Hermosa Beach Real Estate prices and market activity moves at its own pace that is not always in lock step with Manhattan Beach or Redondo Beach. If you are thinking of buying or selling a home in 90254, you'll need to take a long, hard look at the data before you make a move. What you find may sometimes surprise you.
During calendar year 2013, 233 homes sold in Hermosa Beach. Here's a further breakdown of the numbers:
- Sand Section 95 Sales
- Hermosa Valley 58 Sales
- East Hermosa 80 Sales
- Single Family Homes 124 Sales
- Townhomes 69 Sales
- Condos 40 Sales
- Average Selling Price $1.327M
As the following chart shows, inventory, sales, and properties put into escrow really tapered off towards the end of last year. I like to track the red line, waht has been "pended" or gone into escrow, against available inventory and sales. While we have certainly been in a "Seller's Market" from a technical perspective, understanding where the resisitance is and the trend line is extremely helpful whether you are in the market to buy or sell.
FYI, as of this blog post, there are 25 Hermosa Beach CA homes being offered for sale and an equal number in escrow. Last month, january 2014, there were only 12 sales completed in Hermosa Beach which is certainly below the trend line of 2013. So, sellers market, yes. But buyers aren't buying either. Makes for an interesting mix to say the least.
I'm not sure what a "day trader" would say about the above chart which shows months of inventory on hand. At a minimum, every buyer and seller should consider where in the cycle we are for their side of the equation.
If you like this kind of analysis and find it helpful, visit the Market Trends page on this website for more information that is always updated.