7 Day Market Update- Hermosa Beach

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

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.

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pending
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Here are a few we have reviewed:

ACTIVE

320 Hermosa Ave #101 Listed for $799,000                                                         2 bed/2 bath
320

It’s hard to find anything in Hermosa west of Valley for $799K. This 13-unit building, located 1 block from the sand, was built in 1972. The last sale was a 2-bedroom on the 2nd floor looking west and sold for $10K over asking at $705,000.

1822 Palm Drive Listed for $974,500                                                                        2 bed/1.5 bath
1822
Here we go again… a single-family for less than $1M. This one should sell quickly. Although it may need updating, it’s a perfect spot for a 2nd home, a weekend resting place, a vacation rental, or a primary residence. There have only been 7 sales under $1M since 2012.

2850 El Oeste Dr. Listed for $7,999,000                                                                  6 bed/6.5 bath
2508
$8M, 7500 sq. ft. of home, stunning views, yet close to PCH…if there ever was a market for this type of home, it’s this year. It’s pretty tough to find a lot that is over 10,000 sq. ft. this close to the water. The dirt sold for $2,150,000 in December 2012. You do the math!

Backup/Pending

1639 Prospect Ave Listed for $1,359,000                                                                   3 bed/4 bath
Corner lot with lush landscaping and great curb appeal
This one didn’t take long. It sold after 10 days on the market. The good ones go quickly. This property is however, is located on Prospect. It’s typical not a highly desirable street, however this seems to be the year for Prospect. This property shows well and has huge open views from the roof top deck.

577 18th St. Listed for $1,699,000                                                                        2 bed/1 bath
577
This pocket west of Valley Ave. has been on fire in 2014. 555 21st, a 4458 sq. ft. home on a 15,709 lot sold for $4,400,000 in May of this year and 1928 Valley Park (right around the corner) on a 6398 sq. ft. lot recently sold for $1,901,000 ($152,000 over the asking price).

SOLD

1600 Ardmore #223 Sold for $480,000                                                                      1 bed/1 bath
Front of complex. This is a controlled access building.
$480,000 marks the highest priced 1-bedroom sale ever in this building. The next highest sold for $450K in 2005. Another smaller 1-bedroom sold earlier this year for $405K.

1600 Ardmore Ave #205 Sold for $513,000                                                              2 bed/2 bath
1600
There have 23 sales in this 100-unit building (see Condo Blog) over the last 5 years. That equals a 23% turnover in 5 years or approximately 5% turnover per year. That’s high for the beach, however it is in line with the United States average turnover.

834 Prospect Ave Sold for $1,350,000                                                                       3 bed/2.5 bath
834 Prospect
Price isn’t everything…or is it? This home sold quickly (17 days) after coming out at $1,399,000 and selling for $1,350,000. A similar build a few doors down came out earlier in the year at $1,549,000 and cancelled after 3 months. When the market speaks, often times the first statement means the most!

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Post by Darren Pujalet

Darren has written 288 articles.

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