Inventory Is Still The Driver 7 Day Market Update -Hermosa Beach

Inventory is still low! Properties are selling faster than new inventory is coming to the market. It is rare, even historic to see property inventory levels this low. As you take a look at the activity over the previous 5 weeks (see below), you will notice that the number of properties going into Escrow each week are equal to or greater than the amount of new Active listings coming up. 

7/31/20

6 New Active

6 In Escrow

3 Closed Sales

7/24/20

6 New Active

6 In Escrow

6 Closed Sales

07/17/2020

4 New Active

4 In Escrow

6 Closed Sales

07/10/2020

3 New Active

8 In Escrow

3 Closed Sales

07/3/2020

5 New Active

7 In Escrow

3 Closed Sales

7/31/2020

6 New Active

6 In Escrow 

3 Closed Sales 

(see properties below)

53 Active Listings in Hermosa Beach

SFR- 30

TWNHS- 18

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

1002 5th Listed for $2,399,000 5 bed/4.5 bath\

1002 5th is a single family home built in 1999. This home is in the Hermosa Hill section.  

539 2nd Listed for $1,625,000 3 bed/2.5 bath

539 2nd is a single family home in the little pocket between Ardmore and Valley in southern Hermosa, close to the South Redondo Beach border. This home last sold in 2004 for $879.

421 11th Listed for $1,795,000 3 bed/2.5 bath

421 11th is an attached townhome with a rooftop deck. This home is also being offered as a lease for $8000 per month. It last sold in 2010 for $920,000.

412 Hermosa Ave #9 Listed for $949,000 2 bed/1 bath

412 Hermosa is part of a 9 unit condo complex on Hermosa Avenue. This is the top unit with one shared wall.

951 15th Listed for $2,799,000 4 bed/5 bath

951 15th this brand new 2 on a lot detached townhome east of PCH. Below is the 2nd property sharing this lot. 

945 15th Listed for $2,899,000 4 bed/5 bath

945 15th is the second home built on this lot, listed for $100K more.  

IN ESCROW

1022 17th Listed for $1,699,000 3 bed/2 bath

1022 17th is a duplex in east Hermosa that has gone into escrow. The lot size is 5,607 sq. feet and it may be possible to build 2 townhomes. There is a 2 bed, 1 bath unit and 1 bed, 1 bath unit.

1220 Sunset Dr. Listed for $2,595,000 3 bed/3.5 bath

In 1 week, this home has a buyer. 1220 Sunset drive is a detached townhome (3 in total) in the sand section of Hermosa, 1/2 block south of Pier avenue. This home sold in 2012 for $1,560,000.

1158  8th Listed for $1,650,000 3 bed/2 bath

1158 8th is a single family home located in the Hermosa Hill section. This home leased 2 years ago for $6700. 

123 29th Listed for $4,195,000 5 bed/5 bath

123 29th was on the market last spring for $5,299,000, but after several price reductions it never sold.  After over a year on the market, this home is in escrow. It last sold in 2015 for $4,085,000.

107 Manhattan Listed for $1,699,000 3 bed/2 bath

107 Manhattan is a single family home built in 1924. It is located 1 block from the beach.

849 15th Listed for $1,375,000 3 bed/2.5 bath

849 15th found a buyer in 5 days. This home is an attached townhome east of PCH. This home was leased 2 years ago for $4900.  

CLOSED

212 The Strand Sold for $8,200,000 5 bed/5.5 bath

After a $1.7 million dollar discount, this home has sold. 212 The Strand is a newly constructed home on the Strand. The dirt was acquired in 2015 for $5.8M. It originally hit the market in 2019 for $10,900,000. 

1921 Power Sold for $6,150,000 6 bed/6.5 bath

After a price reduction, this property sold for $350 below the asking price. 1921 Power is a single family home in the Valley area of the Sand Section on a rare, 13,000 sq. foot lot. This home last sold in 2018 for almost $6M.

12 The Strand Sold for $4,800,000 3 bed/3.5 bath

After a $800K price chop, this Strand home has a new owner. 12 The Strand was built in 1987, has 3 levels and is located on the border of South Redondo and Hermosa on the southern end of the Hermosa Strand. This home last sold in 2018 for $5,194,000. 22 The Strand recently sold for $5,610,000, however it is 3600 sq. feet and built in 2001.

6 New Listings (click to see)

6 In Escrow (click to see)

3 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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