Year in review – Hermosa Beach

Hermosa….if you are fortunate to live here, you are fortunate. Our little beach community continued to show strength in 2018. Although total sales were down 4% from last year, home prices in 2018 continued to push forward for yet another year. The median price point in 2018 was $1,709,000 VS. $1,649,000 in 2017. Since the last crash in 2008 and bottom toward 2010, we have had a long bullish real estate run in the country as a whole and Hermosa Beach in particular. 2019 may be a year of leveling due to the affordability of property, price escalation and potential interest rate increases.

Notable Sales:

633 30th Street Sold for $8,300,000

This is my pick for the most notable sale of the year. It’s huge number for west of the greenbelt. I think the fact that it is Manhattan Hill Section adjacent may have helped influence the buyer.

3330 The Strand Sold for $10,500,000

This was another big number for a rebuild/remodel….selling for $3,331 per square foot. This property sits in a great stretch of the northern Strand, just south of the 90210 house.

1932 The Strand Sold for $10,500,000

1932 The Strand was a beautiful build that unfortunately took 202 days to close. They started at $11,950,000 and the market continued to reject their number until last December when a buyer stepped to close the deal.

1707 Pacific Coast Highway #303 Sold for $495,000

This was the lowest sale of the year in Hermosa. In fact, the 3 lowest sales of the year all came from this building.

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Post by Darren Pujalet

Darren has written 315 articles.

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