7 Day Market Update and Weekend Open House List- Hermosa Beach

UPDATE_HEADER
2 New Listings (click to see)
7 In Escrow (click to see)
5 Closed Sales (click to see)

40 Active Listings in Hermosa Beach
SFR- 22
TWNHS- 12
CONDOS- 6

Actives by Hermosa Areas:
Sand Section: 26 Active listings
Valley Section: 7 Active listings
East Hermosa: 7 Active listings
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This is a market snapshot of Hermosa Beach Real Estate over the last 7 days. We are not presenting these properties as our listings. Click the IDX link above to see the recent Active, Pending and Closed properties in HB.

The market is still very active this week, even though we have very little new inventory coming to the market. Year-to-date we have had 121 closed residential sales and 17 2-4 unit income property sales. Every once in a while, there is a SHOCKER OFF-MARKET sale. The most recent discovery is 2438 Manhattan Avenue (see below under closed OFF-MARKET).

NEW ACTIVE
215 Valley Drive Listed for $879,000 2 bed/2.5 bath
215
This attached townhouse last sold in 1975 and is just west of Valley, located in a
64-unit complex. There have been 2 other sales in there this year:
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123 34th Listed for $2,900,000 5 bed/3 bath
123
This is a 5 bedroom duplex located on a 2554 sq. ft. lot, 4 properties from the sand.

IN ESCROW

822 6th St Listed for $1,799,000 4 bed/3.5 bath
822
35 days and its in escrow. This single family home, one house east of PCH, last sold in 2005 for $1,365,010. It shows well and it appears that at least 1 buyer had to have it.

1614 Bayview Listed for $1,425,000 2 bed/2 bath
1614
Just over 6 weeks…and it’s in escrow. This one was on the market in 2011 for $1,048,000, but didn’t sell. It last traded in 2006 for $1,129,000. Currently priced at $1240 per sq. ft., this time the market is very different. 1512 Bayview, one block away, just sold for $1,310,000 (listed at $1,350,000) in one week…and it’s only 828 sq. ft.

77 15th ST #2 Listed for $959,000 2 bed/2 bath
77
it took a month to find a buyer. 77 15th is a 14-unit building, just steps from the beach. Unit #2 last sold in 2008 for $655K. Just recently, unit #3 (2 bed, 2 bath, 959 sq. ft.) sold for $889K. The last sale in this complex prior to that was in 2010, unit #11 (3 bed 3 bath) for $600K. We’ve heard this one sold for at list or very close to the full asking price.

1216 Cypress Ave Listed for $1,899,000 4 bed/3.5 bath
1216
That was a quick…just 9 days. This property last sold in 2009 for $1,053,000. That’s an 80% markup since 2009….not surprising given the craze of the current market. This attached townhome is set west of Valley and a few properties south of Pier Avenue.

1245 8th St Listed for $1,222,000 3 bed/2 bath
Front of house boasts custom black concrete driveway, Solid pour
After 39 days, a new buyer is in cue. This one last sold in 2010 for $720,000 and was on the market last year for $100K less ($1,125,000) and taken off after a month. This year is a different market and I think it’s priced in a very sellable range.

230 34th St Listed for $4,795,000 4 bed/3.5 bath
230
20 days and it’s gone. This last sold in 2009 for $880K (3 bed 1 bath 771 sq ft. house) for lot value. The new construction is a 4 bed, 3.5 bath with 2723 sq ft. and a rooftop deck offering dramatic ocean views. A $1760 per sq. ft., it’s a ground-breaking number, however this is a ground-breaking market.

1720 Ardmore Ave #124 Listed for $569,000 2 bed/2 bath
1720
15 days on the market and it has a buyer. This unit last sold in 1999 for $192,000. It is located in a 70-unit complex that has a pool and is close to pier avenue. There have not been any closed sales this year in the complex, however 2014 had 4 sales:
Unit 221 2 bed 2 bath Sold for $505,000
Unit 225 1 bed 1 bath Sold for $397,000
Unit 222 1 bed 1 bath Sold for $399,000
Unit 101 2 bed 2 bath Sold for $511,000

CLOSED
938 13th St. Listed for $1,474,000 3 bed/2 bath
938
Sold for just under list price of $1,499,999. Sold at $1179.20 per sq. ft., (big #) this one has a new owner.

1234 6th St Listed for $1,750,000 4 bed/3 bath
1234
45K below list price…this one is gone. It was on the market last year for $1,649,000…however it didn’t sell. It last sold in 2005 for $1,524,500.

431 Hopkins Ave Listed for $1,777,500 2 bed/1 bath
431
It took over 3 months to find a buyer and land a sale price of $97,500 below the list price. This single family with an 8902 sq. ft. lot, makes for a prime lot to build on. It was on the market last year for 390 days and listed at $1,899,000 and didn’t sell. This property has big view potential from the Hermosa Hill looking west. You will likely see new construction here shortly.

212 35th St Listed for $3,330,000 5 bed/3 bath
212
$30K above list price with multiple offers…it’s sold. This duplex is close to the beach and featured a 3 bed, 2 bath rear unit with ocean views and a 2 bed, 1 bath front unit. It last sold in 2008 for $1,960,000. It’s hard to find this type of property with this type of location.

OFF-MARKET SHOCKER
2438 Manhattan Avenue
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This is a 3010 sq. ft. lot with a 3 bedroom, 3 bath single family on it that just traded for $1,500,000. THAT’s RIGHT…$1.5M.
107 24th (2403 sq. ft. corner lot) sold ealier this year for $2,760,000 ($760K over the $2M list price). It was bought as a tear down lot for a new build.
Other Man. Ave. Sales:

3 New or New-ish Construction:
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2 Other Recent Sales (same lot size)
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If you have any questions about the previous properties or any other properties here in Hermosa Beach or the South Bay area, please call me direct at 310-613-1690.
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