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

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5 New Listings (click to see)
3 In Escrow (click to see)
5 Closed Sales (click to see)

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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.

NEW ACTIVE
302 Palm Listed for $1,499,000 3 bed/3.5 bath
302
Built in 2004, this home was last on the market in 2012 for $1,095,000. However, after a month and a half with no sale, it was taken off the market. Now it is back for $396K more.

736 Gould Ave #8 Listed for $1,150,000 3 bed/2.5 bath
736
This resides in a 33 unit building, just west of PCH. #8 last sold in 2002 for $555,000. Currently unit #3, which is a 3 bedroom 2.5 bath, is in escrow listed at $,1049,000.
There were only 2 sales last year in this 33 unit building
#15 3 bed 2.5 bath for $950,000
#27 3 bed 3 bath for $830,000

1104 3rd St Listed for $950,000 2 bed/1 bath
1104
This SFR was last on the market in 2009, however after 122 days it was not able to find a new buyer and came off the market. It doesn’t look like this property has sold in decades and it currently has a Notice of Default (foreclosure) file against it.

1707 Pacific Coast Highway #304 Listed for $565,000 2 bed/2 bath
1707
There are currently 2 units for sale in this 73 unit building.
Unit # 125 is a 2 bed/2 bath listed for $559,000. Unit #304 last sold in 2008 for $521K.
2014 sales in this complex:
Unit 121 Sold for $545,000 2 bed 2 bath
Unit 308 Sold for $360,000 1 bed 1bath
Unit 302 Sold for $347,500 1 bed 1 bath

831 6th #2 St Listed for $629,000 2 bed/1.5 bath
831
831 6th is a 6-unit condo complex located just east of PCH. #2 is a bank owned unit that was recently foreclosed on. It last sold in 2006 for $635K.
The most recent sale in this complex was unit #5, which has the same specs as #2 and sold for $600,500 in January of 2014. However, it was on the market for 175 days.

IN ESCROW
3224 Hermosa Ave Listed for $6,500,000 2 bed/2 bath
Back entrance on Palm
213 days on the market and a $750K price reduction this one has found a buyer. When it hit the market in August this was our first report:
This single family is located in an A+ area of Hermosa. The price however, is breaking through the ceiling. It’s a 4247 sq.ft lot with a 2 bedroom, 3 bath, 2800 sq. ft. home. The value is in the dirt and that price would make it over $1700 per dirt sq. ft. That’s a huge #. See Dirt value
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918 9th St. Listed for $1,495,000 3 bed/2 bath
918
It only took 4 days for 918 9th to go into escrow. This property just sold almost exactly one year ago in March 2014 for $1,475,000. The pictures look great. I’m curious to see where this one lands.

2324 Hermosa Ave Listed for $2,950,000 2 bed/1 bath
2324
18 days and in escrow…. this SFR with a lot size of 2453 sq. feet and a north Hermosa location ½ block to the sand, has attracted someone looking to build. As a lot sale, this one is priced at $1212 per dirt sq. foot. 2462 Hermosa Ave. 1-block north is currently in escrow. It’s a 3104 sq. foot lot priced at $3,750,000, or $1208 per dirt sq. foot. Last year, 2056 Hermosa Avenue sold for $2,615,000 or $972 per dirt sq. foot. Recently, 2 newly constructed homes on the 2400 block sold for $4.5M and $4.8M.

Do the math on what it costs to build and you can deduce why buyers are paying this much for the dirt.

CLOSED
900 15th St Sold for $1,595,000 3 bed/2.75 bath
One-of-a-kind East Hermosa Hideaway
After 75 days on market, an original start price of $1,775,000 and over 3 months on the market, 900 15th has closed for $180K less than the original list price.

1649 Monterey Blvd Sold for $4,495,000 5 bed/5 bath
1649
After 118 days, this one sold right at the original list price. 1649 Monterey has huge views from the west side of Monterey. These types of homes are limited in supply this year. See $5M not on the strand

723 3rd St Sold for $879,000 2 bed/3 bath
1723
It only took 6 days for this one to go into escrow and just 3 weeks to close at the full list price of $879K. This unit is in a 7-unit building located just west of PCH and built in 1985. This townhome last sold in 2012 for $700,000.

2411 Prospect Ave #210 Sold for $410,000 1 bed/1 bath
2411
AAAAND it’s sold…for $11K over list price and for $72K more than last year’s acquisition of $338,000.

902 6th St Sold for $1,500,000 4 bed/3.5 bath
corner lot with west facing ocean views
Last sold in 2004 for 1.2M. It was listed in 2012 and didn’t sell, however the market is considerably better this time around and after 10 days on the market it has closed. It sold for $25K above asking, giving us an indication of how hot the market currently is.

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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