7 Day Market Update- Hermosa Beach

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5 New Listings (click to see)
8 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.

Active
PENDING
CLOSED
open

ACTIVE
1834 Ardmore Ave Listed for $1,450,000                                                                  3 bed/2bath
1834 This was a well done flip property in 2013 and sold last December (2013) for $1,260,000.
The flippers paid $925K in 2013 and completely remodeled it and sold it for $335K more.

900 Manhattan Ave Listed for $2,049,000                                                        4 bed/3.5 bath
900 900 Manhattan avenue last sold at the end of 2012 for $1,490,000. It’s now on the market for $882 sq. ft. which seems to be inline with the new market norm….if there is such a thing in this ground breaking market. Time will tell on this one.

145 Ardmore Listed for $1,179,000                                                                          3 bed/3 bath
145 Lucky #5?
This property has been listed 5 times since 2010, four times in the last year and a half, and yet…no sale?
10/18/10 $919,000
01/23/12 $895,000
10/06/13 $1,049,000
11/07/14 $1,139,000
11/08/14 $1,179,000- Current List Price
It hasn’t sold, however the list price continues to rise.

1460 Bayview Listed for $2,599,000                                                      7 bed/6 bath
1460 This is a 2 unit “AS IS’” probate sale. The owners started building 2 single-family homes and construction stopped mid way through. It’s a great location. I look forward to seeing what happens here.

1733 Prospect Listed for $1,499,000                                                                        3 bed/2 bath
1733 This property is deceiving from the street. It’s a nicely remodeled property with ocean peekaboo views. It sold last year (July 2013) for $1,300,000.

PENDING/BACKUP
1720 Ardmore #203 Listed for $485,000                                                              2 bed/2 bath
1720 There have been 4 other sales in this 70-unit complex this year in 2014.
#225 1 bed/1 bath $397,000 774 sq. ft.
#222 1 bed/1 bath $399,000 691 “
#221 2 bed/2 bath $505,000 974 “
#101 2 bed/2 bath $511,000 974 “
See Hermosa Beach condos
1720 Ardmore #203 went into escrow in less than 2 weeks.

642 Hermosa Ave Listed for $1,499,000                                                             3 bed/2.5 bath
642 642 Hermosa Avenue sold after about 3 weeks on the market.

This is what we wrote when it came out:
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.

647 24th Pl Listed for $1,079,000                                                              3 bed/2.5 bath
647 This fixer went fast. It sold in less than 5 days. It is essentially a tall/skinny on a 25 X 108 ft. lot. The views are likely impressive from this part of the hill between Ardmore and PCH in the Hermosa Valley section.

1946 Ava Ave. Listed for $1,499,000                                                                   2 bed/1.75 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.

1601 Monterey Blvd Listed for $1,750,000                                                          4 bed/4 bath
Exterior This is a duplex located at the top of 16th and Monterey, with nice ocean views. It hasn’t closed yet, however the word on the street is that it went well over the asking price.

332 Ocean View Ave Listed for $1,579,000                                                 4 bed/3.5 bath
332 After 2 months on the market and a start price of $1,620,000, it’s in escrow.
This is one of two newly constructed detached townhomes. The back unit recently closed at $1,530,000. The land was purchased in 2013 for $841,000. 434 Ocean View, a similarly sized 2001 built detached townhome just went into escrow under the list price of $1,199,000 just ½ block away.

1639 Prospect Listed for $1,359,000                                                                          3 bed/4 bath
Corner lot with lush landscaping and great curb appeal This one was in escrow shortly after hitting the market, fell out and now it’s back in escrow.

SOLD
645 6TH St. Sold for $1,200,000                                                                            3 bed/2.5 bath
645 After 3 months on the market and a start price of $1,239,000…this townhome has found it’s new owners. It last sold in 2004 for $790,000.

571 2nd St. Sold for $870,000                                                                                      2 bed/1 bath
Front view It’s hard to own dirt west of PCH for under $900K. This one originally came out at $949,000 in the beginning of October.

21 4th St. Sold for $2,300,000                                                                                    2 bed/2 bath
21
Originally listed just under $2.6, they sold quickly for about a 10% discount off the list price.

We wrote this when it came out:

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?
Well, it still out paced the market, with a 30% gain from the last sale in 2012.

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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