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Hermosa Beach Pending Home Sales Reach 5 Year High

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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.

Real Estate on the Rise in Redondo Beach Golden Hills Neighborhood

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Unlike the adjacent neighborhoods of Manhattan and Hermosa Beach, the real estate market in the Golden Hills of Redondo Beach, just east of Hermosa has been somewhat unique in recent months. Everything seems to be on the rise with the number of active homes for sale increasing, sales increasing, pending home sales increasing and prices on the rise. The area is home to a rather unique type of single family home known as a “tall and skinny” in the local real estate world. With lots dimensions at 25 x 100 and minimal setback requirements, most homes are only separated by 5 feet and is something not seen in many other neighborhoods. Read more about the pros and cons of Golden Hills Real Estate. According to Redondo Beach real estate specialist Keith Kyle, “we’re seeing homes selling over list price, with multiple offers on a fairly regular basis and prices have rebounded considerably in 2013.”
Active (Light Green), Pending (red line) and Sold (Dark Green) Golden Hills Single Family Homes

Days on Market and % of Original List Price Homes are Selling at

Hermosa Beach Real Estate Update March 2013

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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
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
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
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 –

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