What a month it was for real estate in the coastal community of Hermosa Beach. There were 22 property sales and the median home price was an impressive $2,209,000.
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.
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
$ Per Foot
|727||2nd ST #101|
|1720||Ardmore AVE #325|
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
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.
Hermosa Beach Real Estate
Active Listings (light green), Pending sales (red line) and closed escrows (dark green)
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 $8,700,000.
March 2020 Hermosa Beach Home Sales
|Type||Address||Price||$ Per Foot||Bed/Bath||Sq Feet||Year Built||Sold Date|
|CONDO/A||447||Herondo ST #106||$870,000||$622.32||2/1,1,0,0||1398/A||1978/ASR||3/24/2020|
|TWNHS/A||501||Herondo ST #9||$950,000||$660.18||2/2,0,1,0||1439/A||1987/ASR||3/6/2020|
|CONDO/A||1707||Pacific Coast Hwy #408||$565,000||$782.55||1/1,0,0,0||722/A||1972/ASR||3/26/2020|
|CONDO/A||1600||Ardmore AVE #334||$569,000||$937.40||1/1,0,0,0||607/A||1970/PUB||3/13/2020|
|CONDO/A||1600||Ardmore AVE #416||$599,000||$843.66||2/1,0,0,0||710/A||1970/ASR||3/4/2020|