Inventory picks up as the South Bay is drying out…see what we mean. 7 Day Market Update and Weekend Open House List-Hermosa Beach


3/3/2017
6 New Listings
2 In Escrow
4 Closed Sales
(see properties below)

After 2 months of near continuous rain, the South Bay sun is back. Although it may be for a short period of time, the weather is good, the land is drying out and properties are trickling on the market. The 2017 selling season is ramping up.
We have had 24 year-to-date sales so far in Hermosa and currently we have 21 in escrow and 43 active on the market. With 226 sales last year (18.83 per month),
We have a little over 2 months of inventory available, still indicating a seller favored market (6 months is the buyer/seller equilibrium).

39 Active Listings in Hermosa Beach
SFR- 23
TWNHS- 13
CONDOS- 2

Actives by Hermosa Areas:
Sand Section: 21 Active listings
Valley Section: 8 Active listings
East Hermosa: 10 Active listings


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
1040 8th St Listed for $1,995,000 4 bed/3.5 bath

This detached townhome was built in 2000 and has some ocean views in the distance. It last sold in 2013 for $1,460,000.
Below are some similar sales in the Hermosa Hill Section:

1233 21st St Listed for $1,189,000 4 bed/2 bath

This single family home sits 2 blocks south of Manhattan Beach and 1 block west of Redondo Beach. The property was built in 1953 and is situated on a double lot (approx. 5003 sq.ft.). It has a mid-century modern feel that has been very popular with buyers here in the South Bay. Between price and style, my guess is that this one will sell with multiple offers.

445 Monterey Listed for $1,980,000 4 bed/4.5 bath

This detached 2-on-a-lot townhome was built in 1998. The unit last sold in 2005 for $1,425,000 and has been on and off the market 5 times since then. It was on the market in 2014 for 83 days at $1,880,000 and in 2016 for $2,080,000 didn’t sell. Let’s see how the current market temperature is this time.

405 29th St Listed at $2,899,000 4 bed/3 bath/2 (pwds)

This single family home was built in 2001 and is located 4 blocks to the beach. This home last sold in 2010 for $2,075,000. Not very many homes come up in this pocket of north Hermosa Beach.

736 Gould #22 Listed for $985,000 2 bed/2 bath

736 Gould is located in a 33-unit complex located on the southwest corner of Gould and Sepulveda.
This unit last sold in 2012 for $716,000. Below are the last 2 years of sales in this complex:

1136 10th Listed for $1,479,000 3 bed/2.5 bath

This is a single family home locate on the east side of Prospect, just west of Redondo. It last sold in 2000 for $525K

IN ESROW
437 2nd Listed for $1,225,000 4 bed/3 bath

After 27 days, this one has a buyer. The Pacific Villas Complex is located on the west side of the greenbelt, on Ardmore and 2nd. The complex has 64 townhomes. This attached townhome last sold in 1991 for $320K. We sold 245 Valley in this complex last year with multiple offers…for over the asking price. Below are some other recent sales. Together they average of 44 days on market.

17 3rd Listed for $4,798,000 5 bed/5.5 bath

After almost 4 months, a buyer has arrived. This single family home is located on walkstreet, one home in from the strand. It has big ocean and sand views…and a huge rooftop deck. This property sold 10 years ago for $3.9M.

SOLD/CLOSED
1600 Ardmore #202 Sold for $550,000 1 bed/1 bath

This unit sold for $51K above asking price…in 2 weeks. It is part of a popular 100-unit complex location here in Hermosa Beach. The property last sold in 2013 for $315K. Unit #203, which is a 1 bed, 1 bath unit, sold last November for $616K.

1129 2nd Sold for $1,400,000 3 bed/3.5 bath

After almost 3 months and a $160K price reduction, this home has sold. This property first hit the market in September 2016 for $1,599,0000 and was taken off the market during the holiday season. It is a single family (tall skinny) home, located east of PCH and close to Prospect. It last sold in 1985 for $135K.

15 15th #12 Sold for $1,050,000 2 bed/2 bath

This home sold in 2 weeks for $55K (a big number) above the listing price. This is a 27-unit complex located one property from the strand and sand. This condo was purchased in 2014 for $750K. Unit #14 sold last year for $860K.

1216 2nd Sold for $1,150,000 3 bed/2 bath

Sold in 3 weeks for $65K above list price! This single family home is located in the Hermosa Hill section (east of PCH) and last sold for $905K in 2004. It’s an older style tall & skinny located on a 2273 sq. foot lot.

6 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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