7 Day Market Update- Hermosa Beach

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

NEW ACTIVE
945 16th St Listed for $2,350,000 4 bed/5.5 bath
945
This 2009 custom built home is listed at $580.39 a sq ft.The highest priced sale in the Hermosa Hill Section last year was $1,950,000 (1130 9th, 3895 sq. f.t., Single Family built in 2008, sold for $500 sq. ft.). The highest MLS sale ever posted in the Hill Section was 960 8th for $2,300,000 or $479 sq. ft., back in 2006.

601 1st ST #7 Listed for $950,000 3 bed/3 bath
Front of the townhome
The last sale in this 11-unit condo complex, built in 1990, was unit #3, $742,000 in 2012. The unit currently for sale (#7) last sold in 2003 for $585,000.

132 Neptune Ave Listed for $2,350,000 4 bed/2 bath
132
This property recently sold in 2013 for $1,599,000. The slightly larger home and lot ( 1542 sq.ft. home/1510 lot) next door is currently in escrow. They hit the market at $2,250,000…however, we’ve heard that it went with multiple offers, and over the asking price.

1300 The Strand #127 Listed for $585,000 1 bed/1 bath
1300
There are 2 other units currently for sale:
#330 1 bed/1 bath $699,000 …on the market almost 3 months.
#312 Studio $850,000 with panoramic ocean views…no the market for 112 days.

There were 2 sales last year (2014) in this 96-unit building:
#317 (1 bed/1 bath) $795,000
#227 (0 bed/1 bath) $590,000

PENDING/BACKUP
736 Gould Ave #3 Listed for $1,049,000 3 bed/2.5 bath
736
Well, guess what…it’s in escrow. This is what we wrote about this property in a previous blog, the week it hit the market:
If unit #3 sells anywhere close to the list price, it will be the first unit in this complex to sell for over $1M.

Here are the last 5 sales in this 33-unit complex:

UNIT      PRICE         DATE
#15         $950,000    05/2014
#27        $830,000    03/2014
#19         $798,000    11/2013
#9           $930,000   10/2012
#22         $716,000     09/2012 (2 bedroom unit…others above are 3 bedrooms)

2411 Prospect Ave #307 Listed for $479,000 1 bed/1 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

803 20th St Listed for $1,100,000 3 bed/3.5 bath
803
This one sold off-market before it came back on the market. It was listed last year with a different agent for $1,075,000 and didn’t sell. I’m not surprised to see this one in escrow.

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, called The Mooring. #64 is the 5th recent sale for this complex. The other sales were:
#64 (2 bed/2 bath, 1439 sq. ft.) $799,000 (Still In Escrow)
#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?)

723 3rd St Listed for $879,000 2 bed/3 bath
723
It only took 6 days for this one to go into escrow. This unit is in a 7-unit building located just west of PCH and built in 1985. This townhome last sold in 2012 for $700,000.

2411 Prospect Ave #215 Listed for $365,000 1 bed/1 bath
2411
After only 9 days on the market, this one is in escrow. Not uncommon!
2 others are in escrow:
Unit #307 10 days on the market (in escrow)
Unit # 210 15 days on the market (in escrow)

They sell in 3’s! However, there have been 15 units that have closed sale or are in escrow over the last 2 years in this complex. Is that a high turnover….likely.

The last 3 units that sold in this complex were in September of last year (2014):
#126 2/1.75 sold for $420,000
#209 1/1 sold for $341,000
#224 2/1.75 sold for $452,000

CLOSED
635 5th Street Sold for $1,575,000 4 bed/3.5 bath
635
The market has spoken. This townhome sold for full list price. Both of these larger Spanish Style townhomes, located just east of Ardmore, seem to have been priced within the competitive range.
Here is what other 2014 Townhomes (west of PCH) have sold for:

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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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