7 Day Market Update- Hermosa Beach

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4 New Listings (click to see)
1 In Escrow (click to see)
2 Closed Sales (click to see)

The Hermosa market has not shown much of a holiday cooling off this year and the prices are continuing to push above previous ceilings as inventory continues to be historically low. This is a good sign for sellers. We are also seeing more new construction this year than previous years. Hermosa Beach has had more permits pulled in 2014 than any other year since the market crash.

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

19 21St St. Listed for $4,800,000                                                                        5 bath/6 bed19
21st is a 1920’s home that has likely been added on to. It came on the market for $1817 sq. ft. 19th street is one of the best walk streets in HB. I’m curious to see how this one plays out. It last sold in 2996 for $750,000.

1300 The Strand #330 Listed for $699,000                                                1 bed/1 bath
1300
There have been 2 other sales in this 96-unit building this year:
#317 (1 bed/1 bath) $795,000
#227 (0 bed/1 bath) $590,000
There is one other unit actively for sale as well:
#312 (0 bed/ 1 bath) $850,000 (It has been on the market for 112 days)

422 8th St. Listed for $1,548,000                                                     2 bed/2 bath
422
This is a 2 bedroom single family home on less than a half lot (1128 sq. ft.) just east of Loma. It was likely subdivided from the lot at 760 Loma (1994 sq. ft.), which it connects to.

501 Herondo St. #66 Listed for $849,000                                          2 bed/2.5 bath
501
501 Herondo is a 75-unit complex located on the southern edge of Hermosa bordering Redondo Beach. 2 other 2014 sales have taken place in this complex:
#2 (2 bed/2 bath, 1439 sq. ft) $720,000
#46 (2 bed/3 bath, 1475 sq. ft) $700,000

PENDING/BACKUP

1834 Ardmore Ave Listed for $1,399,000                                                       3 bed/2 bath
1834
After a $50K price reduction, this property sold quickly after only 14 total days on the market. It last sold at the end of 2013 for $1,260,000 after being remodeled and flipped back on the market by the seller.

CLOSED

1230 Owosso Ave Sold for $792,500                                                                  2 bed/1 bath
1230
After 83 days on the market, this almost 5000 sq. ft. lot closed $32K under the original list price of $825K.

162 Monterey Sold for $1,165,000                                                                  3 bed/3 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 two other units sold earlier this year.
158 Monterey, sold for $1,500,000 in June (Front Unit)
160 Monterey, sold for $1,230,000 in July (Middle Unit)

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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