Covid-19 & The Hermosa Market…What Lies Ahead – 7 Day Market Update – Hermosa Beach

Covid-19 & The Hermosa Market…What Lies Ahead

Real Estate showings have slowed down considerably due to the virus and the Stay At Home order. This is evident by the number of new pending sales this week.

NPR posted a small graph today comparing California, New York and Massachusetts virus peak dates (see graph below). It is estimating the California peak to be April 15th and then trail off some time in the distance. As the restrictions loosen up, we expect to see new transactions actively rise in numbers in the short-term.

4/10/2020

6 New Active

0 In Escrow

5 Closed Sales

(see properties below)

48 Active Listings in Hermosa Beach

SFR- 29

TWNHS- 13

CONDOS- 3

Actives by Hermosa Areas:

Sand Section:             25 Active listings

Valley Section:             9 Active listings

East Hermosa:             14 Active listings

CURIOUS WHAT PROPERTIES ARE AVAILABLE OFF-MARKET?
(See bottom of email thread for more information)

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

446 Bayview Dr. #2 Listed for $2,100,000 3 bed/3.5 bath

446 Bayview is a detached townhome in the sand section of Hermosa. This home sold last April for $1.9M and was upgraded inside.

2440 Silverstrand Listed for $5,999,000 4531 5 bed/4 bath/2 pwds

2440 Silverstrand is a brand new 2020 built single family home in the sand section of Hermosa. This lot sold in 2017 for $2,325,000 prior to construction. It is located on one of my favorite streets, Silverstrand. Although this is one of my favs, I prefer the west side of the street because it offers big west facing views of the water.  This home sits on the east side of the street, and offers minimal ocean views from the living area.

Silverstrand before construction.

121 16th Listed for $4,449,000 4 bed/3.5 bath

Back on the Market! 121 16th is a brand new 2019 single family home with nice ocean views. It is located just north of downtown, far enough away from the noise and crowds and close enough to walk to everything, including the sand…just steps away.

1600 Ardmore #226 Listed for $769,990 2 bed/2 bath

There are about 4-5 sales in this complex every year… check out the chart below showing last year’s sales.

1246 19th Listed for $1,750,000 3 bed/2.5 bath

This home is back on the market…  1246 19th is a single family tall-skinny home in east Hermosa. It was on the market last fall for $1,789,000.  This home last sold 2 years ago for $1,414,000.

1720 Ardmore #325 Listed for $639,900 1 bed/1 bath

This condo complex, known as “The Apple Tree,” has had 5 sale since the beginning of 2019.

IN ESCROW

None this week

CLOSED

2005 Manhattan Ave Sold for $3,150,000 3 bed/2 bath

After 661 days on and off the market over the last few years, this one finally sold. It last sold in 2015 for $3M.

1706 Manhattan Ave Sold for $3,150,000 3 bed/3.5 bath

1706 Manhattan has sold, however 1705 Bayview (on the same lot) has fallen out of escrow and is back on the market. 1706 Manhattan is a 2019 built attached townhome with ocean views.

1617 Raymond Sold for $1,650,000 3 bed/2 bath

This one sold for $71K above the listing price. 1617 Raymond is single family home on the east side of PCH. It was on the market last year and sold for $1,250,000, however it appears to have been remodeled and upgraded.

640 Hermosa Sold for $1,900,000 3 bed/3 bath

640 Hermosa is part of a 6-unit complex of detached townhomes built in 2007. This is the front unit and arguably the best one. They paid $1,235,000 in August 2009. I worked on these properties when they were first developed, spending a lot of time holding this one open.

1124 11th St Sold for $1,165,000 3 bed/2 bath

This home has sold after 3 weeks and $134K off the listing price. It last sold in 1991 for $275K. Currently, it is the lowest priced 3 bedroom, single family home in Hermosa.

6 New Listings (click to see)

0 In Escrow (click to see)

5 Closed Sales (click to see)

CURIOUS WHAT PROPERTIES ARE AVAILABLE OFF-MARKET?

Have you been looking for a home or investment property, and haven’t been able to find what you’re looking for….or missed out on an opportunity?

We have access to a network of off-market and coming soon properties.
Describe and share with us what you’re looking for and we will let you know what is currently available and/or search for some options that you may never be able to find online or on the market.

DO YOU HAVE EVEN A REMOTE THOUGHT OF SELLING….WHAT YOU SHOULD KNOW?

If you’re considering selling, please call me to discuss some of your unique options, a few crucial challenges you can avoid, and how to maximize your return. We have some valuable insights you should know before putting your home up for sale.

If you have any questions about the previous properties or any other properties here in Hermosa Beach or the South Bay area, please call or text me direct at 310-613-1690 or email me at dronp@aol.com.

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Post by Darren Pujalet

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