By Keith Kyle
When many buyers start their search they always start with thoughts of the perfect home. Usually reality hits quickly and compromises have to be made. One of the common compromises that people often decide on is that they would be willing to purchase a townhome instead of a single family home. The thought is that a townhome will be bigger, newer and in a better location than an equally priced single family, and that it will be the most affordable way of finding homes in this coastal community……
That’s not always the case in the luxury market of Manhattan Beach.
Due to the zoning in Manhattan Beach in which most areas only allow for 1 dwelling on a lot, most townhomes are built and sold in the sand section. This area is closest to the beach, and the most sought after in Manhattan Beach. As everyone’s image of life at the beach includes ocean views, short walks to the beach, and the sounds of the surf…..this is where everyone wants to live and is priced accordingly.
Luxury home buyers are often surprised that townhomes are not a far less expensive option, but as the bulk of the townhome options in Manhattan are in the priciest neighborhood they yield some pretty remarkable prices. This isn’t to say that they are not considerably less expensive than the single family next door, but compared with prices in Manhattan Beach as a whole, they are higher than expected. Other than the sand section, zoning really only allows townhomes on a few of the busier streets throughout the city and there just are not that many opportunities to purchase them as the supply is so limited.