The Australian chatshow host, who moved to Los Angeles with his actress wife Tasma Walton in 2009, reportedly thought that there was no point in keeping the property when they only ever return to his home city of Perth.
McManus's spokesperson told The Daily Telegraph: "It may mark closure on his return to live locally in the short term, but he has a long-term vision for the US and bought a house there a year ago so was always going to stay a while.
"He and Tasma are really loving it there and he was never from Melbourne, so keeping a home there, when he was from Perth, just made no sense."
The Richmond house is believed to have sold for $3.4 million (£2.2 million).
McManus recently landed a regular slot on Jay Leno's show, as well as also being the new host of his own series Rove LA.