7 Day Market Update- Hermosa Beach

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3 New Listings (click to see)
1 In Escrow (click to see)
3 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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NEW LISTINGS

1946 Ava Ave Listed for $1,499,000                                                       2 bed/2 bath
1946
This Single Family is located on the good side of AVA (Ardmore Adjacent). It feels bigger than its 1433 feet footprint. This property was purchased at an incredible price of $600K at an auction in 2011 and was completely remodeled.

OTHER AVA’s Recently:
1935 Ava For Sale: $2,950,000, 3814 sq. ft., remodeled, 29 Days on Market.
1929 Ava Sold: $2,100,000, 2283 sq. ft., 2014 built, Pre-Sold Off-Market

1025 8th Place Listed for $1,690,000                                                     4 bed/2.25 bath
1025
This spacious home has a roof top deck with 360-degree views spanning from PV to Malibu to Downtown LA and the mountains. It last traded in 2009 for $1,325,000 after 102 days on market. Has the market increased $365,000 for this house since 2009….we will see?

63 18th St. Listed for $3,500,000                                                             4 bed/3 bath
63
This property just sold off-market this year (2014) for $2,900,000 ($101K over the off-market list price). Now it’s available for $600K more. The selling advantage on the northern Hermosa walk streets has to do with the law of supply and demand. These types of property rarely come up, making them more challenging to compare to other sales and creating an imbalance in favor of demand. There are only 6 walk streets north of Pier Avenue in north HB (less than 100 homes). It doesn’t matter what it sold for earlier this year. It’s worth what only ONE willing and able buyer will pay today.

BACKUP/PENDING
2850 El Oeste Dr Listed for $7,999,000                                                 6 bed/6.5 bath
2850
This home sold the first week it came to the market. The sale is breaking new ground for a home this far from the water. Its neighbor to the north (8500+ sq. ft. new construction, 714 Marlita) has been on the market for over 525 days. Marlita landed on the market in Oct. 2012 for $6,999,900 and it’s still sitting at that price. 2850 El Oeste is in a more popular location and has the WOW factor that helped it sell quickly.

CLOSED
624 4th St Sold for $923,000                                                                3 bed/2.5 bath
624
This one sold for $24K over asking in less than 1 week. It’s hard to find a stand-alone townhome for under $1 Million dollars west of PCH.

340 Hollowell Ave. Sold for $979,900                                                          3 bed/2 bath
Welcome to 340 Hollowell- beach living at it's finest!
This one sold for $39K over asking after being on the market for 86 days.

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Post by Darren Pujalet

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