Would Your Property Sell For 8 Times As Much As You Paid For It? This One Did! 7 Day Market Update and Weekend Open House List – Hermosa Beach


9/14/18
4 New Active
2 In Escrow
4 Closed Sales
(see properties below)

63 Active Listings in Hermosa Beach
SFR- 31
TWNHS- 24
CONDOS- 6

Actives by Hermosa Areas:
Sand Section: 33 Active listings
Valley Section: 12 Active listings
East Hermosa: 18 Active listings

The Beach Cities has one of the most robust real estate markets in the country. Home prices in our area have soared over the last 6-7 years, and we are well past the price
ceiling reached in 2007 prior to the last market crash. Even though California as a whole is a bullish state regarding real estate, there are many areas inland that have seen only minimal increases over time. One of the properties that closed this week sold for 8 times the price it was purchased for 29 years ago (that equal once every 3.6 years). We are
fortunate to live in a great community, and it’s clear that people from all around the world agree.


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
1230 Owosso Listed for $1,350,000 2 bed/1 bath

1230 Owosso is a vintage 1921 built, 2 bed/1 bath home located west of Prospect. This home was restored and updated in 2016. It last sold in 2014 for $792,500.

3330 The Strand Listed for $10,800,000 5 bed/5 bath/2 pwds

3330 The Strand is a completely remodeled home. It shows beautifully. This home sold in 2016 for $8M. It was on the market last June for $12,500,000 after its remodel, however did not sell.

248 34th Listed for $2,795,000 4 bed/2 bath/1 pwd

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.

645 2nd Listed for $1,450,000 3 bed/2.5 bath

645 2nd is part of an attached, 3-on-a-lot townhome complex. This home last sold in 2006 for $1,260,000.

IN ESCROW
711 30th Listed $2,499,000 3 bed/3 bath

It took over 3 months and a $300K price reduction to engage the current buyer. 711 30th was built 10 years ago and is perched up on the hill in the flats of 30th street, west of PCH and North of Gould. This home has nice ocean views from the rooftop deck.

1707 Pacific Coast Hwy #409 Listed for $539,000 1 bed/1 bath

It took 2 ½ months and a $26K price reduction to get this condo into escrow. 1707 PCH is 73 unit complex on the west side of PCH. It is one of the largest complexes in our city. Unit 509 is currently in escrow listed at $579,000. This home last sold in 2015 for $429,000.

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

6 Meyer is a brand new detached townhome.

101 Lyndon Sold for $2,450,000 3 bed/4 bath

After 3 ½ months and a $330K price reduction, this chapter has closed. 101 Lyndon is a condo (1 of 4 units) 1 block from the beach and the Hermosa/South Redondo border.  It recently sold in 2016 for $1,792,000. That’s a huge spread in 2 years. 

1102 Cypress Sold for $2,150,000 3 bed/3.5 bath

After going on and off the market, this home has finally sold. 1102 Cypress is part of 3 attached townhomes. We wrote about 1100 Cypress which sold for $2,450,000 and 1104 Cypress which is currently on the market for $2,199,000.

450 28th Sold for $1,775,000 2 bed/1.5 bath

450 28th sold off-market (it shows 2 days on market) and for $29K above what it floated off-market for. This home last sold in 1987 for $220K. This is another example of why owning real estate over time here in the beach cities eventually pays off. This property sold for 8 times its purchase price in 29 years (once every 3.6 years for this property).

4 New Listings (click to see)
2 In Escrow (click to see)
4 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

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