By the Numbers – Hermosa Beach Real Estate Recap 2018

2018 was a big year for real estate in Hermosa Beach. Although prices are still not at Manhattan Beach levels they’re getting closer all of the time.  See all of the homes that sold in 2018 or see the current homes for sale in Hermosa Beach.

  • 188 total on market homes were sold
  • 89 Sand section homes sold at a median price of $2,215,000 with median days on market of 23
  • 46 valley section homes sold at a median price of $1,498,500 and a median days on market of 14
  • 53 hill section homes sold at a median price of $1,500,000 and a median days on market of 23

See the chart below for a month to month picture of the Hermosa housing market in 2018

Date Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
For Sale 44 42 51 53 57 62 64 64 59 60 50 45
New Listing 37 18 26 36 34 34 22 24 20 23 12 6
Sold 6 16 18 18 20 18 20 18 12 18 14 10
In Escrow 21 12 16 27 22 17 14 16 15 14 14 9
Months of Inventory (Closed Sales) 7.3 2.6 2.8 2.9 2.9 3.4 3.2 3.6 4.9 3.3 3.6 4.5
Months of Inventory (Pended Sales) 2.1 3.5 3.2 2 2.6 3.6 4.6 4 3.9 4.3 3.6 5
Absorption
Rate (Closed Sales) %
13.6 38.1 35.3 34 35.1 29 31.3 28.1 20.3 30 28 22.2
Absorption
Rate (Pended Sales) %
47.7 28.6 31.4 50.9 38.6 27.4 21.9 25 25.4 23.3 28 20
Avg. Active Price  $3,393,000  $3,598,000  $3,370,000  $3,550,000  $3,800,000  $3,851,000  $3,489,000  $3,569,000  $3,692,000  $3,495,000  $3,424,000  $2,871,000
Avg. Sold Price  $2,086,000  $1,674,000  $1,762,000  $2,571,000  $1,897,000  $2,540,000  $2,047,000  $2,311,000  $1,732,000  $2,301,000  $1,903,000  $3,056,000
Avg. Sq. Ft. Price (Sold) 1044 1017 829 1025 953 990 1054 1115 914 1130 979 1450
Sold/List
Diff. %
98 99 100 97 99 99 98 98 98 98 95 93
Sold/Orig
LP Diff. %
90 95 98 96 97 97 97 98 98 93 91 87
Avg Days on Market 31 51 43 70 34 34 32 23 37 45 59 87
Median
Sold Price
 $1,343,000  $1,473,000  $1,728,000  $1,745,000  $1,687,000  $1,863,000  $1,742,000  $1,975,000  $1,715,000  $1,550,000  $1,625,000  $1,906,000

When Sales Prices Go Crazy – 107 24th Street in Hermosa Beach

By Keith Kyle

In this market there are definitely homes that sell over list price……

And then there are HOMES THAT SELL WAY OVER LIST PRICE.

Located on the corner of 24th and Hermosa Ave and only a few hundred feet from the sand, this home was listed at $2,000,000.  Although the home was a fixer at best the location is highly sought after and coveted by builders for the size of the lot and the potential views and the proximity to the sand.  Unbelievably the home listed at $2,000,000 closed at $2,760,000!!107 24th Street HErmosa Beach

Status: Closed Sale
ML#:   SB14224663 
APN:   4182011001 
Orig. List Price:   $2,000,000 
Price Per Sqft:   $1,197.92 
County:   Los Angeles 
Property Type:   Single Family Residence (D) 
Bedrooms:   2 
Bath(F,T,H,Q):  1,1,0,0 
Sqft (Src):   2,304 (Assessor’s Data) 
Ac/LotSqft (Src):   0.055/2,403 (A) 

 

Hermosa Beach Real Estate Market Snapshot

Neither the weather nor the real estate market has cooled off much now that summer is over and there doesn’t appear to be any major shift in the market in the coming months.  Here’s what’s happening in Hermosa Beach….by the numbers.

  • Current listings – 23
  • Median home price – $1,875,000
  • Avg price per foot – $1,227
  • Average days on market – 94
  • Current listings – 7
  • Median home price -$1,229,000
  • Avg price per foot – $816
  • Average days on market – 151 (skewed by one home 555 DOM)
Pending Single Family
Pending Townhomes & Condos
  • Currently in escrow – 10
  • Median home price – $1,149,000
  • Avg price per foot – $1,011
  • Average days on market – 30
  • Currently in escrow – 13
  • Median home price -$1,239,000
  • Avg price per foot – $630
  • Average days on market – 41
Sold – SFR (since 9/1/14)
Sold TH/Condo (since 9/1/14)
  • Number of homes – 10
  • Median home price – $1,029,000*
  • Avg price per foot – $958
  • Average days on market – 75

*number of homes were sold for lot value which skews the numbers a bit

  • Currently in escrow – 9
  • Median home price -$1,170,000
  • Avg price per foot – $638
  • Average days on market – 75
Sand Section (all home types)
Hermosa Valley (all home types)
  • Active homes for sale – 18
  • Pending home sales – 10
  • Closed home sales – 6
  • Median active – $2,199,000
  • Median in escrow – $1,450,000
  • Median sold $1,500,000
  • Active homes for sale – 6
  • Pending home sales – 7
  • Closed home sales – 2
  • Median active – $1,599,000
  • Median in escrow – $899,000
  • Median sold – $1,535,500
East of PCH/Hill (all home types)
  • Active homes for sale – 8
  • Pending home sales – 6
  • Closed home sales – 11
  • Median actitve – $1,299,000
  • Median in escrow – $1,359,000
  • Median sold – $865,000