7 Day Market Update- Hermosa Beach

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5 New Listings (click to see)
6 In Escrow (click to see)
2 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.

ACTIVE
ESCROW
CLOSED
OPEN

ACTIVE

2030 Loma Dr Listed for $2,500,000                                                                4 bed/3.5 bath
2030
2030 Loma just hit the market 7 days ago. It last sold in August of 2010 for $1,925,000. This home is at the crest of Loma, offering views of the Hermosa Valley and an ocean peak to the west.

535 11th St Listed for $1,695,000                                                                   3 bed/2.5 bath
Photo is of staged front unit at 533 11th St. Each unit varies o
This is the second of these 3 newly constructed townhomes to hit the market! Three other new construction, similarly sized townhomes a few doors down on the corner of 11th/Cypress sold earlier this year for $1,549,000-$1,565,000.

596 1st St. Listed for $1,325,000                                                                      3 bed/3.5 bath
596
596 1st is part of a 4-unit townhome complex. It was on the market for 30 days in 2009, listed at $999K and didn’t sell. That was a challenging market. The current owners paid $1,325,000 in August of 2008. Now it’s priced at what they paid for it then.

123 29th St. Listed for $4,199,000                                                                    6 bed/5 bath
123
This one is located 1-block from the water on the corner of Palm and 29th, which is a highly desirable North Hermosa location. It last traded for $3,700,000 in January of 2008.

1216 11th Pl. Listed for $799,000                                                                          3 bed/1 bath
1216
Here is your cute Hermosa cottage. It sits on a 2490 sq. ft. lot in the Hermosa Hill Section, close to Aviation. This is an entry level home here in Hermosa.

IN ESCROW
2435 Myrtle Listed for $2,870,000                                                                     6 bed/4.5 bath
2435
We were surprised to see that this one took 100 days on market to go into escrow. It’s located on a great section of Myrtle, which is only 2 blocks long (24th to 26th) in its entirety. This property is 2 separate units (duplex) on a street (Myrtle) to alley (Ozone) lot with ocean views.

162 Monterey Blvd. Listed for $1,295,900                                                       3 bed/2.5 bath
Street view
After 231 days on the market and an original list price of $1,639,000, this is the last of the 3 units to sell. The front unit, 158 Monterey, sold for $1,500,000 in June and the middle unit, 160 Monterey, sold for $1,230,000 in July.

107 24th Listed for $2,000,000                                                                        2 bed/1.75 bath
107
This property sold quickly. It’s a probate sale subject to court approval and potential overbids, meaning someone has the option to buy it later through the probate court if they are willing to pay more than the current buyer. It’s a great location on a 2403 sq.ft. lot. Is that the value of the dirt….we will find out? My guess is that it sold for more than the listed price.

840 20th St. Listed for $1,795,000                                                                       4 bed/3 bath
840
840 20th went into escrow after being on the market for 127 days and after a $100K reduction in price. It sold in 2002 for $675K.

21 4th St Listed for $2,599,000                                                                            2 bed/1 bath
21
Well…it happened. This is what we wrote when this one hit the market last week: “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?” Most of the value in this smaller duplex is in the dirt due to the walk street location, just a few lots in from the strand.

CLOSED
118 Meyer Ct. Sold for $1,775,000                                                                   4 bed/3.5 bath
118
The sister unit to 118 Meyer, 117 Barney Ct., just closed for $1,725,000. These two townhomes were built by Lazar, a well-know builder in the beach cities.

1133 8th St Sold for $1,142,000                                                                       2 bed/1.75 bath
Exterior
Another over asking sale! 8th was originally listed for $999,000 and sold for $143K over asking. This continues to proves that the market will speak, and if a desirable home is listed at the right market price, it will sell at or above the list price. In this case….way over list. It last sold in 2010 for $809,000.

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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