A High-End Home Bucks The Trend

Posted by Mike Michalski on Sunday, September 16th, 2018.

It never fails.

Just as we were opining about a recent slowdown in high-end home sales here in the South Bay (High-End Homes Getting Harder To Sell), one hits the market in the Manhattan Beach Tree section and is gone in a week.

The home?  772 26th Street, a newer (built in 2015) home designed by Louie Tomaro and constructed by master builders, Zivec & Corbett on an oversized Tree section corner lot.

The price?  A nose-bleed $6.7 million.  Granted the home sports 5,936 sqft of luxury living space and the backyard pool is something special. 

Nonetheless, at that price, this would be the 3rd most expensive home ever sold in the Tree section, right behind the $6,750,000 price tag for 3305 Pine Avenue, which was actually two houses (one of them a pool house with guest quarters) on a double lot, and 528 15th Street, an American Martyrs home (also from Zivec & Corbett) with a partial ocean view that traded in 2016 for $6.8 million.

Interestingly, the Zillow 'zestimate' for this property (Zillow's attempt, using computer algorithms, to forecast a property's fair market value) actually reflected a higher number, $6,955,787.  How their computers came up with that valuation, given that the high water mark in the Trees is $6.8 million, is beyond us.

Still, the topic of expensive Tree section homes was covered in a blog post last year (Not Quite The Highest-Priced Tree Section Sale).  If this sale goes through, we may have to update that post.

This entry was posted under South Bay Real Estate News, Manhattan Beach, and Market Conditions.