Hermosa Beach Sand Section Real Estate Update

The inventory remains low in the sand section of Hermosa Beach with only 5 single family homes on the market in this very sought after area of the South Bay.  The sand section is the area of Hermosa Beach from The Strand (Hermosa’s famous ocean front walk) to the greenbelt located at Valley and Ardmore and offers many homes that have tremendous ocean views and are in close proximity to the beach and downtown Hermosa and Pier Plaza.

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Upcoming New Construction in Hermosa Beach

Recent news has shown that builder confidence is up and that new construction starts is at a multi-year high. That’s not anything new for Hermosa Beach. A quick drive through the Hermosa Beach sand section makes it clear that builders are most definitely building. According to South Bay realtor and Hermosa Beach resident Keith Kyle with South Bay Brokers, “it’s hard not to notice the abundance of projects underway. In some areas there are 3 or 4 new homes being built on the same street. The market has always remained strong during the downturn, but the amount of builders buying older homes shows that confidence in the Hermosa Beach real estate market is very high.”  Much of the new construction is for owner users, but more and more spec projects are taking place as well. Below are some of the projects underway in Hermosa Beach. Prices on most are, as yet, undetermined but many do have some pricing information available. Beyond simply having a new home, the advantage to purchasing new construction when the project is underway is that buyers can often work with the builders in choosing finishes and truly make for a custom home.

2434 Hermosa Ave Single Family
2459 Myrtle Single Family
108 35th Street Single Family
2850 El Oeste Single Family
2418 Myrtle Single Family
504-512 25th Street 2 Single Family or 4 Townhomes
345 33rd Street Single Family
1400 Block Monterey 3 Townhomes
1100 Block Cypress 3 Townhomes
162 Monterey 2 Townhomes
100 Block of Manhattan
Ave
2 Townhomes
1500 Manhattan Ave 2 Townhomes
1515 Manhattan Ave 2 Townhomes
2052 Manhattan Ave Single Family
1160 Cypress 2 Townhomes
533 11th Street 3 Townhomes
1600 Golden 2 Townhomes
1200 Block 9th Street 2 Single Family Homes

Hermosa Beach Sand Section Home Prices Reaching New Levels

Although median prices in a luxury market such as the Hermosa Beach sand section can vary dramatically due to one or two oceanfront home listings on The Strand, the median home prices for active listings has reached record highs.  The sand section of Hermosa Beach is the area closest to the ocean and is bordered by Manhattan Beach to the north, the streets of Valley/Ardmore to the east, and Redondo Beach to the south.  There are numerous housing options ranging from magnificent Strand homes, to “walkstreet” homes with an alley in the back but a pedestrian only sidewalk in the front, to endless ocean view condos, townhomes and single family.  In general prices are higher north of Pier Avenue.

According to local realtor and Hermosa Beach resident Keith Kyle with South Bay Brokers “the homes active on the market are almost all exclusively very high end luxury homes and we’ve reach a median home price never seen before.”  The current median home price for all types of active homes is at $3,749,000.  This in a town where the median prices have hovered in the $1.1M-$1.2M in general for the past few years.  There are many factors at the moment including a number of ocean front homes including 2666 The Strand, an oceanfront estate priced at a whopping $15,900,000 (incredibly it was raised from it’s original $13,900,000), 718 The Strand at $6,300,000 and 5 other homes priced over $4.0M with 3 walkstreet homes for sale.

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And then there were two…..short sales a thing of the past in Manhattan and Hermosa?

With the low inventory and high demand, the few short sales that appear on the market don’t seem to last long.  We’ve tracked the Manhattan Beach and Hermosa Beach short sale and foreclosure market for the past few years and we are now at a several year low with only two “distressed” sales currently active on the South Bay MLS.  In recent months the few short sales and foreclosures in these areas are generally pricing and selling closer to market value.  Below are the two current foreclosures, one each in Manhattan Beach and Hermosa Beach.  The condo in Hermosa Beach is located in the condo/hotel The Beach House Hermosa Beach and is unusual due to it’s condo/hotel aspect which only allows owners to stay a total of 90 days a year.  This challenge makes financing almost impossible which is partially responsible for the past and current short sale situation.  The other is located in the El Porto area of the Manhattan Beach sand section.

Keith Kyle is a licensed Realtor, short sale specialist and Top Producing agent with Vista Sotheby’s International in Manhattan Beach.  He serves his clients throughout the South Bay and his websites KeithKyleHomes.com, Redondo Beach Real Estate , Torrance Real Estate, Manhattan Beach Luxury Real Estate and FindYourSouthBayHome.com offer the most comprehensive real estate destinations in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more.  Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com.

 

Hermosa Beach Sand Section Real Estate Update

The Hermosa Beach sand section has continued to be an incredibly hot market with inventory low, sales up and prices seeming to rise quickly.  Currently there are 15 active listings with almost all being standard sales as the inventory of foreclosure and short sale listings have almost completely disappeared.

Active listings as of 10/29/12.  For up to date information view our Hermosa Beach sand section listings.

ML# Type   Address  Price  Br/Ba Year Sq Feet
S709685 CONDO/A 447 HERONDO ST #103  $ 525,000 2/2,0,0,0 1978/ASR 1398
P836326 CONDO 320 HERMOSA AV #204  $729,000 2/2,0,0,0 1972/ASR 1049
S12044286 CONDO/A 1300 The Strand #305  $850,000 1/1,0,0,0 1998/ASR 469
V12114260 SFR/D 1635 Palm DR   $950,000 2/0,2,0,0 1920/ASR 1002
S12113824 SFR/A 516 24th ST   $995,000 2/1,0,1,0 1962/ASR 1302
S12124273 SFR/A 421 Gould AV   $1,000,000 3/1,0,0,0 1955/ASR 1018
SB12132957 TWNHS/D 233 Lyndon ST   $1,099,000 3/2,0,1,0 2006/BLD 2000
SB12129991 SFR/D 1617 Hermosa AV   $1,100,000 2/1,1,0,0 1912/ASR 960
12620619 SFR/A 304 MANHATTAN AV   $1,199,000 2/2.00 1948 1496
S12090810 TWNHS/D 836 Bard ST   $1,359,000 4/3,1,0,0 2007/ASR 2120
S12105793 TWNHS/D 842 Bard ST   $1,389,000 4/3,0,1,0 2007/ASR 2120
SB12131835 TWNHS/D 446 Bayview DR   $1,485,000 3/4,0,0,0 1998/ASR 2199
SB12131502 TWNHS/A 900 Manhattan AV   $1,539,000 4/4,0,0,0 2001/ASR 2322
SB12133012 SFR/D 2412 Silverstrand AV   $1,649,000 3/1,2,0,0 1964/ASR 2224
S12072991 SFR/D 3501 Manhattan AV   $1,699,000 3/2,0,0,0 1975/ASR 1903
Y1204492 SFR/D 229 24TH ST   $1,799,000 4/3,0,1,0 1996/ASR 3211
S12114109 SFR/A 18 5th ST   $2,199,000 3/4,0,0,0 2010/SLR 2155
S12075202 SFR/D 2448 Silverstrand AV   $2,689,000 6/4,0,1,0 2001/ASR 4234
S12123796 SFR/D 2240 Monterey BL   $3,100,000 4/2,2,0,0 1991/ASR 4080
S12069957 SFR/D 43 20th ST   $4,395,000 6/5,0,1,0 2002/ASR 3669
S12123299 SFR/D 412 The Strand   $4,875,000 5/2,2,1,0 1929/ASR 3833
S12118481 SFR/D 108 35th ST   $4,950,000 4/2,1,1,0 2013/SLR 4000

Below is a list of the pending home sales in the sand section of Hermosa Beach as of October 29th, 2012.  Currently 13 homes are in escrow with the lowest price being a short sale condominum located beach front at 72 The Strand (priced dramatically too low) and the highest price being a single family home at 718 The Strand (on the corner of 35th and Hermosa Ave) priced at $6,300,000

The chart below shows the closed home sales for the month of October.  Click to view the details, descriptions and photos of the closed home sales in Hermosa Beach by month.

1918 Manhattan Ave, Hermosa Beach 90254

This is one of the more unique homes I have seen in quite a while.  It was a custom build on an oversized lot with fantastic views and top of the line finishes and located just 2 blocks from the beach in the Hermosa Beach Sand Section.  The house is absolute modern luxury with an abundance of open spaces to take advantage of the beach weather and ocean views.  The home is listed by Nick Schneider of South Bay Brokers.

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