The biggest drawbacks to this area are the price and the limited space as land is at a premium and just about every inch of lot is taken up by homes. Gone are most of the beach bungalows that actually fit on the lot and most have been replaced by larger and larger homes as wide, deep and tall as they can possibly be. Some of the unique areas are the “walkstreets” in which the homes front a pedestrian only “street” which allows for less noise, no cars, and a much safer atmosphere and the lack of cars make views that much more impressive. El Porto, the most northern area of the sand section, is the most affordable as many of the typical 30×90 foot lots were split and the smaller lots equal smaller homes equal smaller price tags. Without question the most sought after property in the sand section are the very rare and always impressive homes located beach front on “The Strand” These homes offer the high end luxury buyer endless and unblockable ocean views.
The very epitome of luxury coastal living in Southern California is The Strand in Manhattan Beach and Hermosa Beach. These homes have seen values increase dramatically over the last 18 months with homes priced and selling for over $10,000,000 being fairly common. With the number of homes on The Strand actually decreasing in the past 10 years with lots being combined and multi unit buildings being replaced with larger single family homes, the values look to continue to rise in the future. Currently there are 5 beachfront homes for sale on The Strand with the homes at 1140 and 2216 The Strand for sale in Manhattan Beach, and 136, 3001 and 2666 The Strand in Hermosa Beach.
May 2013 was a big month for both the number of home sales and prices in the cities of Manhattan Beach, Hermosa, Redondo Beach and El Segundo. Both the number of sales and home prices were on the rise. The chart below paints a pretty clear picture that the number of homes for sale, as well as pending sales and closed home sales is on the rise. According to local real estate expert Keith Kyle, “as we see the inventory of new listings rise we should start to see the return of a balanced market. We had a very unusual turnaround in which we went directly from a buyers market to a sellers market and never really reached an equilibrium.”
View the homes sales by clicking any of the May 2013 home sale links below.
Prices have jumped considerably in the sand sections of both Hermosa Beach and Manhattan Beach, and much of the reason is the recent flood of the market of very high end luxury homes in A+ locations. Although there are a few oceanfront “Strand” homes for sale, the primary reason for the recent rise in median prices is the number of homes and townhomes on the highly sought after “walkstreet” locations. The current median price for a Hermosa walkstreet home is $3974,000 and the current average price is $4,447,500. The current median price for a Manhattan Beach walkstreet home is $3,350,000 and the average price is $4,123,000.
For more information on the Manhattan Beach or Hermosa Beach sand section, or any of these luxury walkstreet properties, please feel free to contact us at 310-251-2344 or firstname.lastname@example.org.