650 W Maple, El Segundo - $3,785,000
Just a few years ago we wrote an article on whether El Segundo could sustain a home for sale priced over $2,000,000. A year or two later and the market was tested again with a $3,000,000+ home came on the market. Now we’re really going to see just how much of a luxury market El Segundo can be with 2 homes currently for sale above $3,750,000.
One of those homes is located at 650 Maple. This is a 2020 build with 5 bedrooms, 6 baths and approximately 4,500 square feet of living space*. It sits on a very large 8000+ foot lot and offers modern architecture. One unique element of this home is that it actually has a bit of an ocean view which is a rarity for El Segundo.
Information on 650 W Maple, El Segundo
2019’s high sale of the year goes to 719 Maryland which was a new construction 5 bedroom, 3300* single family home in the heart of the community. Sitting on a nice sized lot of almost 6500 feet the home had a spacious backyard and the location was ideal with a real community/neighbhrood feel.
719 Maryland sold for $2,550,000 and sold prior to actually going on the market.
*information provided from the listing, deemed reliable but not guaranteed.
We’re happy to announce our latest home sale and so happy that our clients put their trust in us. There are not all that many $2M+ home sales in El Segundo but this was one that was well worth it. The owners did a fantastic job of keeping it in near perfect condition and selling it was a dream. Their designer eye made the home look like it was professionally staged. Congratulations!
- $2,275,000 sales price
- 5 bedrooms all with en suite baths
- Beautiful Tuscan design
- 3 car garage
- Great outdoor areas
The biggest MLS residential sale of 2017 was a duplex at 403 Whiting Street which was listed at $2,289,000 and sold at $2,155,000. The home sold in February after just 12 days on the market. It was located in the center of El Segundo on a very large 7,000+ foot lot and was built within the last few years. The property also included a 2 bdr./1 bath cottage built around 1919 with a separate address and its distinct separation from the property.
|BED / BATH: 3/3|
SQFT: 3,000 (estimated)
|PRICE PER SQFT: $718.33|
LOT SIZE: 7,470 sq ft
|YEAR BUILT(src): 2015(OTH)|
Days on Mrkt: 12
El Segundo is a fantastic little town that has a small town feel that most areas can’t duplicate. While there are an abundance of townhomes and condos, the bulk of the homes are some version of the original beach bungalow. Many have been nicely updated and expanded while some are in fairly original condition.
Unlike neighboring Manhattan Beach, El Segundo hasn’t seen quite the same building boom creating oversized luxury homes and there are several reasons. The primary reason is that values, while having gone up considerably in the past 2 years, haven’t rocketed upwards to the same extent and builders eager to build high end luxury properties may not see the margins and are searching elsewhere.
So will El Segundo see an increase in luxury $2,000,000 homes? It still appears unlikely other than the rare case of a truly special home on an oversized lot in an A+ location. There will be a limited amount of homeowners that simply love El Segundo that build their dream house and at some point those homes will be sold, but it’s very unlikely we’ll see too many luxury spec homes built as the cost of lots/tear down homes, plus the cost of building makes for a challenging investment.