Inventory is down a bit compared to last month. Sales of homes and townhomes are about the same as last month. There are two Strand homes in escrow and 5 for sale. . If you are looking for a Strand home then Hermosa seems to have the best values. Available properties as of 8/29/2008:
Townhomes/condos: There are 53 available compared to 46 last month at this time. The average CDOM (cumulative days on market) is 89 days compared to 81 days last month. Prices range from $399,000 to $2,595,000. The median townhome/condo price is $,1,294,000 compared to $1,294,000 last month. Price per sqft is $642 compared to $677.
Single Family Homes: There are 53 available compared to 59 last month. The CDOM is 89 compared to 83 days last month. There are 9 homes under the $1 million mark. Prices range from $639,000 to $8,950,000 for a Strand home . The median home price is $1,999,000 compared to $1,795,000 last month. The price per sqft is $998 compared to $882 last month. For a current list of available properties e-mail me at: kaye@KayeThomas4homes.com or click on ASK ME A QUESTION link below this article. ( See my newsletter for "SOLD" information)
Strand property in Hermosa is starting to move with prices rivaling those in Manhattan Beach. Townhomes/ condos are still the best buy in Hermosa. There are 14 available under $700,000 and 8 of those are under $500,000. If you are looking for two-three "beach" units I would think about purchasing now. The Sand section of South Hermosa is still a relative bargain compared to Manhattan Beach.Hermosa is probably the best value for your money in the Beach Cities. North Hermosa "Strand" and "Sand" prices are close to prices in Manhattan Beach. Walk street homes are a great value in South Hermosa when compared to Manhattan Beach. There are some excellent properties in the Hermosa Sand section with ocean views under $4,000,000.Some very nice walk street homes have gone on the market and sold fairly quickly. Income property is moving very fast. Buying units can often help a new buyer qualify for a bit more property. Much of Hermosa is 'hilly' which allows for many properties to have ocean views other then ones in the Sand section. Homes that are east of Pacific Coast Hwy, often have stunning views. It is possible to buy a starter in east Hermosa under $975,000. You can purchase a nice home in Hermosa for $995,000-$1,600,000. The Hermosa lifestyle is still "Beach Casual". The re-designed downtown is set up with outdoor dining and a downtown plaza. It is a fun town to visit. Each year the town hosts two "Fiestas" with arts and crafts prominently featured. The St. Patrick's Day Parade is a local favorite. The school system in Hermosa is excellent, though very small. High School students have a choice of going to Mira Costa in Manhattan Beach or Redondo Union in Redondo Beach.
ZIP Code: 90254 Approximate Location Boundaries: South of Manhattan Beach along the Pacific Ocean. It is west of North Redondo Beach (405 Fwy) and North of South Redondo Beach.
Location Characteristics: Hermosa is a quaint little beach town. It isn't as sophisticated as its neighbor Manhattan Beach. It is still an old style California Beach town much like the ones I grew up with in the '50's.
About Kaye Thomas:
I grew up in Orange County where my family was active in Real Estate. I moved to Manhattan Beach in 1969 after graduating from UCLA. I have been a full time Realtor since 1979. I am happy to answer any real estate question you may have about buying or selling in the South Bay. Curious about the market and new listing info.. I'll be happy to get you set up to receive new listings as they become available. Need a Market Analysis of your home contact me for a Free Over the Net Evaluation I can offer your help with staging to get your home in top shape. If you are relocating I'm happy to give you local information and tips on what to expect. I answer my phone and e-mail promptly. and return all calls within one hour. My job is to make your Real Estate experience a pleasant and profitable one. I hope to have the opportunity to work with you soon.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
