Fourth Time's the Charm for This Sale

A recent sale shows again how sometimes, buyers simply see everything differently – and it's buyers who decide what's going to happen on a home sale. 

We're looking at 436 32nd (4br/4ba, 3774 sqft.), a newly closed sale on the plateau a few blocks north of Grand View. (The area is a.k.a. "the flats," and other nicknames.)

The sellers made two attempts to sell this highly inspired 2005 remodel about 10 years ago, then let the idea go before trying again last year. 

The older sale attempts (2016 and 2017) included list prices of $3.800M and $3.750M. Those were premium numbers for the plateau at the time. 

Indeed, before the first sale attempt in September 2016, there had only ever been one sale over $3.300M on the finger streets east of Vista that end at Sand Dune Park or just above the hillside. That single high sale was 417 34th (4br/5ba, 4300 sqft.), then a 2-year-old custom modern with ocean views on a corner at Vista, whose seller had taken home $3.840M in 2014. 

The earlier listings for 436 32nd seemed to focus on the home's custom design, with its exotic woods and a mix of warm and modern finishes that seemed almost Balinese-influenced. (We're not 100% sure about the Balinese reference, but we're definitely willing to go spend some time in Bali and report back to you on the home styles.)

By the time the listing came back in 2025, prices had risen all across the plateau. 

There had been 24 sales over $3.800M in the prior 6 years, and 7 over $5.000M. 

436 32nd emerged in May 2025 asking $5.399M.

That would have put it in 7th place for highest sales ever in the area, including new construction. This chart gives you an idea:

Its asking price per square foot of $1,431/PSF had been exceeded only 3 times – all on homes less than 5 years old, including new homes. (We're skipping one sale which came with, effectively, an additional "free" lot's worth of land.) 

We detected a subtle shift in the marketing as well, minimizing the (apparently) Balinese inspiration and focusing on "sleek lines" and a "contemporary" vibe. 

When that 5.4-ish pricing proved too ambitious, they cut to $4.999M for a while, then quit.

The listing returned again this year in February, with another adjustment, this time to $4.750M. 

Again, that price would have been top-tier, with only 9 sales at the time higher – almost all new or newer homes at the time, none dating to as far back as 436 32nd's effective build date of 2005. 

Pause just a moment – we know all homes are different, so comparisons by numbers inherently miss a lot. This specific property is different-er than most of the other homes sold on the plateau, in ways we rather enjoyed. (Reminds us of Bali – where, erm, we intend to go. Just as soon as jet fuel prices come down.) 

But buyers are always thinking about the numbers, and worried about overpaying.

The people who plan to bring their money to escrow are allowed to look at any comps, data, prices or statistics they want to. They can even use PPSF, even though local brokers will tell you that measure isn't of much value for a lot of MB sales. 

Finally, the right buyer came along at 436 32nd in April this year. 

The buyer had their own ideas about value, but loved the home enough to make their case and find an agreement with the seller. 

The final sale: $4.318M, or 9% under the last asking price. 

The sale slots in as #18 out of 26 sales over $4M in the area.

And while the asking PPSF had once reached into the furthest upper tier, it settled at $1,144/PSF, slightly below the median PPSF at the time of the property's first recent listing in early 2025. 

That's a respectable outcome for both parties, allowing the buyer to get in without feeling like they've paid as much or more than others pay for new construction. 

Once again, we've seen the market work its magic, with a heavy sprinkling of time.