Hermosa Beach Pending Home Sales Reach 5 Year High
Hermosa Beach has long been one of the more sought after coastal communities with demand for homes in the small beach community always high. Recent market conditions have created an even greater demand as inventory of active home listings has continued to decline while the few homes available quickly go into escrow. The 31 homes in escrow or “pending” in June of 2013 is the highest number since 2007 and is helping drive prices up as demand continues to soar.
Chart showing 5 year active, pending and sold homes in Hermosa Beach
June saw 37 active MLS listings and homes for sale, 31 pending home sales and 18 closed escrows or sold homes. Visit our home sales page to see the homes sold in June 2013 and prices for the sold homes. According to long time Hermosa Beach resident and top real estate agent Keith Kyle with South Bay Brokers, “This is an almost ideal climate for sellers with the usual summer demand in full effect due to buyers looking for homes in the Hermosa Beach school district, low inventory, historically low interest rates and prices continuing to rise.