July 2017 Median Hermosa Beach home prices up almost $600,000 from the prior year

July was a crazy month throughout the South Bay with double digit year over year percentage changes in most of the cities. There was no real rhyme or reason to it with some cities way up and others way down. Hermosa Beach real estate may have been the most dramatic of all the monthly changes with just under a 44% increase from July of 2016.  Median home prices were just over $2,000,000 for the month which was over $600,000 more than a year earlier!

City Homes Sold July 2017 Median July 2016 Median Year over Year % Change%
Carson 60 $480,000 $445,000 8%
El Segundo 20 $1,055,000 $1,310,000 -19.5%
Gardena 65 $549,000 $454,000 21%
Harbor City 15 $439,000 $550,000 -20.2%
Hawthorne 35 $730,000 $562,000 30%
Hermosa Beach 19 $2,025,000 $1,410,000 43.6%
Lawndale 15 $515,000 $430,000 19.8%
Lomita 21 $598,000 $585,000 2.1%
Long Beach 331 $520,000 $471,500 10.3%
Manhattan Beach 48 $2,449,000 $2,200,000 11.3%
Marina Del Rey 36 $921,000 $974,000 -5.4%
Palos Verdes Estates 28 $1558,000 $1,800,000 -13.4%
Playa Del Rey 20 $613,000 $629,000 -2.5%
Rancho Palos Verdes 63 $1,345,000 $1,160,000 15.9%
Redondo Beach 95 $975,000 $920,000 6%
San Pedro 63 $542,000 $542,000 0%
Torrance 113 $687,000 $617,000 11.4%
Westchester 33 $1,185,000 $1,116,000 6.2%

Hermosa Beach Sees Drop in Median Home Prices for May of 2016

Hermosa Beach saw a year over year price decrease in May with 21 homes sold this month at a median price of around $1,285,000 down from $1,450,000 the prior May.  As Hermosa Beach is such a small real estate market the year over year changes often don’t mean too much as single listings can sometimes impact the overall values considerable.  Click here to see the homes sold in Hermosa Beach for May of 2016.

City Homes
Sold
May
2016 Median
May
2015 Median
Year
over Year % Change%
Carson 57 $453,000 $410,000 10.4%
El Segundo 12 $802,500 $803,500 -.1%
Gardena 47 $425,000 $405,000 4.9%
Harbor City 26 $439,000 $415,000 5.8%
Hawthorne 39 $485,000 $525,000 -7.7%
Hermosa Beach 21 $1,285,000 $1,450,000 -11.4%
Lawndale 14 $455,000 $431,000 5.6%
Lomita 15 $488,000 $509,000 -4.1%
Long Beach 349 $485,000 $433,000 11.9%
Manhattan Beach 48 $1,875,000 $2,239,000 -16.2%
Marina Del Rey 31 $925,000 $918,000 .8%
Palos Verdes Estates 55 $1,499,000 $1,515,000 -1.1%
Playa Del Rey 24 $560,000 $615,000 -8.9%
Rancho Palos Verdes 58 $1,060,000 $1,100,000 -3.6%
Redondo Beach 96 $950,000 $845,000 12.5%
San Pedro 66 $489,000 $449,000 8.8%
Torrance 138 $593,000 $579,000 2.4%
Westchester 30 $1,130,000 $900,000 25.6%

Of Precious Metals and Little Houses in Hermosa Beach

By Keith Kyle1514 Silver Street Hermsa Beach

As of 3/29 two new listings hit the market in Hermosa Beach and both were unique but strangely similar.  It’s not every day that you see single family homes with less than 700 feet (we’ve only ever seen a few in a town where mcmansions seem to be more common all of the time) and today there were two.  It’s even less common to see these homes on Silver and Golden Streets….perhaps 2 of the less known streets in all of Hermosa Beach.

1514_SilverThe home at 1514 Silver comes in at 576 square feet but sits on a fairly good size 2,986 foot lot.  There’s really no question that they’re going for lot value here as regardless of how cute it it….$1,649 a square foot is a pretty tall order.  It’s a cute bungalow on a nice lot but this tiny charmer isn’t destined to remain and will eventually be something far larger and newer.

1517_Golden_Ave

The home at 1517 Golden is slightly cheaper per square foot at $1,566 but with 699 square feet and a list price of almost $1.1M they’re certainly banking on potential ocean views on a new build and shopping this to developers

 

The Online Presence of Sotheby’s International Real Estate Expands

By Keith Kyle

Something that’s a great benefit to my Hermosa Beach home sellers, is both the global reach of my company, especially in terms of reaching those buyers where most are these days….online.  Sotheby’s International continues to expand it’s online presence in the global real estate market as these latest numbers indicate.  The numbers below are pretty amazing and just one of the reasons we can offer so much more than other Hermosa Beach and South Bay brokerages.

sotheby-s-international-realty

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December Home Sales in Hermosa Beach

By Keith Kyle315_26th_St_front4 copy

December saw some significent home sales in Hermosa Beach, especially in the sand section. With prices at an all time high the new normal for values is fairly incredible.  Below is a list of all of the homes that closed escrow in December 2015 which was far from the slow month people often think the holidays create.  See the home sales for other South Bay cities including Manhattan Beach, Redondo Beach, Torrance and more.

Click here to view the current homes for sale in Hermosa Beach.  Please feel free to contact us for information on any of the sold home or current listings.

Type   Address  Price  Beds/Baths Year Built Square Feet
CONDO/A 1300 The Strand #127  $              525,000 1/1,0,0,0 2001/ASR 440/A
SFR/D 435 8th ST  $              777,777 1/1,0,0,0 1923/ASR 480/A
CONDO/A 444 Hermosa AV 102 #102  $          1,475,000 3/1,2,0,0 1988/ASR 1781/A
TWNHS/A 159 Monterey BL #A  $          1,500,000 3/3,0,0,0 1979/ASR 1974/S
SFR/D 242 Longfellow AV  $          1,575,000 2/2,0,0,0 1933/ASR 1056/A
TWNHS/D 506 25th  $          2,265,000 4/3,0,1,0 2015/BLD 2710/B
TWNHS/A 1501 Monterey  $          2,300,000 4/3,0,1,0 2015/EST 2000/AP
SFR/D 244 Longfellow AV  $          2,400,000 6/3,0,0,0 1953/ASR 1969/A
SFR/D 701 Loma DR  $          2,525,000 4/3,1,0,0 2004/ASR 2730/A
SFR/D 70 10th ST  $          2,960,000 3/1,1,0,0 1910/ASR 1512/A
TWNHS/D 1517 Hermosa AV  $          3,730,000 4/1,2,1,0 2015/BLD 2684/B
SFR/D 801 Hermosa AV  $          4,015,000 4/5,0,2,0 2015/APP 4003/A
CONDO/A 1600 Ardmore AV #327  $              580,000 2/2,0,0,0 1970/ASR 980/A
SFR/D 2524 Ardmore AV  $          1,297,000 2/1,0,0,0 1951/ASR 940/A
SFR/D 1920 Springfield AV  $          2,175,000 5/3,0,1,0 2009/SLR 3277/S
CONDO/A 2411 Prospect AV #107  $              410,000 2/1,1,0,0 1972/ASR 866/A
CONDO/A 2411 Prospect AV #125  $              525,100 2/1,1,0,0 1972/ASR 919/A
SFR/D 824 17th ST  $          1,500,000 3/2,1,0,0 2001/ASR 2683/A
TWNHS/A 1111 17th ST  $          2,100,000 4/3,0,1,0 2015/BLD 2700/B
SFR/D 1286 Bonnie Brae  $          2,150,000 5/4,0,0,0 2008/ASR 3666/A

647 24th Place To Be a Good Market Indicator for Flipped Homes

By Keith Kyle,24th street hermosa beach

There is no question that the luxury flipped home market has slowed considerably in the past 6 months.  With “fixers” being listed and sold at fairly unbelievable prices, the opportunities just are not often there for flippers.  The most recent rehab properties to come out are generally fixer homes purchased at the beginning of the year or sooner.  The recent flip at 647 24th Place in Hermosa Beach should be a good litmus test whether the market is still there for recently flipped homes.

Unlike most flips, with the focus being almost exclusively on the easy cosmetic upgrades, the home at 24th Place did some major work, and the results were fantastic.  When we first saw this home back in November of 2014  it hit the market at $1,079,000.  It sold quickly at $1,300,000.  The home had great views, a good sized yard, and a nice location west of PCH, but boy did it require some imagination.  Imagination they had….

The home has been reinvented and layout completely reconfigured.  When we first saw the home the kitchen, living room and family room were on the first floor, while all of the bedrooms were on the second floor.  This redesign went well beyond the norm and completely flipped (pun intended) the layout with the bedrooms now downstairs and living areas upstairs.  What that’s done is to allow the more frequently used areas to have the best views in the house.  In addition they extended the front living room ceiling and added an entirely new row of windows allowing for a much larger sense of space, great light, and spectacular views.  The home is currently listed for $2,200,000 which is a very big number for a home this size in this neighborhood, but with the impressive new layout, high end finishes, and so little on the market….it just may be close.  Click here to see details and photos of the home at 647 24th Street in Hermosa Beach.

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Strong Home Sales in Hermosa Beach for April 2015

By Keith KyleSunset Strand reflections

Hermosa Beach at just over a square mile, doesn’t have the area to have numbers rivaling nearby Manhattan Beach and Redondo Beach.  But what it lacks in the number of homes for sale, it certainly makes up for in value.  The market has continued to sky rocket in this small coastal community.  The month of April saw a huge number of sales with 30 homes selling with an average home price of over $2,000,000.  The number was skewed considerably by the biggest sale of the month, the oceanfront home of 1942 The Strand.  While the home was a tear down it sat on a double lot that had both oceanfront and walkstreet frontage.  The intention appears to be to build two homes with the builder keeping one for themselves and selling the corner home.  The lowest price of the month was at $372,000 for a one bedroom condo in the Victorian which is generally the least expensive building in the city.  To see the current homes for sale in Hermosa Beach visit our updated Hermosa Beach homes for sale section.

MLS TYPE   ADDRESS  PRICE  BED/BATH AGE SQ
Ft
DOM
SB15025638 CONDO/A 1600 Ardmore AV #410  $ 775,000 2/2,0,0,0 1970/SLR 1071/A 61/145
SB15062421 TWNHS/A 1113 Valley DR  $ 1,080,000 2/2,0,1,0 1989/ASR 2058/A 28/218
SB15063198 CONDO/A 446 Monterey BL #3F  $ 1,104,000 3/1,1,0,0 1987/ASR 1331/A 27/27
SB15063532 SFR/D 207 16th ST  $ 1,750,000 2/2,0,0,0 1924/ASR 1415/A 16/16
SB15031078 TWNHS/A 819 Monterey BL  $ 1,799,000 3/2,0,1,0 2001/ASR 1829/A 26146
SB15053133 SFR/D 3225 Highland AV  $ 2,405,000 3/2,0,0,0 1961/ASR 1400 32/57
SB15055653 SFR/D 2030 Loma DR  $ 2,430,000 4/3,0,1,0 1992/ASR 3400/A 0/45
SB15004192 SFR/A 47 6th ST  $ 2,600,000 3/1,1,0,0 1948/APP 1163/T 83/83
15881051 SFR/D 2324 HERMOSA AV  $ 3,000,000 2/1,0,0,0 1912 802/A 18/18
SB15057170 SFR/D 2824 Hermosa AV  $  3,400,000 2/2,0,0,0 1939/ASR 1042/A 26/26
SB15072124 SFR/D 2232 Hermosa AV  $ 3,750,000 4/4,0,1,0 2005/ASR 3792/A 31413
SB14232129 SFR/D 123 29th ST  $ 4,085,000 5/5,0,0,0 2003/ASR 3668/A 151/151
SB14166431 SFR/D 3224 Hermosa AV  $ 6,425,000 2/1,1,0,0 1937/ASR 2800/S 238/238
SB14257472 SFR/D 1942 The Strand  $ 15,000,000 6/2,0,0,0 1913/ASR 3436/A 63/101
SB15051972 CONDO/A 1707 Pacific Coast Hwy #304  $ 575,000 2/1,1,0,0 1972/ASR 979 31/31
SB14226429 TWNHS/A 705 4th ST #C  $ 799,000 2/2,0,1,0 1978/ASR 1600/AP 61/81
SB15035783 TWNHS/A 709 3rd ST  $ 855,000 2/2,0,0,0 1985/ASR 1310/A 42098
OC15026228 CONDO/A 601 1st ST #7  $ 925,000 3/3,0,0,0 1990/EST 1529/A 49/49
SB15052582 CONDO/A 736 Gould AV #8  $ 1,255,000 3/2,0,1,0 1981/ASR 1833/A 42224
SB15080888 SFR/D 641 8th ST  $ 1,359,000 4/2,1,0,0 2002/SEE 2300/A 90/90
SB15031189 SFR/D 732 24th ST  $ 1,450,000 3/2,0,1,0 1987/APP 2151/A 26512
SB15026161 CONDO/A 2411 Prospect AV #215  $ 372,000 1/1,0,0,0 1972/ASR 627/A 55/55
SB15022060 CONDO/A 2411 Prospect AV #307  $ 479,000 2/1,1,0,0 1972/ASR 915/A 37/37
15886281 CONDO 831 6TH ST #2  $ 638,250 2/1,0,1,0 1983 1011/A 27/27
215003198 SFR 909 3rd ST  $ 750,000 1/1,0,0,0 1924 504/A 77/77
SB15043016 SFR/D 1738 Pacific Coast  $ 949,000 2/1,0,0,0 1948/EST 924/A 29/29
OC15052447 SFR/D 1143 7th PL  $ 965,000 3/2,0,0,0 1959/ASR 1159/A 46/46
PV15024381 SFR/D 620 Prospect AV  $ 1,515,000 3/2,0,1,0 1987/ASR 3089/A 35/234
SB15035302 SFR/D 1250 7th ST  $ 1,525,000 3/2,0,1,0 1954/ASR 1567/A 33/33
PV15043620 SFR/D 918 9th ST  $ 1,551,000 3/2,0,0,0 1952/ASR 2148/A 35/53

Hermosa Beach Needs Some New Housing Inventory

By Keith KyleHermosa Beach Walkstreet Beach Bungalow

The Hermosa Beach real estate market continues to be driven by the lack of homes on the market and the continued high demand for this charming coastal town.  With only 1.4 sq miles in the city, there is never an abundance of homes for sale, but recently there has been almost nothing to purchase.  Inventory has been extremely low for almost 2 years and it doesn’t appear that there’s any quick turnaround in the near future which continues to increase the demand for just about every type of home and in all three “sections” of the city.  The market has also been impacted by the extensive building boom going on making it even more challenging for owner/users.  This has meant that homes usually bought as “starter” homes are being swept up by builders willing and able to pay all cash and a quickly close.  We will likely see no real improvement in inventory for the rest of 2014 or beginning of 2015 but hopefully the period of late January, when the market picks up, will lead to an increased number of home sellers realizing just what a good market it is and will finally see the start of a return to a balanced market.