Price Cuts Are Where the Action Is

By Dave Fratello | November 9th, 2017

224 32nd Street Manhattan Beach CAThis is the way the late season may continue...

In the past 7 days in Manhattan Beach:

7 new listings

10 new deals (escrows)

16 price cuts (3 via re-listings)

Yes, that's more than twice the number of existing listings making cuts than the market saw in new inventory.

Here are the 9 most recent cuts (email subscribers will probably need to view this post online to see the list):

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 461 26th Street BD/BA 0br/0ba SQFT 100 sqft LOT 2698 PRICE $2,795,000 $PSF $27,950 DOM 89 DOM START $ $2,999,000 START 02/22/19
Address 1801 6th Street BD/BA 4br/5ba SQFT 3219 sqft LOT 4952 PRICE $2,999,000 $PSF $932 DOM 70 DOM START $ $3,295,000 START 08/02/18
Address 2722 N Ardmore Avenue BD/BA 5br/6ba SQFT 5036 sqft LOT 5010 PRICE $4,795,000 $PSF $952 DOM 28 DOM START $ $4,999,000 START 04/23/19
Address 1215 Fisher Avenue BD/BA 5br/7ba SQFT 5400 sqft LOT 3000 PRICE $6,995,000 $PSF $1,295 DOM 26 DOM START $ $7,295,000 START 04/26/19
Address 653 Manhattan Beach Boulevard C BD/BA 2br/3ba SQFT 1357 sqft LOT 12019 PRICE $1,429,900 $PSF $1,054 DOM 27 DOM START $ $1,449,900 START 04/25/19
Address 3621 Alma Avenue BD/BA 4br/3ba SQFT 2515 sqft LOT 1497 PRICE $2,395,000 $PSF $952 DOM 101 DOM START $ $2,595,000 START 02/09/19
Address 3026 N Ardmore Avenue BD/BA 3br/2ba SQFT 1577 sqft LOT 2399 PRICE $1,662,500 $PSF $1,054 DOM 61 DOM START $ $1,685,000 START 03/21/19
Address 409 3rd Street BD/BA 5br/6ba SQFT 4173 sqft LOT 2705 PRICE $5,495,000 $PSF $1,317 DOM 47 DOM START $ $5,795,000 START 04/04/19
Address 420 23rd Pl BD/BA 3br/4ba SQFT 2345 sqft LOT 0 PRICE $2,399,000 $PSF $1,023 DOM 33 DOM START $ $2,479,000 START 04/18/19
Address 608 29th Street BD/BA 4br/3ba SQFT 2976 sqft LOT 4801 PRICE $2,999,999 $PSF $1,008 DOM 237 DOM START $ $3,249,000 START 09/26/18
Address 221 1st Street BD/BA 3br/4ba SQFT 2008 sqft LOT 2703 PRICE $3,949,000 $PSF $1,967 DOM 96 DOM START $ $3,999,000 START 02/14/19
Address 222 1st Place BD/BA 3br/4ba SQFT 2008 sqft LOT 2703 PRICE $3,699,000 $PSF $1,842 DOM 96 DOM START $ $3,749,000 START 02/14/19

(The listing photo featured at the top is for 224 32nd, recently down to $4.500M.)

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

The reason for this may seem obvious. 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. As a seller, you have to show buyers something. The time for waiting for people to come to you is past.

We're not going to sell short the volume or quantity of sales happening recently, though.

We already noted in our market update for Oct. 16-31 that there was a good sales pace for the period.

Below are the most recently posted deals/new escrows. (Email subscribers will probably need to view this post online to see the list.)

Yes, there are buyers out there.

ADDRESS BD/BA SQFT LOT PRICE $PSF DOM START $ START
Address 1150 N Rowell Avenue BD/BA 3br/4ba SQFT 1960 sqft LOT 8004 PRICE $1,599,000 $PSF $816 DOM 61 DOM START $ $1,799,000 START 03/21/19
Address 755 31st Street BD/BA 4br/5ba SQFT 4055 sqft LOT 5012 PRICE $3,250,000 $PSF $801 DOM 56 DOM START $ $3,500,000 START 03/27/19
Address 2614 Pacific Avenue BD/BA 4br/4ba SQFT 3000 sqft LOT 4480 PRICE $2,649,000 $PSF $883 DOM 13 DOM START $ $2,649,000 START 05/08/19
Address 1320 9th Street BD/BA 6br/7ba SQFT 4900 sqft LOT 7512 PRICE $4,250,000 $PSF $867 DOM 8 DOM START $ $4,250,000 START 05/13/19
Address 614 The Strand BD/BA 4br/3ba SQFT 2128 sqft LOT 3406 PRICE $13,000,000 $PSF $6,109 DOM 76 DOM START $ $13,000,000 START 03/04/19
Address 432 23rd Place BD/BA 3br/4ba SQFT 2124 sqft LOT 3366 PRICE $1,935,000 $PSF $911 DOM 117 DOM START $ $1,999,000 START 01/24/19

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