Slow Days in the Hermosa Beach Open House World

If you’re looking to visit some open houses in Hermosa Beach this weekend there just aren’t many to see.  Between the low inventory and the fact that homes are selling so quickly, some before they even hit the market, there’s just not much out there.  If you do have the urge to see some homes for sale in this beautiful coastal community here are a few places to visit.  To see Manhattan Beach and Redondo Beach houses visit our South Bay open house page.

Days Hours Address Details Price
Sat 2-4pm 1113 Monterey 2 BD, 2.5 BA, Panoramic Ocean Views $1,599,000
Sat 2-4pm 456 & 458 Ocean View Ave. 7 BD, 5 BA, 4,300 SF, Ocean Views $1,875,000
Sat/ Sun 2-4pm 2035 Prospect Ave. New Construction, Ocean View, 4 BD, 3.5 BA, Roof deck $1,999,000
Sat/ Sun 1-4pm 62 8th St. 3 BD, 4 BA $2,499,000
Sat/ Sun 1-4pm 531 Loma Dr. 4 BD, 3.5 BA, Views $2,699,000
Sat 1-4pm 2804 Hermosa Ave. 4 BD, 3.5 BA, 1 Blk. from Strand, Designer Perfect! $4,799,000

Only 5 Hermosa Beach Foreclosures in all of 2014

By Keith Kyle

If you’re looking for a foreclosure deal in Hermosa Beach it may be a while.  In all of 2014 only 5 “distressed” homes were sold  4 of the homes were short sales with the other being a  bank owned property.    In general the few short sales and foreclosures that did sell were good buys with the average price per square feet on the distressed sales was $585 while the average price per foot of normal sales (not including oceanfront properties) was $741.  2014 saw 206 on market homes sales in Hermosa Beach so the distressed market was a very minimal factor.  Currently there are no foreclosures on the market and the last listing was the home on 6th Street that closed in September.

Hermosa-Foreclosures

 

As prices have risen so dramatically over the past 24 months it’s unlikely we’ll see any distressed sales in the immediate future but as homes are now reaching record prices it may be a matter of time before some homes once again are underwater.  Please feel free to contact us for more information on the real estate market in Hermosa Beach or foreclosure opportunities in the neighboring communities.

Off Market Luxury Home For Sale at 340 Via Colusa in the Hollywood Riviera of Redondo Beach

Welcome home to the very best in coastal luxury in this charming Hollywood Riviera location.  From the moment you enter you’re 340 Via Colusasurrounded by luxurious touches from the beautiful double doors and formal entry to the custom light fixtures.    This gorgeous family home in the Hollywood Riviera was designed by local architect Louie Tomaro, one of the South Bay’s premier architect for luxury homes.   With spectacular curb appeal, you are greeted by a gated entry, and a massive front yard. Upon entry, the double doors leads to a beautiful foyer designed to welcome visitors with a sense of casual elegance, bathed in natural light.  The downstairs suite with private bath is perfect for guests or to use as a somewhat detached office.  Upstairs features 4 additional bedrooms each with it’s own private bathroom.  The master bedroom suite includes a walk-in closet, stunning master bath, and large French doors that offer direct access to the backyard. The gourmet kitchen includes stainless steel Kitchen Aid and Viking appliances, cherry wood cabinetry and opens to the dining room and family room for a casual, yet elegant feel.  The balcony off the family room lets you take in the city light views and cool ocean breezes. Kolbe & Kolbe windows and doors, and cherry hardwood floors lend an elegant touch throughout. Sitting on a large lot, this home also features a spacious and private side patio as well as a very sunny backyard and patio area.   The huge fenced-in front yard with remote control-ready arched gates give this residence an estate-like feel. Enjoy the close proximity to the beach, Riviera Village, Riviera Elementary and the Palos Verdes walking trail.  Contact listing agent and Redondo Beach luxury home specialist, Keith Kyle at 310-251-2344 or Keith@KeithKyleHomes.com for more information and to arrange a private showing.

  • Built in 2004
  • 5 Bedrooms, 5 ½ Baths
  • 2,560 Square Feet
  • 7543 Foot Lot

Via-Colusa-Kitchen  Via-Colusa-Sideyard-MLS  Colusa-MLSVia-Colusa-Kitchen-South-MLS  Via-Colusa-Backyard-MLS

 

October a Good Month for Hermosa Beach Home Sales

October was another strong month for Hermosa Beach home sales with 16 closed home sales with a median home price of $1,267,000. Of the 16 sales 5 sold above their list price, with the rest selling at either list price or fairly close.  With inventory remaining so low for this small coastal community, the demand has remained very strong with most homes selling quickly at near record prices.  See below for the home sales in the month of October.    Click here to see the current homes for sale in Hermosa Beach

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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 North Hermosa Home for Sale at 123 29th Street in the Sand Section

Just two homes from the beach, this beautiful home located at 123 29th Street in the North Hermosa Beach sand section offers the best of California coastal living. Custom built in 2003 this quality home is where urban beach living comes to life.  This corner lot home offers sweeping views from Malibu to Palos Verdes. Three levels of luxurious space with 5 bedrooms, 4 of which are on the same level, 5 bathrooms plus an ocean view office. The home has a large 3-car side by side garage, perfect for housing surfboards and beach gear plus extra parking for up to 2 cars behind.  Sitting in the quiet North Hermosa neighborhood this home is a great beach home and beautifully combines luxury with an informal coastal feel.  Bathed in natural light the home features open beamed ceilings, hardwood floors, beautiful kitchen perfect for entertaining and much more.  All of this in the wonderful beach community that is Hermosa Beach with a small town feel and nationally rated schools.  Contact us for more information.

See listing details for 123 29th Street in Hermosa Beach

Roof deck in Hermosa Beach Ocean views from 136 29th Street Hermosa 123 29th Street - Sand Section home for sale

True Beach Living at 63 18th Street in Hermosa Beach

By Keith Kyle

One of the best things about living in Hermosa Beach is….well….living at the beach.  Hermosa is a great beach town with a real sense of old time63 18th Street community.  One of the housing options fairly unique to Hermosa is the walkstreets.  There are not all that many and most of the walkstreets are either west of Hermosa Ave, meaning right on the beach, or the few in the north sand section just a few blocks back.

Nowhere is there better beach style living than the homes of the Hermosa Beach walkstreets with a combination of new construction mixed with fantastic original beach bungalows.  The new home listing at 63 18th Street happens to be one of those cool beach cottages that remind you casual summer days and the relaxed feeling of summer vacation.

The home actually consist of a 3 bed/2 bath main house and a 1/1 apartment over the garage.  The listing agent David Caskey describes it as:

“a classic two-story cottage style home, straight out of a coastal living magazine, w/3 bedrooms & 2 baths in the main house & a bonus 1 bedroom apartment/loft over the garage in the rear! A large front patio opens to the tree lined walk street that leads right to the beach, w/abundant space for outdoor dining & entertainment, while a courtyard lies between the units providing a patio for the rear unit or just a more private area to enjoy.”

View photos and details of 63 18th Street in Hermosa Beach

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

Will Increased Home Inventory in the South Bay Ease The Pressure?

What may be the beginning of a slight shift in the South Bay real estate market, inventory has continued to rise for the 5th straight month while both pending sales and sold homes remained relatively flat. Active homes for sale in July of 2014 were up 40% from the same month in 2013, while sold homes declined 11.7% and pending home sales only increased by 3.5%. This buildup of inventory may finally slow the market and lead to a market not so heavily favoring sellers.  The local Hermosa Beach real estate trends do not mirror the overall South Bay market with an actual decrease in active, pending and recent home sales.  Hermosa is a very unique market as the number of actual homes that exist are limited.  With only 1.4 square miles there is natural limitation on inventory and demand generally is always very high for this coastal community.

New Beachfront Home for sale at 2624 The Strand in Hermosa Beach

In this market any homes for sale can seem like a rarity, but beachfront homes are even more rare.  According to local real estate 2624-The-Strandspecialist Keith Kyle with South Bay Brokers, “There are a very limited number of beachfront lots in Hermosa, and that will never change.  These homes are very rare, but with the recent price increases in which we’ve seen new construction near the $15,000,000 there are definitely sellers testing the waters which makes for multiple opportunities for luxury buyers looking for that rare property”.

Recently listed is the beachfront home at 2624 The Strand.  The 2600 block is a fairly ideal location as the elevation from beach to street offers the potential for a slightly higher home.  The home is fairly dated with 3758 square feet on three levels and being built in 1962.  As an older home, however, it does enjoy some of the benefits that new homes don’t enjoy as setback restrictions were more forgiving at the time.

View the details of 2624 The Strand in Hermosa Beach