7 Day Market Update- Hermosa Beach

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6 New Listings (click to see)
5 In Escrow (click to see)
3 Closed Sales (click to see)

In the entire city of Hermosa Beach, there are only 26 homes actively for sale.
15 Single Family
6 Townhome
5 Condo
Inventory is starting to come back out on the market, however the number of properties in escrow has increased at a similar rate. This is a new market. It’s explosive, competitive and money is less expensive to borrow.

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
1424 Manhattan Ave #3 Listed for $925,000 2 bed/2 bath
Stunning Ocean Views
This is a 4-unit condo building is located 1 block east of Hermosa Avenue and 2 blocks to the water. The last sale in this complex was unit #1, which sold last April for $800,000, $105K above list price of $695,000. Unit #3 looks like it might have better views.

2127 Manhattan Ave Listed for $3,799,000 4 bed/4.5 bath
Front Gated and Private
This property was for sale in 2010 for $2,189,000…but didn’t sell. Fast forward 5 years and add a price increase of $1.6M….let’s see where it ends up. These sellers bought the property in 2004 for $1,650,000.

1630 Monterey Blvd Listed for $4,495,000 4 bed/4.5 bath
1630
This 2005 built, 4360 sq. ft. home last sold in 05 for $2.9M. 1649 Monterey across the street just went into escrow (currently 92 days on market). It’s a 4561 sq. ft. home built in 2010 that features big west facing views.

2411 Prospect Ave #307 Listed for $479,000 2 bed/2 bath
2411
#210, a 1-bedroom/1-bath unit is currently in escrow with a list price of $399,000, however it has 279 less sq ft then #307 and has one less bedroom.
Last Sales in this complex:
#126       2/2         856 sq. ft.       Sold for $420,000
#209       1/1         636 sq. ft.       Sold for $341,000
#224       2/2        855 sq. ft.       Sold for $452,000
#210        1/1         636 sq. ft.       Sold for $338,000

340 26th St. Listed for $2,600,000 5 bed/3.5 bath
Contemporary and sophisticated with a style and functional desig
The first time this 2-on-a-lot, 2007 built home sold was in 2008, for $1,800,000. The front unit on the same lot, although different inside, sold last year for $2,312,500.

620 Prospect Ave Listed for $1,550,000 3 bed/2.5 bath
620
This one is priced at $502 per sq. ft. At the moment, there are only four 3+ bedroom single-family homes for sale in the Hermosa Hills.

1600 Ardmore Ave #410 Listed for $799,000 2 bed/2 bath
1600
This 100-unit complex had 3 sales in 2014:
#223      1 bed/1 bath      Sold for $480,000
#205      2 bed/2 bath      Sold for $513,000
#324      2 bed/2 bath      Sold for $522,000

723 3rd St Listed for $879,000 2 bed/3 bath
723
It last sold in 2012 for $700,000. This is a 7-unit building located just west of PCH that was built in 1985.

PENDING/BACKUP
900 15th Listed for $1,599,000 3 bed/3 bath
One-of-a-kind East Hermosa Hideaway
This one is located 5 houses east of PCH. It fell out of escrow after 75 days on market and had an original start price of $1,775,000. Now at 110 days, 900 15th is back in escrow.

47 6th St Listed for $2,899,999 3 bed/2 bath
47
This is a new market. Full lots west of Hermosa Avenue on the flat walk streets are rarely up for sale. This older 1948 built beach cottage had multiple offers.

2411 Prospect Ave #210 Listed for $399,000 1 bed/1 bath
2411
Last 3 Sales in this complex:
#126      2/2       856 sq. ft.       Sold for $420,000
#209      1/1        636 sq. ft.      Sold for $341,000
#224      2/2        855 sq. ft.      Sold for $452,000

15 15th St #26 Listed for $849,900 2 bed/2 bath
15
Another ceiling breaking price! 15 15th street is a 27-unit building, a few short steps away from the sand in the heart of Hermosa Beach. Unit #26 would be the highest sale ever recorded in this building if it sells anywhere near its current list price. The current highest was #8, which sold for $737,000 in 09/2008. The TWO most recent sales in this building are:

UNIT PRICE DATE
#8     $663,000     08/2014 (Sold for a loss, purchased at $737K).
#22   $704,000     10/2013

501 Herondo St #64 Listed for 799,000 2 bed/2.5 bath
501
501 Herondo is a 75-unit complex located on the southern edge of Hermosa, bordering Redondo Beach, called The Mooring. #64 is the 4th sale recent sale for this complex. The other sales were:
#2 (2 bed/2 bath, 1439 sq. ft.) $720,000
#46 (2 bed/3 bath, 1475 sq. ft.) $700,000
#65 (2 bed/3 bath, 1475 sq. ft.) $755,000

The highest recorded sale in The Mooring was back in 2005:
501 Herondo #69 $835,000 11/15/05
(See Hermosa Beach Condos-Where are they now?)

CLOSED
633 5th St Sold for $1,600,000 4 bed/3.5 bath
633
These new construction units sold quickly. 633 5th sold over the asking price and 635 5th is still pending. They were priced to create the demand.
Here is what other 2014 Townhomes (west of PCH) have sold for:
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1256 10th St Sold for $2,005,000 5 bed/4 bath
1256
This is a beautiful 1948-built home that was completely remodeled. It is located right on the Hermosa/Redondo border (last home in Hermosa-across Reynolds to the east is Redondo). It was purchased for $975,000 in Sept. of 2013.
Other similar recent sales east of Prospect:
Address         Sq. Ft          Year          Price
1276 9th St.      3600            2014         $1,850,000
1272 9th St.      3600            2014         $1,850,000
1245 20th Pl.    3662            1996         $1,855,000
1253 21st St.     3870            2009        $1,899,000
1130 9th St.      3895            2008        $1,950,000
All of these homes have more sq. footage and were built in this era.

1106 Palm Dr. Sold for $2,150,000 4 bed/3.5 bath
1106
Palm was on, off and back on the market for a whopping 661 cumulative days.
It was listed twice before at $1,999,999 in February 2012 and December 2013, but didn’t sell. Now it’s listed for $200K more and found a buyer. This property is an attached townhome built in 2006. It sold for the list price.

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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