The Home that Keeps on Giving -2804 Hermosa Ave

By Keith Kyle2804 Hermosa Ave Oceanview Home

2804 Hermosa Ave

Last sold at the end of 2013 for $3.6M, 2804 Hermosa Ave is now listed for $5.1M. a 41% increase.

There are indicators of the overall real estate market and then there are homes that seem to reflect the market conditions all by themselves.  2840 Hermosa Ave in the sand section of Hermosa Beach is certainly one of those homes and at it’s current listing price is certainly raising the stakes once again.  It seems that the home is on the market just about every year and the most recent jump in value may just say it all about how much demand there is for sand section ocean view homes.  The home was built in 2002/2003 and since then has been on the market 12 times, sold 5 times and is now back as a new listing.  If the frequency of the listings isn’t an eye opener the latest price jump certainly is.  It originally sold for $2,204,000 in 2003 and then sold several times between 2005 and 2013 for prices in the low to mid $3.0Ms.  The most recent sale closed in October of 2013 for $3,600,000.  The latest listing, currently on the market, recently came out at $5,100,000….a price that not too many years ago was ocean front and of more recent times the only $5.0+ sales were new construction.  We’ll see what the home eventually sells for but anything over $5.0M will be quite the indication that the market and values have exceeded just about anyone’s expectations.