6 Month Market Update- Hermosa Beach

6 Month Market Update-Hermosa
Market Stats (January 1st to June 30th for each year)
109                   Closed
17                     Cancelled Listings
$1,450,000      Median Sale Price

109                  Closed
30                    Cancelled Listings
$1,225,000      Median Sale Price

101                   Closed
45                    Cancelled Listings
$1,075,000      Median Sale Price
The market is hot! Yes we have already heard that through all the normal media channels and daily conversations on the street…but what does that mean for us locally? Well, we have seen a huge increase in median home price from last year, a total of over 18% and a whooping $375,000 from 2013.

The number (units) of sales over the last 3 years have been consistent, however this year it is likely due to low inventory that we have seen the # of sales rise. The decrease in cancelled listings is also indicative that a higher percentage of properties that come up for sale are actually selling.

The question is…how long will this last and when, not if, the market will turn? Where is that crystal ball everyone talks about???? It is the best sellers market we have seen in close to a decade, however owning a home in Hermosa is more valuable than ever.

$15,000,000-Highest price sale
1942 The Strand 6,632 Lot Size
1942Double Lot-Two new Strand properties coming.

$2,550,000-Highest Townhome sale
340 26th 5 bed 3.5 bath 2,709 sq. ft.
Contemporary and sophisticated with a style and functional desig

$372,000-Lowest Price Sale
2411 Prospect #215 1 bed 1 bath 627 sq. ft.
2411 Prospect
GRAPHS- Last 3 years
For Sale vs. Sold and pended
For sale price vs. sold price

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Post by Darren Pujalet

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