Did The Market Go On Vacation? 7 Day Market Update and Weekend Open House – Hermosa Beach

8/16/19

5 New Active

4 In Escrow

4 Closed Sales

(see properties below)

68 Active Listings in Hermosa Beach

SFR- 39

TWNHS- 24

CONDOS- 4

Actives by Hermosa Areas:

Sand Section:             38 Active listings

Valley Section:             11 Active listings

East Hermosa:             13 Active listings

The market is feeling a bit sluggish this month. Contrary to most of the United States, August is typically a slower month here in the beach cities due to summer travel and distractions and the amount of real estate agents that take time off.  We currently have 64 active properties for sale, or about 2.5 months of inventory. That is far from a stale market. However, it will be the closings in September and October that truly indicate how active the end of our summer market has been. We have had 49 sales in the last 90 days, compared to 57 last year and 66 in 2017. Labor Day is around the corner and I expect to see more new inventory hit the market in September.

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

1932 Ava Listed for $1,399,000 3 bed/2 bath

1932 Ava is a beach cottage built in 1947 with a nice backyard. This home has a ton of potential and is in an accessible price point for Hermosa.

661 25th Listed for $4,690,000 5 bed/5.5 bath

661 25th is a brand new 5 bed, 5.5 bath home with Catalina and ocean views. This lot was sold in 2017 for $1,675,000.

1107 Valley Listed for $1,350,000 2 bed/2.5 bath

1107 Valley is part of a 4 on a lot townhome complex located. This home last sold in 2016 for $1.2M.

224 2nd Listed for $2,969,000 4 bed/4.5 bed

224 2nd was built this year along with 222 & 226 2nd street.

1202 20th Pl Listed for $1,250,000 2 bed/1 bath

1202 20th was built in 1953, however it has been remodeled and has a beach cottage vibe. This property just sold in May of this year for $855,000. That is a huge increase. Let’s see what happens with this one.

IN ESCROW

477 25th Listed for $4,595,000  4 bed/3.5 bath

This home went into escrow after 1 month. 477 25th was on the market in 2017 for $400K more, however it did not sell. This single-family home was built in 2012 and has ocean views.

222 2nd St Listed for $3,618,000 4 bed/4.5 bath

After a small $21K price reduction this home has a buyer.  222 2nd is a brand new 2019 detached townhome close to the Redondo border. This home is part of 3 beautifully constructed properties.

1539 Bonnie Brae Listed for $1,400,000 3 bed/2 bath

It took 8 days to find a buyer! 1539 Bonnie Brae was built in 1940. It has charming details throughout, however this home will need upgrades. 

2026 Hillcrest Listed for $1,409,000 3 bed/2.5 bath

It took 2 ½ months and a $50,000 price reduction for this one to go into escrow. 2026 Hillcrest is a single-family home located one street west of prospect and has peek-a-boo ocean views. This home last sold in 2014 for $975K.

CLOSED

1074 7th Sold for $2,062,500 4 bed/3.5 bath

After 4 price reductions, this home has sold for $287K below the initial asking price. 1074 7th is a detached townhome built in 2016 by Steve Lazar. This home has ocean views and last sold in 2016 for $2,025,000.

645 2nd Sold for $1,360,500 3 bed/2.5 bath

It took 10 months and a $90K price discount, however this one has sold. 645 2nd is part of an attached, 3-on-a-lot townhome complex.  This home last sold in 2006 for $1,260,000.

516 8th Sold for $1,775,000 3 bed/2.5 bath

After 3 weeks on the market and only a $25K off the initial asking price, this home has sold. 516 8th was built in 2008. This home last sold in 2008, the year it was built, for $1,075,000.

226 2nd St #3 Sold for $3,500,000 5 bed/4.5 bath

That was quick, in only 2 days this home sold. 226 2nd is a brand new 3 on a lot detached townhome located a block north of Herondo.

5 New Listings (click to see)

4 In Escrow (click to see)

4 Closed Sales (click to see)

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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