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 3311 Elm Avenue BD/BA 6br/7ba SQFT 5320 sqft LOT 8758 PRICE $4,990,000 $PSF $938 DOM 198 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 24 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 59 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 104 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 175 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 244 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 105 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 63 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 183 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 72 DOM START $ $1,475,000 START 11/06/18
Address 3208 Pacific Avenue BD/BA 4br/3ba SQFT 3180 sqft LOT 4484 PRICE $2,549,000 $PSF $802 DOM 91 DOM START $ $2,650,000 START 10/17/18
Address 1150 Manzanita Lane BD/BA 3br/2ba SQFT 1489 sqft LOT 6067 PRICE $1,365,000 $PSF $917 DOM 56 DOM START $ $1,450,000 START 11/07/18

(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 1 Arbolado Court BD/BA 4br/3ba SQFT 3049 sqft LOT 4960 PRICE $2,399,000 $PSF $787 DOM 7 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 49 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 43 DOM START $ $2,985,000 START 12/04/18
Address 2109 N Meadows Avenue BD/BA 5br/5ba SQFT 3448 sqft LOT 5003 PRICE $2,995,000 $PSF $869 DOM 25 DOM START $ $2,995,000 START 12/18/18
Address 3529 Oak Avenue BD/BA 3br/3ba SQFT 2029 sqft LOT 4648 PRICE $1,799,999 $PSF $887 DOM 15 DOM START $ $1,799,999 START 01/01/19

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