Look At This Year’s New Construction Trend…7 Day Market Update and Weekend Open House List – Hermosa Beach

New construction is still moving the needle here in the South Bay. Here in Hermosa,
we currently have a lot of active, in escrow and closed 2018 new construction builds.

2018 Built:
15- Active for sale
5- In Escrow
19- Closed Sales

The new construction properties currently active are averaging more than 140 days on market. 212 The Strand that has been on the market for 472 days, 58 The Strand is clocking 313 days and 704 Loma is up to 301 days. However, the closed 2018 built sales are averaging closer to 45-50 days on market. If you build the right product, in a good location and price it correctly, it will sell quicker without having to take a deep discount. In 2017, we had 24 2017 builds sell. We are on track this year to mirror last year’s sales.

11/30/18
1 New Active
3 In Escrow
5 Closed Sales
(see properties below)

50 Active Listings in Hermosa Beach
SFR- 28
TWNHS- 19
CONDOS- 3

Actives by Hermosa Areas:
Sand Section: 22 Active listings
Valley Section: 12 Active listings
East Hermosa: 16 Active listings

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
637 7th Listed for $2,748,000 4 bed/4 bath
637 7th is a brand new 2 on a lot townhome that sits 5 properties east of Ardmore. 635 7th, the attached townhome to the rear, is currently in escrow at the same list price. This lot was purchased in 2015 for $1,525,900.

IN ESCROW
2302 Ozone Ct Listed for $880,000 1 bed/2 bath

This duplex has a lower studio unit and an upper 1 bed 1 bath unit and is located 2 blocks from the water. This property last sold in 1992 for $237K.

18 5th Listed for $3,699,999 3 bed/4 bath
After 5 months and a $200K price reduction, this home has gone into escrow. It’s located on the alley right behind The Strand, on the corner of beach and 5th. This home last sold in 2013 for $2,099,000.

1218 6th Listed for $2,399,000 4 bed/4 bath
It took 3 months and $200K price reduction, however this home now has a buyer. 1218 6th is a brand new single family home located east of Prospect. The lot was purchased in 2016 for $1,250,000.

CLOSED
651 9th Sold for $1,700,000 4 bed/4 bath
This home sold in 2 weeks for $99K below the list price. 651 9th is part of a 4 on-a-lot attached townhome complex, 5 properties east of Ardmore. This home last sold in 2002 for $740K. It’s a good location, close to Clark Field and Downtown Hermosa.

837 15th Sold for $1,520,000 3 bed/2.5 bath
That was quick….6 days! 837 15th is part of a 3-unit attached townhome complex. This property last sold in 2010 for $830K.

64 15th Ct. Sold for $1,825,000 3 bed/2 bath
After almost a year on the market, this home sold for $470K below the asking price. 64 15th sold in July 2017 for $2M. However after only 2 months, it went back on the market for $2,495,000.

248 34th Sold for $2,650,000 4 bed/2 bath/1 pwd
After 23 days and a $145K discount, this home has sold. 248 24th is a single-family home in the sand section of Hermosa with Panoramic ocean and city views from the rooftop deck. We sold this property in 2015 off-market for $2.6M to the current owners. It’s a great street and this property has a lot of potential. It most likely sold to a developer.

702 Loma Sold for $2,215,000 3 bed/3.5 bath
It took 4 1/2 months and a $160K discount! 702 Loma is part of a brand new 3 on a lot free standing detached townhome complex. 700 Loma is a on the market as well for $2,575,000.

1 New Listings (click to see)
3 In Escrow (click to see)
5 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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