Spring Is Here….In The Summer. The Market Is Ramping Up. 7 Day Market Update – Hermosa Beach

Properties have been moving recently, largely due to lower inventory, lower interest rates and several months of pent up demand during Covid-19 season. In Hermosa, we have 4 coming soon properties and 55 properties actively for sale. 

I am hearing rumors of multiple offer and All-Cash sales happening across the South Bay. With 8 new properties and 6 new pending properties this week, activity is increasing. Let’s see how the balance of new inventory and new escrows progresses over the next month. My prediction is that both will continue to be strong through July. 

5/29/2020

8 New Active

6 In Escrow 

0 Closed Sales 

(see properties below)

56 Active Listings in Hermosa Beach

SFR- 36

TWNHS- 13

CONDOS- 3

Actives by Hermosa Areas:

Sand Section: 31 Active listings 

Valley Section: 12 Active listings 

East Hermosa: 13 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

303 10th Listed for $3,250,000 4 bed/3.5 bath

303 10th is a brand new attached townhome in the sand section a block from the sand. There is a total of 3 new units on this property. See the other unit for sale below.  

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

305 10th the 2nd for sale of the 3 units. 

Below are other Coming Soon and Pending 2019 & 2020 Built Sand Section Townhomes.

Below are other Recently Closed 2019 & 2020 Built Sand Section Townhomes

1245 8th Listed for $1,399,000 3 bed/2 bath

1245 8th is a single family home located in east Hermosa beach. This home last sold in 2015 for $1,175,000.

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. This home last sold in 2015 for $4,085,000.

1602 Loma Listed for $3,000,000 5 bed/3 bath

1602 Loma is a 1920’s triplex in the sand section. It is currently vacant and is being sold with plans. This is a big number for the land, however there are 2 brand new townhomes a few doors to the north priced around $3M each. 

1634 Bayview Listed for $1,825,000 3 bed/2 bath

1634 Bayview is a single family home built in 1923 that is 3 blocks to the water. 

1218 2nd Listed for $1,700,000 3 bed/2 bath

1218 2nd has been completely remodeled. See before picture below from when it sold in 2018 for $1,153,000.  

PICTURE FROM 2018

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.

IN ESCROW

900 Manhattan Ave Listed for $2,499,000 4 bed/3.5 bath

After 4 months on the market, this home found a buyer. 900 Manhattan is an attached townhome built in 2001 with ocean views. This home sold for $2.3M in 2016. 

2440 Silverstrand Listed for $5,999,000 4531 5 bed/4 bath/2 pwd

In about a month and a half this new build is in escrow.  2440 Silverstrand is a brand new 2020 built single family home in the sand section of Hermosa. This lot sold in 2017 for $2,325,000 prior to construction. The high-End is also moving in this market. We recently sold 1601 Manhattan Avenue, another recent high-end sale.  See the recent sales below. 

Other Single Family New Construction coming to the market or recently sold. 

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

In 1 week, this $3M-ish home went into escrow. 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 relisted with a different real estate company. 

940 15th Listed for $2,599,000 4 bed/4 bath

After 2 months and 3 price reductions, this home has a buyer. 940 15th is an attached townhome with ocean views from the roof top deck. This lot sold in 2016 for $1.5M. (before construction of 2 new townhomes).

1505 loma Listed for $1,199,000 2 bed/2 bath

1505 Loma is a quintessential Hermosa cottage style duplex located a block away from downtown and 3 blocks to the water. It is priced very well and thus why it went into escrow in only a month. 

1921 Power Listed for 6,199,000 6 bed/6.5 bath

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, close to its current list price.

CLOSED

None this week

8 New Listings (click to see)

6 In Escrow (click to see)

0 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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