Hermosa Beach Real Estate Update
While often it may seem that most of the new construction is happening in Redondo Beach, Hermosa has had a fair amount of activity as well. Actually on par with Manhattan Beach as to availability.
Currently there are 50 active listings for sale in 90254 and 7 of those are new homes (14%). Year to date there have been 68 Hermosa Beach sales and 10 of those (15%) have been newly built homes.
By comparison in Manhattan Beach there are 113 active listings of which 16 are new (14%). In North Redondo Beach there are also 50 active listings but 16 of those are new homes (32%) and in South Redondo Beach 90277 out of 61 active listings 12 are new (24%).
So Beach Cities builders are quite busy and this affects the market in a few ways.
First, Buyers looking for real starters and fixers are getting priced out of the market and outbid by speculators who are looking to buy the same old house for lot value. Second as new construction increases the price point, the resales backfill at ever increasing prices. All leading to more competition at the low end and higher prices upstream.
If you are looking for a new home in the Beach Cities here's a few things to consider:
The DOM - days on market, may be much higher than resales. Often the builders will list the homes before they are complete adding to the count.
Unless they are sold off market, most new homes sell for less, often a lot less, than the initial list price. Builders are notorious for "testing the market". And why not? They've just spent a lot of time and money building a beautiful property.
Here's a few currently listed new construction homes in Hermosa Beach that I like. Scroll down for all the active new construction homes - list will update in real time. For more information, to view properties in person or to submit an offer call 310 975 5139.
1955 Monterey Bl, Hermosa Beach 90254 MLS SB16159816
"Perched on one of the highest points in the Hermosa sand, in one of the most prestigious locations, this new coastal contemporary home from First Light Development is traditionally beachy like a classic home in Martha's Vineyard, but with sleek eclectic modern touches that blend warm woods and stone in a palette that is dramatic yet comfortable. 4 Big Bedrooms with 4.5 Baths. The Office could easily be used as a 5th Bedroom if needed and has access through sliding French doors to an elevated private patio with cool pin lighting in the concrete. 3,600 SF of living space, but it feels much larger with the open floorplan. There are three levels with a 3-stop elevator. The Gracious Master Suite has a Stunning Contemporary Bath and Walk-in Closet, with T&G ceilings and a Massive Window Seat. The Upper Level is a Spectacular Great Room with Sleek Fireplace and Rift Oak and White Cabinets, a Massive Island Kitchen with a Full Compliment of Thermador Appliances and Full Sized Wine Fridge. The Elegant Wine Bar overlooks the Ocean, and is the Central Hub for Entertaining. White Oak Floors Lead Out through 9' Pocketing Doors to an Elevated Sun Deck with Panoramic Whitewater Coastal Views to Catalina, the Hermosa Pier and Palos Verdes. 5 Car + parking."
Current list price $4,999,000 reduced from $5,199,000.
2824 Hermosa Av, Hermosa Beach 90254 MLS SB17058726
"Welcome to a Brand New Development by ROC Ventures: A Stunning Coastal Farmhouse w/ a Few Modern Twists. Built by RJ Smith w/ interior designs by Kate Lester, this 4,600 Sq Ft custom ocean view home has raised the standard of development. From the moment you enter the home through the 8-foot Mahogany pivoting door you notice the attention to detail - Limestone Chevron Pattern Flooring, Ship Lap Siding, 7-inch white Oak Hardwood Floors with Custom Stain Color, Ann Sacks tile, Waterworks Plumbing Fixtures, Ashley Norton Door Hardware, Antique Pendant Lighting, Wolfe and Sub-Zero Appliances, 3 Stop Elevator, A Custom Lighting System, High Velocity Heating and AC, Lutron Shades, Vantage Lighting System, Nest Thermostat Controls and all controlled by an Apple based easy to use Savant Home System. This home has everything and more you would expect from a custom home, including the 600 sqft flex room equipped with beverage fridge and bar which would make a great media room or romper room for the kids. If ocean views are your thing, then head up to the nearly 850 Sq Ft whitewater rooftop deck equipped w/ a blue stone capped fire feature, BBQ, sink and room to spread out. The heart of the home is the Chef’s Kitchen with Neolith countertops which can withstand the demands and needs of the modern family. Located literally across the street from the best Stretch of Strand in all of Manhattan and Hermosa Beach, 2824 provides privacy and perspective only found on Hermosa Avenue."
Current price $7,925,000 reduced from $8,299,000.
1722 Prospect Av, Hermosa Beach 90254 MLS SB17067948
"Sweeping panoramic ocean view new coastal plantation home! Amazing finishes throughout starting with the dutch entry door, wide plank white oak floors and tastefully blended tiles and natural stone throughout. 3,800 square feet of pure luxury in an open, well designed floor plan with 4 bedrooms, an office, media room and 3 stop elevator. The state of the art kitchen features a massive island with Thermador stainless steel appliances and quartz counters. The upper floor has vaulted beam ceilings, a brick fireplace, private double glass door office, top of the line wood slider doors leading to a balcony made for entertaining with breathtaking 180 degree ocean views. The master suite has bi-fold doors that leads to a covered porch with some ocean views. The master bathroom has a freestanding soaking tub and spa like shower with an adjoining enormous master closet. The lower floor features an incredible media room or kids play room with beverage center, a private spacious guest bedroom with walk in shower, tons of storage and attached oversized garage. The quaint exterior details include a metal roof, wainscoting with brick trim, louvered wood garage door, air conditioning and a private yard."
Current list price $2,750,000. No price reduction (yet).
NEW CONSTRUCTION LISTINGS HERMOSA BEACH