This Property Increased 71% Since 2008 In Value. Is This Indicative Of The Market? 7 Day Market Update and Weekend Open House List – Hermosa Beach


8/17/18
4 New Active
3 In Escrow
7 Closed Sales
(see properties below)

62 Active Listings in Hermosa Beach
SFR- 30
TWNHS- 23
CONDOS- 7

Actives by Hermosa Areas:
Sand Section: 33 Active listings
Valley Section: 12 Active listings
East Hermosa: 17 Active listings
With 7 closed properties this week, we’re seeing the results of the properties that sold (went into escrow) toward the end of June and early July. The most notable closing this week is 36 15th. This property closed for $5,395,000, over a 2 million (71%) price increase from its last sale in 2008 for $3,150,000. Other notables are 1706 Manhattan (new to market) listed with approved building plans and permits and priced for $1.1M more than it’s last sale in 2016. As the summer vacation season wraps up, we will likely see an increase in activity after the Labor Day weekend.

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
1706 Manhattan Listed for $3,599,000 2 bed/1 bath

This lot was purchased in 2016 for $2,550,000. It is now back on the market and being with plans and permits for a 2-unit townhome project.

801 Bard St Listed for $1,499,000 3 bed/3.5 bath

801 Bard is part of a 3-unit attached townhome complex located in the sand section of Hermosa. This unit last sold in 2002 for $221,500. 805 Bard (a similar unit) sold last year for $1,325,000.

833 5th #2 Listed for $969,999 3 bed/2.5 bath

833 5th is part of a 10-unit townhome complex on the east side of PCH. This home has ocean views from the rooftop. It last sold in the height of the market in 2006 for $840,000.

723 3rd Listed for $1,190,000 2 bed/2.5 bath

723 3rd is a 7-unit complex. This home sold in 2015 for $879,000.

IN ESCROW
914 Prospect Listed for $995,000 2 bed/2 bath

914 Prospect is a 2 unit duplex in east Hermosa that found its buyer in 11 days. This home last sold in 2001 for $325,000. It appears to be selling for land value. This duplex sits a smaller lot (2598 sq. ft.).

834 Prospect Listed for $1,650,000 3 bed/2.5 bath

834 Prospect was built in 2007 and is located just south of Aviation. It last sold in 2014 for $1,350,000.

6 Meyer Court Listed for $1,899,000 4 bed/3.5 bath

6 Meyer is a brand new detached townhome.

CLOSED
214 10th Sold for $2,300,000 3 bed/3.5 bath

214 10th is attached townhome built in 2003 that has ocean views. It sold in 4 days for $50K above asking price. This home sold in 2012 for $1,325,000. The last unit to sell in this 4-unit complex was 216 10th in 2013, for $1,420,000. This type of unit is hard to come by.

126 8th Sold for $1,800,000 2 bed/2 bath

This one (considered a duplex) sold in 7 days for 95K below asking price.

36 15th Sold for $5,395,000 4 bed/3.5 bath

36 15th sold in 15 days for $400K below asking price. 36 15th is a detached townhome next to Noble Park. This property has direct open ocean views from all levels, yet is set back off the Strand, behind the park. It last sold in 2008 for $3,150,000. This is another example of the huge gains we have seen during this cycle.

700 Loma Sold for $2,525,000 3 bed/3.5 bath

700 Loma and 702 Loma is still on the market for $2,375,000

1851 Rhodes Sold for $2,150,000 4 bed/3 bath

After 2 ½ months and 2 price reductions, this home sold for $445K below asking price. The home was remodeled throughout. It last sold in 1996 for $638K It is located just yards away from PCH, so that likely factored into the buyer demand.

603 3rd Sold for $1,550,000 5 bed/3 bath/2 pwds

603 3rd is a detached townhome in the sand section of Hermosa on the corner of 3rd and Ardmore. This home also has a rooftop deck with some ocean views.

1820 Pacific Coast Sold for $1,659,000 3 bed/3.5 bath

1820 PCH is part of the new townhome development on east side of PCH. This one was on the market for 3 months and started at $1,769,000.

4 New Listings (click to see)
3 In Escrow (click to see)
7 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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Post by Darren Pujalet

Darren has written 287 articles.

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