Hermosa Beach Median Prices Again Top the $2.0M Mark!

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

City Homes Sold December 2017  Median December 2016  Median Year
over Year % Change%
Carson 47 $486,000 $451,000 7.8%
El Segundo 11 $966,000 $985,000 -2%
Gardena 65 $515,00 $465,000 10.8%
Harbor City 17 $572,000 $621,000 -7.9%
Hawthorne 30 $545,000 $555,000 -1.9%

Hermosa Beach

15

$2,003,000

$1,440,000

39.1%

Lawndale 12 $448,000 $510,000 -12.3%
Lomita 10 $595,000 $519,000 14.5%
Long Beach 284 $497,000 $465,000 6.9%
Manhattan Beach 36 $2,250,000 $1,790,000 25.7%
Marina Del Rey 31 $1,075,000 $841,000 27.9%
Palos Verdes Estates 27 $1,342,000 $1,599,000 -16.1%
Playa Del Rey 9 $612,000 $588,000 4.2%
Rancho Palos Verdes 58 $1,050,000 $1,170,000 -10.3%
Redondo Beach 78 $1,018,000 $987,000 3.1%
San Pedro 58 $485,000 $515,000 -5.8%
Torrance 111 $670,000 $650,000 3.1%
Westchester 38 $1,005,000 $985,000 2%

 

Hermosa Beach Home Sales and Home Prices for February 2016

By Keith Kyle1072_7th_St_view4 copy

The South Bay saw another strong month for home prices in February, although a few cities, including Hermosa Beach, saw big percentage drops in average home prices.  Those numbers, especially in Hermosa, don’t really mean much due to the very small number of homes sold each month, but taken over times gives a good indication as to what is happening in the local Hermosa Beach real estate market.

Hermosa Beach had a fairly typical month with 17 home sales, but median price dropped quite a bit from the year prior to $1.225M.  That’s roughly a 19% decrease but with so few homes selling it doesn’t indicate any type of trend at this point.

City Homes
Sold
February
2016 Median
February
2015 Median
Year
over Year % Change%
Carson 38 $420,000 $395,000 6.2%
El Segundo 11 $1,109,000 $815,000 36%
Gardena 38 $410,750 $334,000 23%
Harbor City 10 $527,500 $393,000 34.2%
Hawthorne 30 $483,000 $450,000 7.4%
Hermosa Beach 17 $1,225,000 $1,512,500 -19%
Lawndale 8 $431,000 $415,000 3.9%
Lomita 11 %505,000 $326,000 55%
Long Beach 238 $461,000 $409,000 12.7%
Manhattan Beach 22 $1,795,000 $2,361,000 -24%
Marina Del Rey 25 $864,000 $1,335,000 -35%
Palos Verdes Estates 33 $1,403,000 $1,300,000 7.9%
Playa Del Rey 10 $626,000 $710,750 6.9%
Rancho Palos Verdes 26 $1,110,000 $1,039,000 6.9%
Redondo Beach 45 $869,750 $812,000 7.1%
San Pedro 33 $505,000 $416,000 21.4%
Torrance 85 $565,000 $544,000 4%
Westchester 21 $917,000 $820,000 11.8%

551 3rd Street – How Hot Can this Market Get?

By Keith Kyle551 3rd Street Hermosa Beach

All indicators point towards this crazy market remaining crazy.  It’s great for sellers and pretty awful for buyers….or more correctly in most cases….those wishing that they were buyers.

The recent sale at 551 3rd in Hermosa Beach paints a pretty clear picture.  The home had multiple offers and sold a whopping $246,000 over asking price.  While the home was nice, it wasn’t spectaclar and while the location was west of Ardmore it was still east of Valley.  The response was incredible with the home selling immediately and well above the initial expected price.  View our sales page to see all of the homes recently sold in Hermosa Beach CA.

Status: Closed Sale
ML#:   SB15013926 
APN:   4188026005 
Orig. List Price:   $1,099,000 
Price Per Sqft:   $873.94 
County:   Los Angeles 
Property Type:   Single Family Residence (D) 
Bedrooms:   3 
Bath(F,T,H,Q):  2,0,0,0 
Sqft (Src):   1,539 (Assessor’s Data) 
LotSqft:   2,506