Sold last week…now the new buyer put it on the market for $300K more? Is the market that strong?…7 Day Market Update and Weekend Open House List- Hermosa Beach

UPDATE_HEADER
7/29/2016
9 New Listings (click to see)
2 In Escrow (click to see)
6 Closed Sales (click to see)

64 Active Listings in Hermosa Beach
SFR- 47
TWNHS- 10
CONDOS- 7

Actives by Hermosa Areas:
Sand Section: 39 Active listings
Valley Section: 10 Active listings
East Hermosa: 15 Active listings
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NEW ACTIVE
401 31st Listed for $3,499,999 4 bed/3.5 bath
401
This property just sold and closed last week for $3,200,000. Now it’s back up for sale
at $3,499,000. Strange….did the buyer his or her mind in a week?

703 1st Listed for $2,095,000 3 bed/ 2 bath
703
This detached townhome is located just west of PCH on the Hermosa/South Redondo border. It sold last year for $1,475,000 after 61 days on the market and in 2011 for $1,235,000 after 81 days. The current list price is a huge number for a 1991 built property. I’m watching this one.

330 Hollowell Listed for $1,640,000 4 bed/3.5 bath
330
This single family home is on the cornier of Prospect and Hollowell. This home last sold in 2012 for $1,060,000.

557 3rd Listed for $2,300,000 4 bed/3.5 bath
557
This home was build 2 years ago and the lot was purchased for $600K in 2012.
It’s a big number….however the finishes look very nice.

1807 Valley Park Listed for $9,995,000 6 bed/5.5 bath
1807
This is a rare find in Hermosa. The home is 6,528 sq ft and it sits on a 23,879 sq. foot lot. This home has a pool, water slide, zipline and a guesthouse. It’s situated west of Valley, a few blocks from the beach. This property last sold in 2006 for $5,350,000. I will be watching this one. It’s seems like a big #, however it’s not uncommon to see these types of numbers a ¼ mile to the north in the Manhattan Hill section, with lots that are ½ the size.

701 Longfellow Listed for $3,200,000 2 bed/1 bath
701
This is a small home on a big lot that is perfect for building either one or two dream homes. It is located just west of PCH and north of Gould.

447 Herondo #105 Listed for $899,000 2 bed/2 bath
447
This is a 30-unit complex located on Herondo, which is the borderline for Hermosa and South Redondo. This year there have been 2 sales in this complex, (see below).
This property last sold in 2003 for $535,000.
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339 27th Listed for $3,699,000 5 bed/3.5 bath
339
This is a brand new single family home. This home last sold in 2012 for $830K. That would be an incredible profit if it sells anywhere near the asking price.

1707 PCH #324 Listed for $550,000 2 bed/2 bath
1707
This is a 73-unit condo complex located on the west side of PCH. The last
2-bedroom to sell in this complex sold for $659K in February, however that one was on the top floor with views. This unit last sold in 1976 for $37,500.

IN ESCROW
100 8th St Listed for $1,850,000 2 bed/3 bath
100
This attached townhome (1 of 3 units) is located a block from the beach. It last sold in 2005 for $1,399,000. We successfully sold the back unit as a short pay in 2011. Just on location alone, I’m not surprised this one found a buyer.

2411 Prospect #123 Listed for $439,000 1 bed/1 bath
2411
After a short 2 1/2 weeks on the market, this unit has a buyer. This 64-unit complex comes up on our updates every few weeks. There were 7 sales last year in this complex. This one was purchased to flip for $305,000 in May of this year. That’s a nice mark up.

CLOSED
401 31St Sold for $3,200,000 4 bed/3.5 bath
401
This one sold all cash for $5K over the asking price. It’s a brand new single family home on the northern edge of Hermosa. The top floor is filled with glass windows and has a really nice indoor/outdoor living feel. This home sold in 2009 for $800K prior to the build.

598 1st Sold for $1,410,000 3 bed/3.5 bath
598
This one sold quickly….16 days and only $10K off the asking price. It’s an attached townhome, built in 2007, on the Hermosa/Redondo Border, just north of Herondo St. and west of PCH.

123 Bayview Sold for $1,830,000 3 bed/3.5 bath
123
I’m not surprised at all that this one sold quickly and for over the asking price ($81K over). This is a detached townhome a block and a half to the beach. It just sold 3 years ago for $1.4M as a new construction.

850 1st St Sold for $750,000 2 bed/2 bath
850
After 6 weeks on the market, this one sold right at the asking price. This is a 14-unit townhome community located just east of PCH on the Hermosa/South Redondo border. This unit last sold in 1986 for $159K.

160 Hill St Sold for $1,701,000 3 bed/4 bath
160
That was quick….9 days and they have a new owner for $2K over the asking price. This one was last on the market in 2011 for $949K, and didn’t sell after 74 days. It last sold in 1985 for $105K.

1240 15th Sold for $1,300,000 5 bed/2.5 bath
1240
After a month and a $49K cut off the initial asking price…this single family home has a new owner. The property last sold in 1977 for $96K.

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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