2019 Hermosa Beach Market – A Year In Review

2019 was another busy year for real estate here in Hermosa Beach. The biggest question most people are asking is, “Has the Market slowed down?” The answer is both yes and no. The numbers show that it was still a strong year and the market has continued to post solid results, yet we didn’t see as many lofty, over-asking sales as we’re used to seeing over the previous half decade. That said, the year finished strong and we had the busiest last few months in many years with 20 closed sales in November and 27 in December(VS. 14-Nov. 2018, 10-Dec. 2018).
Inventory is still very tight, however we expect more properties to hit the market as the year unfolds and the season picks up. We feel very strong about the 1st half of this year (lower interest rates, pent up demand) and more uncertain about the 2nd (election year).

The total number of sales has been pretty steady, if not a slight uptick.

Year                        Total Closing Sales

2019                        194

2018                        188

Inventory is still very low (see chart below)

10 – Sales under $700K

10 – Sales over $5,000,000

$16,000,000 – Highest Sale — 2906 Tennyson Place

$3,400,000 – Highest Sale in East Hermosa (east of the highway)

801 Ocean Drive

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Post by Darren Pujalet

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