Several Tree Section sellers have made price reductions for the weekend.
With a lot of stagnant inventory, some price moves were inevitable.
Recall that 2104 Poinsettia went into escrow moments after making a serious reduction – its second $150k reduction down to $1.799m.
Buyers notice that sort of thing.
Nine more of…
Several Tree Section sellers have made price reductions for the weekend.
With a lot of stagnant inventory, some price moves were inevitable.
Recall that
2104 Poinsettia went into escrow moments after making a serious reduction – its
second $150k reduction down to $1.799m.
Buyers notice that sort of thing.
Nine more of the 33 active Tree Section SFRs cut their prices May 1 or after. Here they are in order of their new prices:
Address_____WAS_____ IS______ CUT
2507 Valley__$1.999m___ $1.850m__$149k
758 14th____$1.925m ___ $1.899m__$ 26k
1800 Laurel__$2.499m __ $2.350m__$149k
628 Marine__$2.425m ___$2.375m__$ 50k
579 29th____$2.499m___ $2.400m__$ 99k
637 35th____$2.699m___ $2.629m__$ 70k
2310 Palm___$2.689m___$2.639m__$ 50k
3212 Maple__ $2.679m___$2.649m__$ 30k
2104 Palm___$3.499m___$3.449m__$ 50k
True, some of these are
token moves, done more for effect than to find the right price. But it's notable that few Tree Section listings had made cuts in the previous month.
Two of the big movers were previously discussed by MBC.
1800 Laurel was priced on a lark by live-in remodeler/flippers. They didn't get their lucky price after a month, so they're moving. They have more room to go if necessary.
And
2507 Valley has made a
real move
after some fake moves. More importantly, that seller has faced the fact that this home will wind up a short sale, and they're telling the world instead of hiding it.
579 29th has now dropped $175k from the initial list in early December 2006. This cut was accompanied by a
bogus relisting. It seems significant that this is one of very few $2.4m+ listings that is
not new construction – builders do not yet appear to be aggressive on price.
As detailed in the
most recent Manhattan Beach Market Update, much of the current Tree Section inventory has been lingering quite a while. Of the 33 homes for sale as of April 30, actual days on market broke out this way:
0-30: 4
31-100: 12
101-200: 9
201-300: 6
301+: 1
So there are several listings that might need to keep moving to find their buyers.
UPDATE 5/6: 628 Marine is now pending after making its price reduction.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 24th, 2023 at 5:46pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
