7 Day Market Update- Hermosa Beach

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Ready, set, go! Now that we are past the summer travel season, we’ll see if the market heats back up again. Already we have 6 new listings compared to 3 last week and 1 the week prior. Our inventory is still very low and the looming issue of rising interest rates has been motivating buyers to take action. Let’s see how the story unfolds over the next 2 months before we slip into the typically slower holiday season.

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 below to see the recent Active, Pending and Closed properties in HB.

NEW THIS WEEK (See photos below)
6 New Listings (click to see)
3 In Escrow (click to see)
2 Closed Sales (click to see)

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openhouses

2411 Prospect Ave #224 Sold for $452,000
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2411 Prospect has been a very active building in the last 2 years with 13 sales in 2013 and 2014. With only 64 units total, that’s almost a 25% turnover in about 20 months. HUM! This sale marks the highest 2 bedroom sale $338,000 marks the highest 1 bedroom sale recently, closing in July of this year.

1504 Silver St. Sold for $1,525,000
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Can you say do over? These sellers did. 1504 Silver was listed by an out-of-area agent earlier this year, in March. They came out listed at $1,695,000 and the home sat on the market for 99 days before the sellers cancelled. Several days later, the home was relisted with a local agent for $100K less…$1,599,000. It only took 30 days to close at $1,525,000. Price it right and hire a local professional…..that’s the story in this market.

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Post by Darren Pujalet

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