LOT 4305 PRICE $1,899,000 $PSF $1,012 DOM 26 DOM START $ $1,999,000 START 03/28/19
Address 612 Anderson Street BD/BA 3br/3ba SQFT 1707 sqft LOT 3250 PRICE $2,399,000 $PSF $1,405 DOM 18 DOM START $ $2,500,000 START 04/05/19
Address 3305 Pine Avenue BD/BA 5br/7ba SQFT 5715 sqft LOT 9282 PRICE $7,000,000 $PSF $1,225 DOM 75 DOM START $ $7,800,000 START 02/07/19
Address 212 18th Street BD/BA 5br/6ba SQFT 4269 sqft LOT 2703 PRICE $6,390,000 $PSF $1,497 DOM 108 DOM START $ $6,980,000 START 01/05/19
Address 836 14th Street BD/BA 3br/2ba SQFT 1584 sqft LOT 4983 PRICE $1,995,000 $PSF $1,259 DOM 62 DOM START $ $2,400,000 START 02/20/19
Address 3311 Elm Avenue BD/BA 6br/7ba SQFT 5320 sqft LOT 8758 PRICE $4,895,000 $PSF $920 DOM 280 DOM START $ $5,250,000 START 06/26/18
Address 1148 N Poinsettia Avenue BD/BA 3br/3ba SQFT 1977 sqft LOT 4470 PRICE $1,650,000 $PSF $835 DOM 92 DOM START $ $1,999,000 START 01/21/19
Address 709 26th Street BD/BA 5br/6ba SQFT 5121 sqft LOT 5120 PRICE $4,695,000 $PSF $917 DOM 29 DOM START $ $4,795,000 START 03/25/19
Address 549 3rd Street BD/BA 5br/6ba SQFT 4000 sqft LOT 2692 PRICE $4,890,000 $PSF $1,223 DOM 34 DOM START $ $4,990,000 START 03/20/19
Address 508 Larsson Street BD/BA 5br/6ba SQFT 4680 sqft LOT 6877 PRICE $3,695,000 $PSF $790 DOM 48 DOM START $ $3,895,000 START 02/07/19
Address 1450 5th Street BD/BA 6br/5ba SQFT 4317 sqft LOT 7504 PRICE $3,585,000 $PSF $830 DOM 68 DOM START $ $3,649,000 START 02/14/19

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 416 Marine Place BD/BA 3br/4ba SQFT 2271 sqft LOT 2701 PRICE $2,250,000 $PSF $991 DOM 55 DOM START $ $2,250,000 START 02/27/19
Address 465 28th Street BD/BA 3br/3ba SQFT 1987 sqft LOT 2702 PRICE $2,699,000 $PSF $1,358 DOM 26 DOM START $ $2,699,000 START 03/28/19
Address 1846 10th Street BD/BA 5br/5ba SQFT 4386 sqft LOT 7502 PRICE $2,300,000 $PSF $524 DOM 283 DOM START $ $2,300,000 START 07/10/18
Address 329 4th Street BD/BA 3br/2ba SQFT 1700 sqft LOT 2711 PRICE $3,999,999 $PSF $2,353 DOM 9 DOM START $ $3,999,999 START 03/05/19
Address 1500 6th Street BD/BA 5br/5ba SQFT 4273 sqft LOT 6101 PRICE $2,675,000 $PSF $626 DOM 124 DOM START $ $2,750,000 START 12/12/18
Address 300 N Meadows Avenue BD/BA 4br/3ba SQFT 2183 sqft LOT 9244 PRICE $2,649,000 $PSF $1,213 DOM 11 DOM START $ $2,649,000 START 04/08/19

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