It's Summer, a great time for the beach, but not always so hot in the local real estate market.
If you're trying to sell, you probably keep your listing active through the season, just in case.
But you might just get a bunch more DOM out of the Summer.
We took a look at the 128 active listings early…
It's Summer, a great time for the beach, but not always so hot in the local real estate market.
If you're trying to sell, you probably keep your listing active through the season, just in case.
But you might just get a bunch more DOM out of the Summer.
We took a look at the 128 active listings early Tuesday afternoon, and found as follows:
• 53 show a price cut on the current listing
• 10 more have re-listed, effectively hiding the fact that they previously had higher list prices
That's 63 out of 128, meaning 49% (oh come on, it's half!) of current Manhattan Beach listings have taken a price cut.
There's a cut on one of the highest-priced listings in town, 3416 The Strand (5br/5ba, 3950 sqft.), now at $11.995M after 443 DOM (wow).
There's a cut on one of the lowest-priced listings, 640 MB Blvd. #3 (2br/1ba, 835 sqft.), now at $849K.
There's a cut on one of the newest listings in town, 1823 5th (4br/2ba, 2315 sqft.), now $1.999M after 12 DOM.
There are cuts on 7 active listings with more than 300 DOM (some are re-lists, so really it's "combined" DOM over 300).
There are cuts on 22 out of 54 listings (41%) with 30-90 DOM.
Chances are, if you're looking at a Manhattan Beach listing right now, it is likely to have cut its price at some point.
Buyers, sitting on the sand waiting for the market to come to them, may feel more relaxed, and take just one more short snooze.
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UPDATE: By Weds. morning, the numbers moved, so that 66 active listings out of 128 had cuts, including cuts from a prior listing's price. That's 51.5%.
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 July 16th, 2024 at 4:26pm 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.