December Home Sale Prices In Hermosa Beach Continue to Rise

By Keith Kyle506 25th Street Hermosa Beach

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.

City Homes
Sold
December
2015 Median
December
2014 Median
Year
over Year % Change
Carson  73 $360,000 $365,000 -1.4%
El Segundo 10 $949,000 $735,000 20.2
Gardena 41 $420,000 $385,000 9.1%
Harbor City 15 $483,000 $467,000 9.1%
Hawthorne 35 $508,500 $667,750 -23.8%
Hermosa Beach 21 $1,575,000 $1,360,000 15%
Lawndale 13 $420,000 $415,000 1.2%
Lomita 16 $520,000 $490,000 6.1%
Long Beach 339 $456,000 $395,000 15.4%
Manhattan Beach 34 $2,184,000 $1,689,000 29.3%
Marina Del Rey 31 $905,000 $759,000 19.2%
Palos Verdes Estates 29 $1,456,000 $1,150,000 26.7%
Playa Del Rey 17 $605,000 $482,000 25.5%
Rancho Palos Verdes 48 $1,170,000 $1,135,000 3.1%
Redondo Beach 89 $826,250 $770,000 7.3%
San Pedro 72 $517,500 $492,000 5.2%
Torrance 133 $597,000 $562,000 6.3%
Westchester 34 $951,000 $807,500 17.8%

Yards Becoming a Rarity in Hermosa Beach Real Estate

As builders buy just about every beach bungalow and build the very largest homes the city will allow, one thing that seems to be on the Hermosa Beach homes with yardsendangered list is the backyard (or front yard for that matter). Most lots in Hermosa Beach were never huge, usually ranging between 2100 and 4000 feet, but the original homes on those lots were generally one story bungalows with either larger backyards or detached garages with a smaller yard.  Due to city building regulations that allowed builders to consider balconies and, more importantly, roof decks, as open space, yards of any significant size were basically no longer required.  Developers took full advantage of this rather builder friendly ruling and homes became larger and larger and pushed to every possible inch of the property.  What used to be yard is now part of the home and with only 10% setbacks on sideyards homes on 30 foot wide lots (which is very common) only have 3 feet to the property line, or 6 feet from the neighbor.  Unfortunately this has taken it’s toll on the beach “charm” as homes nowdays are simply giant rectangular boxes that take push outward and upward to get maximum square footage.   Most of these homes are beautiful, especially the interiors, but unfortunately as more and more original bungalows are replaced the beach community charm is certainly lost in some ways.  When buyers have a “yard” on their need list it almost rules Hermosa Beach out which is certainly a bit sad.  Unfortunately there’s no stopping this “progress” but if you’re lucky enough to have a yard….you’re pretty lucky and in rare company.

New Construction Homes on the Rise in Hermosa Beach

By Keith KyleNew Homes in Hermosa Beach

It would seem you can’t look down any street in Hermosa Beach without seeing a new home at some stage of construction.  As prices have skyrocketed in the past 18 months builders have actively sought out any “fixers” or original bungalows to tear down and replace with a maximum sized luxury property in it’s place.  As with everything in real estate location is the primary target of builders but with such limited housing inventory builders seem to be interested in just about any location or lot at this point.

With the current lack of housing inventory and incredible demand in this small luxury coastal community, many of these homes sell prior to going on the market.   As of early summer 2014 home prices in the sand section for these new construction homes generally have started in the low $3.0M and high points have been $5.0M+.    Contact us for information on upcoming listings or to keep current on pocket, off market and upcoming home listings.

Receive new home listings in Hermosa Beach Daily!

New Listing Email Alerts

  • Tell Us About Your Search

 

Verification