Has Covid Affected Our Property Sales??? 7 Day Market Update – Hermosa Beach

Amazing…our year-to-date sales are actually up from last year, even after almost 3 months of the “Stay At Home” lockdown, the challenges in showing real estate & holding open houses, and market uncertainty. We have had 82 closed sales this year in Hermosa Beach, 2 up from last year. Currently, we have 29 escrows in Hermosa, so, I expect the differential in closed sales from 2019 to 2020 to be even greater in the next few months. With 56 active listings, we only have 1.9 months of inventory. History shows that 4 months or less of inventory is considered a seller’s market. 

YEAR TO DATE CLOSED SALES IN HERMOSA

6/26/2020

6 New Active

5 In Escrow 

5 Closed Sales 

(see properties below)

54 Active Listings in Hermosa Beach

SFR- 29

TWNHS- 16

CONDOS- 4

Actives by Hermosa Areas:

Sand Section: 39 Active listings 

Valley Section: 6 Active listings 

East Hermosa: 9 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

3001 The Strand Listed for $15,900,000 5 bed/5.5 bath

3001 The Strand was on the market in 2019 for $21M, however after several price reductions, it did not sell. It last sold in 2013 for $10M. 

815 Cypress Listed for $2,399,000 5 bed/4 bath/1 pwd

815 Cypress is a duplex located in the sand section near Clark Field. The front unit is a 3 bed/2.5 bath and the rear unit is a 2 bed/2 bath. This duplex sold in 2014 for $1,570,000. 

736 Gould #24 Listed for $1,229,000 3 bed/3 bath

736 Gould is an attached townhome. It was recently on the market at a higher price, however with a price adjustment, it has been re-listed.  

507 Monterey Listed for $1,968,000 3 bed/2.5 bath

507 Monterey is back on the market for a slightly lower price. This home last sold in 2012 for $1.2M.

821 Cypress Listed for $1,699,000 5 bed/4 bath/1 pwd

821 Cypress, another duplex, is listed next door to the above duplex at 815 Cypress.  The front unit is a 3 bed/2.5 bath and the rear unit is a 2 bed/2 bath. This home sold in 2012 for $2.1M.

638 6th Listed for $1,599,000 3 bed/3 bath

638 6th is a detached townhome built in 1989 that was recently upgraded. This home last sold in 2013 for $1,065,000.

IN ESCROW

601 11th Listed for $2,479,000 8 bed/4 bath

After 5 months and 3 price reductions, this triplex is in escrow.  601 11th is a triplex on the corner of 11th and Ardmore. This property has 2 buildings, #1 building is a 2 bed, 1 bath cottage with upgrades and the second building has 2 units; a 3 bed, 2 bath and a 2 bed, 1 bath.

667 Longfellow Listed for $2,499,000 3 bed/2 bath /1 pwd

After a $200K price reduction this home has a buyer. 667 Longfellow is a single family up on the Longfellow hill, adjacent to the Manhattan Hill Section. This home just sold in 2019 for $2.2M.

1010 8th Listed for $1,349,000 2 bed/2 bath

1010 8th is a duplex with an upper and lower unit that has gone into escrow after 4.5 months. 

707 3rd Listed for $1,495,000 2 bed/1 bath

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After 3 months and a $55K price reduction this home is in escrow. 707 3rd is a single family home on a 4608 sq. foot R-2 zoned lot, which means you may be able to build 2 townhomes. 

2481 Valley Listed for $2,100,000 3 bed/2 bath

2481 Valley sits on a 6641 sq.  foot lot. This home is being sold mainly for dirt value. There are plans and renderings of what could be built on that lot. This property last sold in 2018 for $1,850,000.

CLOSED

2440 Silverstrand Sold for $5,620,000 4531 5 bed/4 bath/2 pwd

This lot sold in 2017 for $2,325,000 prior to the construction. The Hermosa new construction is continuing to sell. We recently sold 1601 Manhattan Avenue, another recent high-end, $5M sale.

1007 Monterey Sold for $2,050,000 3 bed/4 bath

This home sold in 2 weeks for $50K under asking price. 1007 Monterey is an attached townhome built in 1998. There are 8 units in this complex. The last sale was in 2012, for $1,349,000 (1005 Monterey).

663 Longfellow Sold for $2,400,000 3 bed/2.5 bath

663 Longfellow is a single family home on the popular Longfellow street. This home sold in 2019 for $ 2,290,000.

305 10th Sold for $2,900,000 4 bed/3.5 bath

305 10th is a brand new attached townhome in the sand section. There is a total of 3 new units on the property. This is the first one to close escrow. 

1705 Bayview Dr. Sold for $3,199,000 4 bed/4.5 bath

1705 Bayview is a brand new attached townhome built last year. It was active on the market for 175 days last year before it was re-listed with a different real estate company. 

6 New Listings (click to see)

5 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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