Interest Rates, Shifting Market, Holiday Fog….OR? 7 Day Market Update and Weekend Open House List- Hermosa Beach

UPDATE_HEADER
11/18/16
The market is entering a normal end-of-year slow down phase, hence the minimal amount activity this week. Although, I have noticed a slight push to get properties up and going before we get to deep into the holiday fog (mid-Dec. to mid-Jan.). We may see one last burst of activity right after Thanksgiving. Also post-election, the interest rates ticked up and that usually contributes to a short-term cool down of activity. Barring any national or international news…I feel strongly that the market will come out of the gate again next year starting mid-January. Eagerly watching!

1 New Listings (click to see)
2 In Escrow (click to see)
0 Closed Sales (click to see)

49 Active Listings in Hermosa Beach
SFR- 32
TWNHS- 15
CONDOS- 0

Actives by Hermosa Areas:
Sand Section: 27 Active listings
Valley Section: 6 Active listings
East Hermosa: 16 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
1830 The Strand Listed for $7,999,999 6 bed/4 bath
1830
This home first hit the market in May for about 4 months, however it didn’t sell. With a small price improvement, it is back on the market with a different company. Strand properties… we’ve all walked by them and wondered how much they sell for. Below is a list of what has happened this year with Strand properties in Hermosa Beach.
1830-the-strand
IN ESCROW
1004 6th Listed for $1,995,000 4 bed/3.5 bath
1004
That was quick! In less than a week, it already has a buyer. This attached townhome was built in 2003 and has ocean views from the rooftop. It is a large townhome with over 3,300 sq. ft. Since the 2 townhomes are attached, there isn’t a setback requirement/building code (distance in between the 2 townhomes, which can be as much as 20 feet), allowing that space to be used as living sq. footage, thus making it potentially larger in size. This property last sold in 2006 for $1,750,000.

618 1st Listed for $1,299,000 3 bed/3 bath
618
The price reduction must have worked….it only took 7 days after to go into escrow. This home first hit the market in August 2016 for $100K more, however after about 3 months, it was cancelled and put back on the market 3 days later. Hence, it has really been on the market for 97 days. . This is a detached townhome that is located one block north of Herondo, which is the Hermosa/South Redondo border. It last sold in 1999 for $450K. The other townhome on this lot, 616 1st last sold when it was built in 1998 for $487K.

CLOSED
NONE AT THIS TIME

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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