Inventory Is Picking Up…What Does That Mean For Sellers? 7 Day Market Update and Weekend Open House List-Hermosa Beach


9/21/18
5 New Active
3 In Escrow
1 Closed Sales
(see properties below)

63 Active Listings in Hermosa Beach
SFR- 32
TWNHS- 22
CONDOS- 7

Actives by Hermosa Areas:
Sand Section: 31 Active listings
Valley Section: 12 Active listings
East Hermosa: 20 Active listings
The market was busy this week. We have 5 new properties on the market and 3 new escrows. We have seen 142 closed sales so far this year here in Hermosa. With 61 active listings currently, the inventory is as high as we have seen in recent history. Unfortunately, a good portion of the active inventory has been on the market for a while. 48 of the 61 properties have been on the market for 3 weeks or longer, 17 of them on for more than 6 months. Read below to find out what took place this week here in our beach city.





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
1274 Owosso Listed for $2,195,000 4 bed/3.5 bath

1274 Owosso is a single family home located just west of Prospect in the Hermosa hills. This home last sold in 2013 for $1.7M. This is our pick of the week and we think it’s sitting in a good price point.

25 8th Ct. Listed for $2,395,000 3 bed/3 bath

25 8th Ct is located only a few properties from the strand. This home has peek a boo ocean views from the rooftop. It last sold in 2010 for $1,325,000.

2411 Prospect #301 Listed for $799,900 3 bed/2 bath

2411 Prospect is part of a 63-unit condo complex. This is the first sale in this complex this year.

1131 19th Listed for $1,199,000 2 bed/1 bath

1131 19th is a single family home built in 1905. This home was last purchased in 2002 for $410K.

1218 2nd St Listed for $1,099,000 3 bed/2 bath

1218 2nd is a single family home in the Hermosa Hills section. It is a fixer, however this one will seller right away. The current owners bought it less than a year ago for $940 and have done anything to the property.

IN ESCROW
1523 Manhattan Listed for $2,425,000 4 bed/5 bath

1523 Manhattan was listed for 19 days and has a buyer. This detached townhome has ocean views. This home last sold in 2009 for $1,325,000.

723 3rd Listed for $1,140,000 2 bed/2.5 bath

It took a little over a month and a $50K price discount to put this property into escrow. 723 3rd is a 7-unit complex. This home sold in 2015 for $879,000.

1955 Monterey Listed for $4,949,000 4 bed/4.5 bath

1955 Monterey was built in 2016 and has been on and off the market ever since. It was first listed at $5,199,000 for a year and half with no takers then lowered to $4,999,000. The lot was purchased in 2014 for $1,955,000. Rumor is the buyers received another nice discount.

CLOSED
1113 Valley Sold for $1,285,000 2 bed/2.5 bath

That was quick…2 weeks! This home sold for $14K below initial asking price. 1113 Valley is one of 4 attached townhomes west of Valley and the greenbelt. This home last sold in 2015 for $1,099,000.

5 New Listings (click to see)
3 In Escrow (click to see)
1 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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