Hermosa Beach Properties Current Market Overview

Hermosa Beach Properties Current Market Overview:

The Hermosa Beach real estate market has 48 Active listings and 35 homes are in Escrow. There were 22 closed sales in May and only two of them were under 1 million. Hermosa has about 1.8 months of inventory. Most buyers were able to negotiate a 3% discount on the purchase of their new homes. The average selling price in Hermosa Beach in May has increased a lot from last month to $3,007,000. The homes sold this month at an average sq/ft price of $1311. Why?  There were three expensive Strand Homes sold and one of them sold for $14,150,000.

We are very excited to share with you such great information about Hermosa Beach Properties current market overview. The data below allows you to analyze the information so buyers and sellers can make sound real estate decisions.

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago TODAY STATS
May. 17 Apr. 17 % Change May. 17 May. 16 % Change Mar. 17 to May. 17 Mar. 16 to May. 16 % Change 6/1/2017 – 6/11/2017 5/1/2017 – 5/11/2017 % Change
Avg. Sq. Ft. Price (Sold) 1311 871 50.5% 1311 979 33.9% 1102.11 928.7 18.7% 773 1053 -26.6%
Date 3/16 4/16 5/16 6/16 7/16 8/16 9/16 10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17
For Sale 36 51 51 58 62 48 50 48 45 40 41 41 46 48 48
New Listing 30 41 27 41 36 18 30 24 18 12 24 21 27 34 30
Sold 16 19 18 22 23 26 21 23 16 14 14 9 14 18 22
Pended 21 22 16 25 26 24 12 22 14 7 16 15 18 24 27
Months of Inventory (Closed Sales) 2.3 2.7 2.8 2.6 2.7 1.8 2.4 2.1 2.8 2.9 2.9 4.6 3.3 2.7 2.2
Months of Inventory (Pended Sales) 1.7 2.3 3.2 2.3 2.4 2 4.2 2.2 3.2 5.7 2.6 2.7 2.6 2 1.8
Absorption Rate (Closed Sales) % 44.4 37.3 35.3 37.9 37.1 54.2 42 47.9 35.6 35 34.1 22 30.4 37.5 45.8
Absorption Rate (Pended Sales) % 58.3 43.1 31.4 43.1 41.9 50 24 45.8 31.1 17.5 39 36.6 39.1 50 56.3
Avg. Active Price 3587 3510 3523 3593 3660 4002 3391 3445 4032 4161 4302 4227 4498 4324 4071
Avg. Sold Price 1521 2193 1678 1648 1900 2408 1794 2380 1630 1626 1417 1207 2855 1738 3007
Avg. Sq. Ft. Price (Sold) 1000 821 979 868 892 1069 821 993 968 910 812 672 1071 871 1311
Sold/List Diff. % 102 97 97 100 97 96 97 96 96 101 95 99 97 99 99
Sold/Orig LP Diff. % 100 96 95 98 96 96 96 94 94 100 94 98 90 98 97
Days on Market 45 65 53 60 50 70 49 60 44 41 32 33 77 41 43
Median 1265 1515 1317 1240 1410 1771 1700 1975 1450 1535 1403 1080 1585 1415 1738
Table Information
* All reports are published June 2017, based on data available at the end of May 2017, except for the today stats. All reports presented are based on data supplied by the CARETS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.