Tag: mls listings
If it has a panoramic view why can’t I see it?
Working and living in a beach community, much of the appeal, and what buyers are searching for are views of the ocean. Many listings tout their panoramic ocean views, whitewater views, Catalina views etc so why can’t I seem to find a picture of it? Buyers these days are savvy and understand that realtors often use words like cozy or quaint when they mean small, charming to mean original condition, etc. so when they can’t see the view, they just may not believe it has the view. We are not only selling homes in Manhattan Beach, but a lifestyle and if a picture is worth a 1000 words, this is a missed opportunity.
South Bay Home Listings On the Rise….As Well as Pending Sales and Sold Homes
First the good news for buyers. The number of new listings has continued to increase for the past several months with monthly increases since January (March was an exception). Unfortunately that hasn’t meant finding a home is any easier as the increase in listings has also seen a significant increase in home sales and pending escrows. According to Keith Kyle, Realtor with South Bay Brokers in Manhattan Beach, “the increased number of listings is a good sign, but it hasn’t alleviated much of the pent up demand.
Hermosa Beach Real Estate – By the Numbers
The below chart offers a quick overview of the real estate market in Hermosa Beach as of March 4, 2013. The month of February saw 12 closed sales with 40 active homes for sale and 32 pending home sales in this small coastal community. Prices are definitely on the rise and is the case with neighboring Manhattan Beach and Redondo Beach, inventory is at near record lows while demand remains very high. Click here to view the recent Hermosa home sales by month, or the current MLS list of homes for sale in all areas of Hermosa Beach CA. The active listings averages and median home prices are skewed somewhat by the oceanfront home for sale at 2666 The Strand priced at $14,250,000.
12 February Closed Sales
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List Price | ADOM | Selling Price | BR | BA | Year Built | SqFt | Lot SqFt | ||
Min | $399,000 | 4 | $ 345,000 | 1 | 1 | 1929 | 450 | ||
Max | $4,975,000 | 1011 | $ 4,600,000 | 5 | 5 | 2012 | 4,040 | 10,132 | |
Avg | $1,541,167 | 116 | $ 1,476,667 | 3 | 2.75 | 1978 | 1,929 | 4,008 | |
Sum | $18,494,000 | $ 17,720,000 | |||||||
40 Active Listings
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List Price | ADOM | Selling Price | BR | BA | Year Built | SqFt | Lot SqFt | ||
Min | $335,000 | – | 1 | 1 | 1920 | 439 | 973 | ||
Max | $14,250,000 | 328 | – | 6 | 8 | 2013 | 7,000 | 43,536 | |
Avg | $1,819,950 | 62 | – | 3 | 3.2 | 1982 | 2,117 | 9,278 | |
Sum | $72,798,000 | – | |||||||
32 Pending Sales
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List Price | ADOM | Selling Price | BR | BA | Year Built | SqFt | Lot SqFt | ||
Min | $335,000 | 1 | – | 1 | 1 | 1924 | 440 | 1,007 | |
Max | $3,289,000 | 321 | – | 4 | 5 | 2013 | 3,700 | 59,585 | |
Avg | $1,025,369 | 64 | – | 3 | 2.61 | 1978 | 1,755 | 9,451 | |
Sum | $32,811,800 | – |
Home Listings on the Decline in the Beach Cities Area
Beach Cities Real Estate Market Update
Home Listings on the Decline
The number of frustrated South Bay home buyers (and buyers agents) continues to rise as the inventory of available homes in the South Bay and Beach Cities continues to decline with a multi year low for the month of October. October closed out with 224 active homes for sale in Manhattan Beach, Hermosa Beach, Redondo and El Segundo which was dramatically lower than any other month and down over 50% from last September. Currently there are 216 homes for sale with the downward trend appearing to continue. Pending sales were on the rise as well with October closing with 180 homes in escrow. That’s an unbelievable ratio of active to pending sales and something not seen in many years. Click here to view the current homes for sale or to see October 2012 home sales per city.