Hermosa Beach CA - July 27th 2011
Real estate activity on the Hermosa Beach Strand has picked up significantly over the past few months with some very notable sales, new listings and price reductions. (See also Manhattan Beach Strand Update)is a 3 bedroom condo. A similar unit in the same building at 638 The Strand recently closed with a sale price of $1,560,000 which wasn't far off of the list price of $1,599,000. The two most notable sales were at 2408 The Strand, which was a vintage beach house on an over sized lot. Originally priced at $16.5M in 2009 the home closed escrow at $8.0M which was a fantastic deal for the location and size of the lot which was just over 7600 sq ft. The other big sale was of 2826 The Strand, a brand new over sized home on an over sized lot. The home itself showed an unheard of 8000 square feet with all of the luxury attributes including elevator, exercise room, media room/bar area, and 3 story glass water feature. The sale was being touted as the highest MLS sale in Hermosa Beach at $12.6M after being listed at $14.9M. Other sales included 2666 The Strand a fixer on an unusual lot closing at $6.0M and the aforementioned condo at 638 The Strand. Currently one home is pending after an aggressive price reduction at 1534 The Strand. The sales price is unknown at this point but the home had just been reduced to $3.99M and quickly went under contract. If oceanfront living is the ideal but prices aren't you may want to consider ownership of a unit at The Beach House. Boutique hotel room units are individually owned and currently there are 4 units for sale.
Keith Kyle is a licensed Realtor, short sale specialist and Top Producing agent with South Bay Brokers in Manhattan Beach. He serves his clients throughout the South Bay and his websites KeithKyleHomes.com, ManhattanBeachLuxuryRealEstate.com and FindYourSouthBayHome.com offer the most comprehensive real estate destinations in the South Bay with free MLS access, current home listings, open houses, recent home sales information and more. Keith can be reached at 310-251-2344 or by email at info@KeithKyleHomes.com. For more information on the South Bay, visit my Beach Cities Real Estate blog.
