Form a real estate standpoint, Hermosa Beach is often described as being made up of three distinct areas. These include the sand section, the valley, and Hermosa Beach East. The latter area is the relatively small area of Hermosa Beach that is located east of Pacific Coast Highway. Many of the homes here offer ocean views with livable space of 1,800 sq ft or so. Lot sizes are typically between 3,000 to 4,000 sq ft. The home values in this area have not mirrored the South Bay in general over the last several years. In virtually every other area, average sales prices rose each year from 2002 through 2007. In the east part of Hermosa Beach, sales prices increased through 2005, but have since leveled off through this year-to-date.
Average sales prices were abut $533 K back in 2001. They peaked at just over $1 M a few years ago and have been staying near this level. The number of homes sold increased through 2002, but then have dropped every year since. The number of homes selling now is one third of what it was back in 2002 when 84 single family homes were sold. Continue reading ‘Home Sales Trends For East Hermosa Beach’ »