Hermosa Beach saw another standout month in December of 2017 with a median home price of just over $2,000,000. This was a significant jump over the median price in the December a year ealier of $1,440,000 but as Hermosa Beach is such a small town it’s not unusual to see big jumps or drops in an individual month. There were 15 homes sold during the month which is slightly lower than normal but not unusal for December which is traditionally a slow month. Click here to see the current homes for sale in Hermosa Beach or view our recent home sales in Hermosa Beach
The area east of PCH in Hermosa Beach is generally the least expensive neighborhood in this small coastal community due to the fact that it’s the furthest from the beach. Homes vary in prices with most new construction for single family homes coming on the market in the lower $2.0Ms to the low $3.0Ms for a home on an oversized lot. The recent listing at 826 18th in the Hermosa hills certainly blows that average price range away. Recently listed at $4.2M this much larger than normal home sits on an healthy 5,500 foot lot with some very nice ocean views. It is relatively close to PCH and it will certainly be an interesting one to watch as the current price would exceed anything that has sold in the past. Click here for more information and photos of 826 18th Street, Hermosa Beach home for sale.
The December numbers are in and if there was any thought that the real estate market in Hermosa Beach was slowing or even leveling the numbers certainly say otherwise.
The average home price in Hermosa Beach for the homes that closed escrow during December was $1,771,899 with a median price of $1,575,000*. That’s are fairly incredible numbers that still shows no sign of slowing or reversing. The reasons are the continued demand with a limited supply of new listings, combined with some new construction and premium locations. The numbers would have been significantly higher but there were a greater number of condo sales than usual. See the chart below for the December home sales numbers for Hermosa Beach and the South Bay for December of 2015.
*Information above only reflects homes listed and sold on the MLS and does not include off market sales.
506 25th Street – Sold at $2,265,000 – While this new construction from KKC didn’t sell at the list price of just under $2.4M this is a huge number for a townhome on the back side of the hill (or sand dune). It was a beautiful 2700 foot 4 bed, 3 1/2 bath detached townhome with high end finishes, but this is a huge number given that there were four homes all with very similar finishes and appearance. That’s a big number to pay given the situation but all 4 units have sold relatively quickly.
444 Hermosa Ave #102 – Sold at $1,475,000 – This is a smaller 6 unit building in a fantastic location just a 1/2 block to the beach but $1.5M for a condo is another milestone price. As it’s a 1st floor unit it has little to no ocean/beach views. The appeal to the units in this building is that they’re a great size at over 1700 feet, with 3 bedroom and it’s all on the same level. All of the units we’ve seen in this building have been great and this one was no exception as it was completely turnkey, but nearing $1.5 for a condo is fairly incredible.
1517 Hermosa Ave – Sold at $3,730,000 – If this isn’t an indication of just how valuable walkstreet properties have become, we don’t know what is. 1517 Hermosa is a detached townhome on the corner of the walkstreet on 16th Street and Hermosa Ave. Although it’s on the beach side of the street this is still an incredible number for the combination of townhome and fairly busy street. It was a beautiful home and very well done, but still a pretty clear indication that we’re at an all time high in the sand section.
It’s unusual that in a market in which the inventory remains so low and buyers will scratch and claw for just about any properties in the Sand Section, that the inventory of oceanfront homes remains very high. The obvious explanation is that most buyers are priced out of homes now starting in the $7.0M range, but this is a town of seemingly endless wealth. What really is driving this is the combination of the exclusivity of being able to buy an oceanfront home and the pace at which home prices along this rare stretch of beach have risen. Of the homes currently on the market (not including the condo hotel of the Beach House)and sold in the past 18 months the average sale price is almost $10.5M.
In the world of cookie cutter homes often times the right location and a larger than normal lot can go a long way. The home at 2222 Monterey is one of those special and unique homes not often found in this charming coastal community. Designed by renowned architect Michael Lee, the home takes full advantage of the beach lifestyle with a beautifully landscaped front yard, nearly 4800 square feet of living space, covered entryway and stylish Cape Cod inspired design. It’s an entertainers dream with an open layout with the spectacular kitchen the centerpiece of the entertaining areas. The backyard has a pleasant courtyard area, built-in outdoor fireplace, separate guest quarters and an ocean view roof top deck.
If you’re also interested in Manhattan Beach homes and real estate, you just may want to visit Manhattan Beach Luxury Real Estate as it’s an ideal resource for homes and information. View the latest homes for sale, see recent home sales, find out about the award winning school district and get a better understanding of the areas and neighborhoods including the sand section, the tree section, the hill section, east Manhattan Beach and the only gated community in the area, Manhattan Village. Contact some of the top realtors in Manhattan Beach as well as top brokerages. Visit our site to find out what makes the city of Manhattan Beach such a highly sought after place to call home.
March saw a healthy number of home sales in Hermosa Beach and an ever climbing median home price. The month of March 2015 saw 20 closed home sales in this small coastal community with a median home price of over $1,300,000. The lowest priced home was a 1 bedroom in the Victorian, a condo complex of of Prospect. The highest price home sale was an oceanfront piece of property at 2721 The Strand at $11,810,000. The home sits on an oversized lot in a fairly ideal location in the north sand section. Visit our South Bay home sales site to see other months and other cities. Visit our MLS link to see the current homes for sale in Hermosa Beach, CA.
There are indicators of the overall real estate market and then there are homes that seem to reflect the market conditions all by themselves. 2840 Hermosa Ave in the sand section of Hermosa Beach is certainly one of those homes and at it’s current listing price is certainly raising the stakes once again. It seems that the home is on the market just about every year and the most recent jump in value may just say it all about how much demand there is for sand section ocean view homes. The home was built in 2002/2003 and since then has been on the market 12 times, sold 5 times and is now back as a new listing. If the frequency of the listings isn’t an eye opener the latest price jump certainly is. It originally sold for $2,204,000 in 2003 and then sold several times between 2005 and 2013 for prices in the low to mid $3.0Ms. The most recent sale closed in October of 2013 for $3,600,000. The latest listing, currently on the market, recently came out at $5,100,000….a price that not too many years ago was ocean front and of more recent times the only $5.0+ sales were new construction. We’ll see what the home eventually sells for but anything over $5.0M will be quite the indication that the market and values have exceeded just about anyone’s expectations.