Hermosa Beach Real Estate – Market Trends

Hermosa Beach had a really solid July with 27 closed sales during the month which is a very big number for a very small town.  That’s almost double the norm and compared with the 13, 10 and 18 home sales over the previous 3 months you can get an idea as to how busy it was.  What’s equally impressive was the 28 homes that went into escrow during the month as well meaning August should be equally impressive.  Click here to view the homes that sold in Hermosa Beach during July 2020.

View the current homes for sale in Hermosa Beach

 

May 2020 Real Estate Update – Hermosa Beach House Sales and Home Prices

Hermosa Beach Real Estate Market Update - May 2020

May was a slower but steady month for real estate in Hermosa Beach with 10 on market home sales.  While the number of home sales was slower the rest of the numbers were impressive.  The median list price was $2,049,500 with the median price of the homes that sold was $1,925,000.  The average price per foot was over $1000 a foot at $1085.97.  Average days on market was 27 and the median number of days on market for sold homes was a fairly amazing 6.

May 2020 Home Sales and house prices in Hermosa Beach

 

MLS#
Type
 Address
Price
$ Per Foot
Bed/Bath
Sq Feet
Year
Sold Date
SB20030796
CONDO/A
7272nd ST   #101
$430,000
$1,048.78
0/0,0,1,0
410/A
2007/ASR
5/11/2020
SB20091970
SFR/D
1515Monterey BLVD  
$1,340,000
$1,509.01
2/1,0,0,0
888/A
1930/ASR
5/15/2020
SB20027671
SFR/D
2818Hermosa AVE  
$4,400,000
$1,274.99
4/3,0,1,0
3451/A
1982/ASR
5/11/2020
SB20050633
SFR/D
1601Manhattan AVE  
$4,975,000
$1,421.43
4/4,0,1,0
3500/B
2020/BLD
5/5/2020
SB20082220
SFR/D
12530th ST  
$5,800,000
$1,767.22
4/4,0,1,0
3282/D
2020/BLD
5/8/2020
SB20071504
CONDO/A
1720Ardmore AVE   #325
$645,000
$833.33
1/1,0,0,0
774/A
1970/ASR
5/6/2020
SB20016364
TWNHS/D
619Longfellow Ave   
$2,950,000
$931.48
4/3,0,1,0
3167/B
2020/BLD
5/18/2020
20568958
SFR
124619TH ST  
$1,685,000
$840.40
3/2,0,1,0
2005/A
1986
5/13/2020
20558026
SFR
1326OWOSSO AVE  
$1,750,000
$668.19
4/3,0,0,0
2619/D
1986
5/8/2020
SB20015596
SFR/D
12769th ST  
$2,100,000
$564.82
4/3,0,1,0
3718/A
2013/ASR
5/6/2020

May 2020 is a Neutral market*

Home For Sale in May 2020: 56 units.

Up 3.7% compared to last month
0% compared to last year


Home Closed in May 2020: 10 units.

Down 23.1% compared to last month
Down 16.7% compared to last year


Home Placed under Contract in May 2020: 27 units.

Up 350% compared to last month
Up 50% compared to last year


*Buyer’s market: more than 6 months of inventory based on closed sales
 Seller’s market: less than 3 months of inventory based on closed sales
 Neutral market: 3 – 6 months of inventory based on closed sales

Pending Sales in Hermosa WERE on the Rise and then……..

We were seeing a really nice increase in homes going under contract in Hermosa Beach which was a great sign.  Inventory has been tight and it was great to see the inventory and pending sales on the rise.  It went from 9 in December, to 15 in January, to 18 in February…..then we started to see the impacts of the shutdown.  Only 12 pending sales in March and as of today, 4/11  there are only 11.  Let’s hope that things turn around quickly when the world starts working again.

View the current homes for sale in Hermosa Beach

Hermosa Beach Real Estate

Active Listings (light green), Pending sales (red line) and closed escrows (dark green)

March 2020 Hermosa Beach Home Sales and Home Prices

March was a busy month for home sales in the coastal community of Hermosa Beach. There were 20 on market home sales which is a very strong number for this small town. Median list price was $1,622,000 with the median sold price at $1,637,500 indicating a VERY strong sellers market. That may change with the current Corona virus impact but that’s yet to be seen. The average price per foot was a very high $1112 and average days on market was 84.

Those prices were all heavily impacted by an oceanfront home sale at 1534 The Strand which was listed just under $10,000,000 and closed for $8,700,000.

 

March 2020 Hermosa Beach Home Sales

Type AddressPrice$ Per FootBed/BathSq FeetYear BuiltSold Date
CONDO/A447Herondo ST   #106$870,000$622.322/1,1,0,01398/A1978/ASR3/24/2020
TWNHS/A501Herondo ST   #9$950,000$660.182/2,0,1,01439/A1987/ASR3/6/2020
SFR/D856Cypress AVE  $1,399,000$1,568.393/1,0,0,0892/AP1955/ASR3/17/2020
TWNHS/A447Manhattan AVE  $1,725,000$899.372/2,1,0,01918/A2010/ASR3/17/2020
SFR/D33726th ST  $2,500,000$1,594.393/2,0,0,01568/A1943/ASR3/6/2020
TWNHS/D50425th ST  $2,825,000$1,027.274/3,0,1,02750/A2015/PUB3/7/2020
TWNHS/A1705Manhattan AVE  $4,000,000$1,012.404/4,0,2,03951/B2019/BLD3/9/2020
SFR31526TH ST  $5,525,000$1,330.684/6,0,0,04152/OTH20193/19/2020
SFR1534The Strand   $8,700,000$3,097.194/1,4,0,02809/E 3/10/2020
CONDO/A1707Pacific Coast Hwy    #408$565,000$782.551/1,0,0,0722/A1972/ASR3/26/2020
CONDO/A1600Ardmore AVE   #334$569,000$937.401/1,0,0,0607/A1970/PUB3/13/2020
CONDO/A1600Ardmore AVE   #416$599,000$843.662/1,0,0,0710/A1970/ASR3/4/2020
TWNHS/D7082nd ST  $2,189,000$872.114/2,1,1,02510/A2015/ASR3/17/2020
SFR/D669Longfellow AVE  $3,135,000$1,043.964/4,0,1,03003/A2017/ASR3/11/2020
SFR/D120120th PL  $1,095,000$1,207.282/1,0,0,0907/A1956/ASR3/24/2020
SFR/D121120th ST  $1,230,000$946.153/2,0,0,01300/OTH1949/ASR3/13/2020
SFR/D11162nd ST  $1,295,000$1,234.513/1,0,1,01049/A1958/ASR3/27/2020
SFR/D11569th ST  $1,550,000$973.013/1,1,1,01593/A1954/ASR3/17/2020
SFR/D1401Corona ST  $2,645,000$859.054/3,0,2,03079/B2020/BLD3/15/2020
SFR/D1517Golden AVE  $2,705,000$738.065/2,2,0,03665/B2019/BLD3/3/2020

7 Beachfront Homes on The Market…..Wow!

It wasn’t all that long ago that a single beachfront home for sale on The Strand in Hermosa Beach was pretty rare. Oh how things have changed with 7 homes and properties currently for sale.  Combine that with another 5 homes for sale on the Manhattan Beach Strand and that’s a very high percentage of the total number of beachfront homes.

Current Homes for Sale in Hermosa Beach CA