7 Day Market Update- Hermosa Beach

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7 New Listings (click to see)
4 In Escrow (click to see)
5 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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ACTIVE
21 4th St Listed for $2,599,000                                                                            2 bed/1 bath
21
Very few full lot walk streets come to the market for sale, making them more challenging to compare to other sales. This home last traded in May of 2012 for $1,772,000. If you compare it to itself, it is currently listed for 46% more than it was acquired for in 2012. That increase is considerably outpacing the market, however, all it takes is one “have to have it” type buyer.

842 8th St Listed for $1,775,000                                                                       4 bed/3.5 bath
842
This townhome features an open living floor plan and huge views looking west, yet it’s still a townhome, a few properties east of PCH.

107 24th St Listed for $2,000,000                                                                    2 bed/2 bath
107
This is a probate sale subject to court approval and potential overbids. It’s a great location on a 2403 sq.ft. lot. Is that the value of the dirt….we will find out?

642 Hermosa Ave. Listed for $1,499,000                                               3 bed/2.5 bath
642
This is part of a 6-unit complex that was built in 2008 and landed on the market right in the middle of the down turn. After some financial distress and the bank taking these properties back from the developer, this unit sold for $940,000 after a full year on the market.

705 4th St #C Listed for $899,999                                                                 2 bed/2.5 bath
705
This is an 8-unit complex built in 1978. This unit last sold for $719,000 in 2006.

533 11th St. Listed for $1,749,000                                                                  3 bed/2.5 bath
533
More new construction townhomes west of Valley! 3 other new construction, similar sized townhomes a few doors down on the corner of 11th/Cypress sold earlier this year for $1,549,000-$1,565,000.

1724 Valley Park Listed for $1,789,000                                                           2 bed/1 bath
1724
This property is located right next to Valley School. It shares a fence to the south. Another home on Valley Park (1928 valley Park) recently sold for $1,901,000. Both properties have original 2 bedroom, 1 bath homes on them.

BACKUP/PENDING
2909 Hermosa View Dr. Listed for $1,875,000                                           4 bed/3 bath
Mid Century Modern Panoramic Ocean View Home on a Quiet Cul-De-S
This home likely sold to a cash buyer. It was midway through a remodel when they stopped and put it on the market. With the amount of unfinished work, most banks wont lend on it. Another property on Hermosa View sold earlier this year (2917 Hermosa View-$1,855,000). The buyers that purchased it are remodeling the entire home down to the studs.

2721 The Strand Listed for $13,000,000                                                        4 bed/4.5 bath
2721
The highest Hermosa Strand sale so far this year was 8,950,000 at 2624 The Strand. This would be the 2nd highest Strand sale price in over 2 ½ years.

1230 Owosso Ave Listed for $825,000                                                               2 bed/1 bath
1230
This is an almost 5000 sq. ft. lot located a few doors in from Aviation and next to a parking lot. It was on the market for over 50 days before putting it into escrow. Still, it’s under $900K.

CLOSED
1517 Loma Drive Sold for $2,138,000                                                              3 bed/2.5 bath
1517
$1000 per sq. ft.! That price seems to be the 2014 benchmark for a new construction home with big views. This property features a rooftop deck with panoramic views from Palos Verdes to Malibu around the Hermosa Valley.

117 Barney Ct. Sold for $1,725,000                                                                  4 bed/3.5 bath
117
The 2nd townhome of this duo, 118 Meyer listed at $1,799,000, is currently in escrow. These two townhomes were built by Lazar, a well-know builder in the beach cities.

425 11th St Sold for $1,425,000                                                                           3 bed/2.5 bath
425
It’s neighbor and similar build 2 doors down recently sold for $1,350,000. 425 11th sits on the crest of 11th street and has a open ocean shot looking west down 11th street, hence part of the added value.

302 Hermosa Ave. Sold for $1,499,000                                                            3 bed/3.5 bath
302
This Townhome sold quickly and with multiple offers for the full list price. It last traded in June 2012 for $1,065,000. That’s a $434,000 mark up in 2 years. Not bad.

654 4th St Sold for $1,185,000                                                                 3 bed/2.5 bath
654
This has been a busy block in 2014 with 5 closed sales. With only 40 closed sales in the entire Hermosa Valley in 2014, this 1 block represents about 12 ½% of those transactions. 1 other townhome (646 4th) in this 8-unit complex sold in September of this year for $1,170,000.

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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