Sales stay strong! Will the election effect our real estate market? 7 Day Market Update and Weekend Open House List – Hermosa Beach

UPDATE_HEADER
After what seemed like an extremely slow August and first part of September this year, the market feels strong again for the moment. I’m sure some people of standing on the sidelines to see what happens with the election, however that question will be answered in less than a month. The # of Active listings is staying steady (currently at 47 for the whole city, 28 of which are in the sand section), with 33 properties in escrow. We are at 178 year-to-date sales compared to 224 for the entire year of 2015. I think the market is going to stay in motion this year until the middle of November before we start to see it wind down.

10/14/16
3 New Listings (click to see)
7 In Escrow (click to see)
4 Closed Sales (click to see)

49 Active Listings in Hermosa Beach
SFR- 33
TWNHS- 11
CONDOS- 5

Actives by Hermosa Areas:
Sand Section: 30 Active listings
Valley Section: 11 Active listings
East Hermosa: 8 Active listings
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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
3410 Hermosa Ave Listed for $4,750,000 2 bed/3 bath
3410
This modern style home last sold in 2013 for $4,600,000. It has been on and off the market since December 2015. It is called “the tallest home in Hermosa,” giving it unblockable ocean views.

446 Monterey #L1 Listed for $989,000 3 bed/2 bath
446
This is a popular complex located west of South Park on Monterey. Out of 34 units, there have been 2 other sales this year. #3H just sold a month ago for $1.2M off market.
446-screen
526 24th Place Listed for $2,299,000 3 bed/2.5 bath
526
This single family home has been completely remodeled and is located ½ block west of Valley. It sold off market in 2014 for $1,550,000. 601 24th (the other side of Ardmore) just sold in September for $2,207,000.

IN ESCROW
1220 Ocean Drive Listed for $1,699,000 3 bed/3.5 bath
1220
After a week on the market, this property has a buyer. It last sold in 2006 for $1,395,000. 1220 Ocean is only 2 lots north of Aviation and has ocean views.

164 Ardmore Listed for $1,349,000 4 bed/3 bath
164
It took a little over a month, however this one is in escrow. It’s part of a 12-unit complex that was built in 2001. This townhome last sold in 2010 for $960K. We sold the last unit in this complex, 617 1st place in 2014 for $1,170,000. It was a larger, interior unit with 2340 sq. ft. My guess is that this one sold under $1.3M and the buyer landed a solid deal. We will see once it closes.

516 24th ST Listed for $1,399,000 2 bed/1.5 bath
526
After 4 months it has a buyer. This one first hit the market in June of this year for $1,559,000 and didn’t sell. It then came back on the market for $160K less. This single family home is located about 5 blocks from the beach. It sold in 2012 for $965K, however there have been some upgrades since that time. It’s a very cute Hermosa style beach cottage with some backyard area. We liked this property.
526-comp
438 28th St Listed for $2,099,000 4 bed/2.5 bath
438
This is a single family home located just west of PCH. The home was last purchased in 2005 for $1,312,000, but has since been remodeled and updated.
Here is another recent sale down the street: 412 30th sold for $2.3M

460 Gentry Listed for $1,575,000 3 bed/2.5 bath
460
This home sold to the current owners in 2006 for $925K. Gentry has been a busy street in 2015 and 2016. See the other four 2016 sales below:
gentry
37 20th Listed for $4,499,000 3 bed/2.75 bath
37
Located on a highly desired walkstreet in Hermosa, a few steps to the sand, this single family home went quick. After 2 weeks, it has a buyer.

3320 The Strand $8,795,000 3 bed/3.5 bath
3320
This strand property never made it on our new active list because it was only on the market for 5 days before finding a buyer. This property was on the market earlier this year, but didn’t sell.

CLOSED
1946 Ava Ave Sold for $1,610,000 2 bed/2 bath
1946
This one sold for $11K above the initial asking price. It’s a single family home located 1 street east of the greenbelt. The property recently sold a year ago in the beginning of 2015 for $1,400,000. That’s a 15% increase in just a year.

325 Reynolds Sold for $1,725,000 5 bed/4 bath
325
Sold in about 4 months for $74K below the original asking price! This is brand new construction that sits right on the Hermosa/Redondo border. The tax records show that the dirt was sold for $315,000 in 2013 as a foreclosure. That is an extremely low price for a 3000 sq. ft. lot anywhere in Hermosa (who knows)? The location is challenging though…it sits on a narrow alley facing east toward Redondo.

2468 Silverstrand Ave Sold for $1,975,000 4 bed/3 bath
2468
After a few months and a $24K price reduction, this home has closed sale. This triplex has two, 1bed/1bath units with another 2 bed/1 bath unit above it. Although it likely does not pencil as a great income investment, the land and location give it its value. This property last sold in 2004 for $1,362,500. (Picture above is conceptual design/rendering). The lot has a funky triangle shape (62 X 76 X 96 feet), which is part of the challenge when building a new structure. It didn’t stop these buyers

132 28th St Sold for $3,999,999 4 bed/4.5 bath
132
I love this home…and now it has sold for $500K below the original asking price. It’s located just steps from the Strand and beach in northern Hermosa and has enjoyable ocean views. It was built in 2008 and last sold in 2009 for $2.9M.

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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