Friday, September 20, 2013

Hermosa Beach CA Home Sales and Price Guide

Hermosa Beach CA Real Estate
Back by popular demand, I'll be reviewing Hermosa Beach CA Real Estate sales on a monthly basis and offering my unique working Realtor feet on the street insight and comments as to what has transpired in the prior month. This blog will also continue to comment on new listings and other local happenings that affect home sales and prices as well as other Real Estate related news on a weekly basis.
So, let's take a look at Hermosa Beach homes sold during August 2013 including condos, townhouses, single family residences, ocean view properties and whatever else I can think of.
The first piece of very good news is that Hermosa Beach propety sales were on a staggering pace during August with 30 closed transactions. Wow.To put this in some perspective, through the first 7 months of 2013 there were 129 closed MLS sales which averages out to 18.5 home sales per month. The jump to 30 sales is an increase of 66% by my math. By neighborhood, this broke down to 13 Hermosa Beach Sand Section home sales, 6 Hermosa Valley sales, and 11 East Hermosa Beach (Hills) homes sold.
As for prices, anywhere from $407,000 for a 802 sq ft 1 bedroom condo at 1600 Ardmore up to $5,250,000 for over 4000 sq ft on a Hermosa Beach walkstreet. About half the sales, well 16 actually, were single family homes (SFR) while the balance were condos (4) and townhomes (10). And, as I always point out, from an ownership perspective, townhouses are zoned as condominiums.
In a very healthy sign for Hermosa Beach homeowners, there were six sales over $2M which had been a tough number to crack for quite a while in Hermosa and 13 sales between $1 and $2 million. The median price for all homes sold was $1,207,500 and for single family residences $1.365M. The average selling price was $1,544,005 which may have bought you an above average 2216 sq ft 3 bedroom property built on average in 1981. Here's some more data and statistics:
Hermosa beach ca housing inventoryThrough July, Hermosa Beach ahs been running with less than 3 months of inventory for most of the year. Bear in mind that less than 3 months of inventory is considered a "seller's market". We entered August with about one month of inventory and then had 30 sales which was the highest over the past year.
Hermosa Months of Inventory Report
Hermosa Beach for sale vs sold homes reportFor sale vs sold guidelines
HERMOSA BEACH SAND SECTION HOMES
As previously mentioned there were 13 Sand Section sales ranging in price from $685K up to $5.25M. A few things strike me. First, the sales above $2.5M were very healthy and second, for the mid $1's you can still score an amazing Sand Section townhouse and even new construction in the $1.6's.
501 Monterey Blvd Hermosa Beach CA501 Monterey Blvd Hermosa Beach CA is a 2391 sq ft detached townhouse built in 1998. It was listed by South Bay Brokers for $1.485M and sold almost $100K higher at $1.58M even though the sale was contingent on the sellers finding an upleg (kind of the new normal). The buyers were represented by Shorewood Realtors.
"With panoramic ocean views, this beautiful contemporary 4 bedroom, 4.5 bath makes you'll feel like you're at a first class resort and  buyers will appreciate the attention to detail and quality finishes. The top floor great room has ocean views and includes maple kitchen cabinetry, gorgeous granite counters, limestone flooring and new Viking appliances. The family room family room features a fireplace and the dining area has Bamboo hardwood flooring.MLS SB13111278
728 Loma Hermosa beach CAI have previously written about the new construction at 728 and 734 Loma. "In the Heart of the beautiful beach community of Hermosa Beach, these warm contemporary designs draw you into that sophisticated and relaxing lifestyle that is perfectly matched to the Southern California coastline. Design considerations for views and open space are prevalent as soon as you enter this modern oasis. Design elements of stone and wood accent the ambient sense of welcome and comfort. West facing full height windows draw your eyes towards the coastline and sunset views. Adorned through out with design concepts that draw from the latest industry high standards. All rooms such as the master bedroom and bath reflect a 5 star resort sensibility. The creation of a modern, stylish and active lifestyle home was the overriding direction given to the architect and builder for this, the latest addition to a classic beach homes tradition."
728 Loma sold for $1.6M even and 734 Loma sold for $1.651M. They were listed by NWRE Brokers.

58 20th St Hermosa Beach CA58 20th St is a detached townhouse situated on a flat walk street and sold for $2,800,000 "all cash". It was initially liested by Lenny Larocca of Shorewood Realtors for $2.99M so cash bought a 10% discount in this instance.
"A grand 2-story entry with wrought iron railing spiral staircase welcomes you upon entering this master piece. With high ceilings and an open floor plan including 4 bedrooms, 4.5 baths plus 3,400 sq ft (per seller), this ocean view home is a rare find. The gourmet kitchen has Blue Bahia counter tops, custom cabinetry, a walk-in pantry and top-of the line steel appliances. Other interior features include natural stone throughout, custom mosaic, travertine and walnut floors. The entire house has surround sound and exterior video security and a top-of-the-line theater room complete with terraced seating. Enjoy the fresh air on your ocean view decks, either out on the decks, or on the extra wide and deep 45' x 24' elevated front year/patio with wonderful dual fountains." MLS SB13068232.
Really a matter of persnal taste and style as to who would buy 58 20th St vs the SFR at 119 16th St. 16th St is sand section Cape Cod. "This custom built home sits perched on 16th street just a stone's throw from the beach. The finest of finishes and the most luxurious amenities are what you would come home to on a daily basis. Views from PV to Malibu span across the ENTIRE main floor from the kitchen... to living room...to office... and to large balcony. The spacious tri-level floor plan of approx. 3,000 sq. ft features a roof top deck w/ jacuzzi, media room with wet-bar, lavish master suite, gourmet kitchen with Viking, Jenn-Air & Fisher-Paykal appliances, family room w/ fireplace, outdoor shower and video surveillance." Listed and Shored by Shorewood Realtors. Listing price $2.995M. Sold for $2.9M. MLS SB13117796.
16th St Hermosa MLS
And then there was 41 16th St, the very rare Hermosa Beach non Strand sale over $5M.
41 16th St Hermosa Beach CA"6 beds,5.5 bath beach home has both state of the art features & supreme architecture w/ 4,100 sq. ft. of living space. Located on a walk street just steps away from the sand & ocean,perfect for any beach lover! The front walk street patio has both an outdoor fireplace & fire pit,sitting area & Lynx BBQ w/ Tuuci umbrellas.The sliding glass doors open up to the Living Room which features a fireplace, Porcelain tile floors-that have a wood appearance,Wet Bar w/ refrigerator and onyx flooring which lights up & changes colors, Mahogany cabinets, Control 4 smart home audio, video, security & lighting. In the kitchen you will find Thermador appliances throughout, stainless steel double ovens, both refrigerator & freezer w/ wood cabinet fronts & lower drawers & Quartz counter tops. The marble staircase which leads up to the 2nd floor takes you to the Master suite w/ a fireplace & walk in closet. Master Bath has state of the art Numi toilet w/ custom controls-as well as a custom control shower, & heated flooring. Enjoy movie night w/ a projection room/ family room, that opens up to a 2nd kitchen and guest quarters which features 2 built in bunk beds and stairs leading to a 2nd master suite-this home is a must see!"
16th St MLS
Here's a recap of all the Hermosa Beach Sand Section sales for August:
HERMOSA "VALLEY" HOMES SALES
Hermosa Valley sales august 2913'
Hermosa Beach Valley is bordered by the Valley Ardmore Greenbelt to the West and Pacific Coast Highway (PCH) to the East except for the area north of Pier Avenue where houses West of the Greenbelt are also considered Hermosa Beach Valley. There are many single family homes, attached and detached townhouses and condos within walking distance to the beach, downtown Hermosa, restaurants, entertainment and everything else Hermosa Beach has to offer. You can find everything for sale from original beach bungalows to new construction mansions. Home prices may be slightly lower than just a few blocks further West and for many the quality of life is very similar to their neighbors closer to the beach.
One of the most affordable first time buyer entry points into Hermosa Beach is the condo complex at 1600 Ardmore, The Commodore. there were two units sold there during August. I think Unit 228 was a good value at a sales proce of $440K (HOA dues $399 month). It was listed and sold by Century 21. MLS CV13082573.
The Commodore Hermosa beach CA"Gorgeous Hermosa Beach Condo in the Commodore Building located west of Pacific Coast Highway. Kitchen has a newer Corian-like Counter-top and newer carpet flooring through-out. Unit has a open floor plan, with a spacious living room that opens to the balcony. Both bedrooms are master suites, one with attached bathroom and large sliding closet, and the other, has a walk-in closet. Walking distance to the beach, shops, clubs, dining and 24 hour fitness center. Nearby Green Belt hiking trail on Ardmore Ave is great for the avid runner. 2 covered parking spaces with storage cabinet. Building amenities include recently renovated laundry facilities and gym. The oversized indoor pool/sauna/spa area has been completely refurbished and the large common courtyard area patio has also been recently updated."
I also thought the townhouse at 650 11th St Unit B was a good deal and showed it to multiple buyer clients.Listed and sold by RE/MAX.
"This townhome is perfectly situated in a 3 on a lot complex with ocean views from Palos Verdes to Malibu. Watch the sunsets from the living room and large deck! It has a large living room with high ceilings and fireplace, formal dining area with a second deck that is perfect for the barbecue, updated kitchen with granite counters, spacious master with walk-in closet and remodeled bath plus 2 additional bedrooms, an oversized 2 car garage with extra storage space and approximately 1,800 square feet of living space. Enjoy walking to the beach, restaurants and pier."
650 11th St
If you want to buy a home in the Hermosa Valley neighborhood, follow these MLS links:
EAST HERMOSA BEACH SALES
East Hermosa Beach Sales
For my money, East Hermosa Beach is one of the hottest neighborhoods in the Beach Cities right now and may be some of the ebst deals as well. You can walk to the beach and the downtown restaurants from many of these homes and there are ocean views hence the name "Hermosa Hills". I also like the "beachy" feel of many of the streets. Great neighborhood with great neighbors (for the most part). Here's some of the homes I thought were good deals as well as sales that caught my attention.
1042 7th ST Hermosa 90254
I represent the buyers of 1042 7th St, (pictured above) a deatched 2 on a lot townhouse with an ocean view from the roof top deck and an ocean peak from the bedroom. My buyers paid $1.220M which I considered to be an excellent deal as the slightly larger back unit, 1044 7th St, with less curb appeal sold at about the same time for $1.270M.
1042 - 1044 7th St hermosa beach caAnd actually considering where prices are today, you could not go wrong with either of these properties. Both were listed by South Bay Brokers (different agents) and the rear unit was sold by RE/MAX. As of this blog post, I am with Shorewood Realtors (Hermosa Beach office).
1255 10th St Hermosa beach CASelling at Manhattan Beach prices was the 1255 10th St, "a stunning Cape Code Custom Designed Home in the Hermosa Hill. Built in 2005, 3785 Square Feet, 5009 lot square feet and 4 bedrooms & 3.5 baths. High ceilings, skylights & recess lighting. Brazilian Cherry hard wood floors throughout first floors, stairs & upper hall way. Large master suite has fireplace, his & her walk-in closets, spacious bath has spa tub & separate shower. All bedrooms are located on the 2nd floor and has some city views. Sunny living room with high ceilings & fireplace. Spacious family room with fireplace and opens to beautifully landscaped huge rear yard . Formal dinning room with butler pantry is great for entertaining. Gourmet kitchen with granite counters, center island, stainless steel appliances , walk-in pantry and large breakfast area."
This property went for $1.8M "all cash". It was listed by RE/MAX. MLS PV13106912.

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