Hermosa Strand... old and new


After a very slow first half of the year Hermosa saw the number of home and townhome sales almost double in the second half of 2009.  There were 64 homes and 53 townhomes that closed escrow from July-December 2009.    Hermosa hasn't seen that many 3rd and 4th quarter sales since 2005. 

The Hermosa Beach real estate market has been a bit different then the other Beach Cities.  Prices continued  on the high side  for most of the year and inventory didn't move.  Most sellers were not lowering prices and   properties would  re-list over and over at the same price.  After July  changes in the real estate market forced sellers to adjust prices as more short sales and REO's began to sell at prices well under where competing properties were listed.   Units in the Moorings are a good example of how changes in the market  forced many sellers to rethink their pricing strategy. 


Hermosa has a number of Strand properties on the market.  There are currently 7 Strand homes for sale in Hermosa. Prices range from just under $4,000,000 to almost $16,000,000.   Over the last year 4 have closed escrow and 2 are pending.  While asking prices are similar to those in Manhattan Beach the final sold prices this year have been  lower then the prices on similar homes in Manhattan Beach.    This will be an interesting segment of the market to watch as some pricey new homes hit the market.


Hermosa Beach, like Manhattan Beach has little in the way single family homes that are new construction .  While there is  new construction most of the new homes have been built by private parties and are not going on the market.  There are few homes available that were built after 2006  which means that buyers will have to either build themselves  if they want new or buy an older home that has been extensively remodeled.  Even the townhome market is not seeing much in the way of new construction other then the project on 21st street. 


As the new year opens there are 48 homes and 32 townhomes/condos for sale.  There are 20 homes and 19 townhomes in escrow.  As of February 15, 2010 18 homes and 7 townhomes have closed escrow.  It's  looking like a better year for home sales in Hermosa Beach.


Hermosa Beach:  Sold July-December 2000-2009(click on graph to enlarge)


















Hermosa Beach: Sand Sold July-December 2000-2009














 

 

Hermosa Beach:  Valley Sold July-December 2000-2009

Hermosa Beach: Hills Sold July-December 2000-2009

Hermosa Beach: Sold January-June 2000-2009

Hermosa Beach Strand....



Hermosa Beach has always been the younger version of Manhattan Beach... a little more casual and a tad more non-conformist then its sister city to the north. But like all younger siblings Hermosa is beginning to grow up...


New construction in the north end along The Strand and many walkstreets is rivaling prices in Manhattan Beach. The Hermosa Valley is home to some very pricey homes on large lots. This quiet area is a "locals knowledge" area similar to the "estate sized lots" just east of Sepulveda in Manhattan Beach. The Hermosa Hills east of PCH are also seeing older homes being torn down to make way for larger homes often with some fabulous views.

Much of Hermosa is made up of non-conforming zoning with townhomes next door to single family homes or small income properties. Hermosa has managed to retain more of the older beach cottages then Manhattan which makes for some quaint and charming walk street homes.

While the volume of sales is down by a large percentage...the overall median price of homes in Hermosa has not declined... but has in fact gone up every year since 2000. The reason is some hefty sale prices along The Strand, in the Sand section and in the Hermosa Valley. In the Hermosa Hills, east of PCH, we see a different story. Not only are sales down but prices are closer to 2003 levels.

As with Manhattan Beach one of the looming issues is the lack of comps for some of the higher priced properties. With only 32 home and 28 townhome/condo sales in all of Hermosa from January-June you can expect some real issues with appraisals in the coming months.

Hermosa Beach: Sold January-June 2000-2009(click on graph to enlarge)

Hermosa Beach: Sand January-June 2000-2009

Hermosa Beach: Hermosa Valley January -June 2000-2009 

Hermosa Beach: Hermosa Hills January-June 2000-2009

 Pier Plaza

 Take a Tour of beautiful Hermosa Beach 

 Hermosa means beautiful in Spanish and this little beach town certainly fits the description.  Hermosa is often thought of as the little sister to her more upscale neighbor to the north Manhattan Beach.  Hermosa is a younger version of Manhattan Beach with its quaint downtown and trendy Pier Plaza night life. 

Some of the fun things not to miss in Hermosa Beach are the Saint Patrick's Day Parade held in March.  Hermosa also is home to a number of special sports Events.. check the Hermosa Beach City Calendar for dates.  You can see some of the best pro- volleyball on the beach at Pier Ave.>

Fiesta Hermosa inaugurates the beginning of summer over Memorial Day Week-end and  says farewell at the end of summer over Labor Day Week-end.The event hosts local artists as well as others.  There is a food court and a games area for the kids..I always find fun and unique items for gifts.

Don't forget the Farmer's Market every Friday at Valley and 11th Street.

One of the highlights of Hermosa Beach is The Hermosa Beach Playhouse located in the Civic Center Auditorium on Pier Avenue.  There is always something fun going on so don't miss out. Season tickets are a bargain.

While Huntington Beach and Santa Cruz fight over the term Surf City USA.. Hermosa and surfing is where it all came together and is the official birthplace of surfing in California... think Greg Noll, Hap Jacobs, Dewey Weber and Body Glove.   These are the pioneers in surf boards and wet suits.  The Hermosa Pier has the Surfers Walk of Fame...The seven charter Surfers Walk of Fame Members are: Bing Copland, Hap Jacobs, Greg Noll, Mike Purpus, Jeff Stoner, Dale Velzy and Dewey Weber (1969 National Surfing Champion).

 Hermosa is the only city with a condo-hotel.  The Beach House is unique to the South Bay. It is possible to actually buy a unit which is operated as a room in the hotel.  For those who like the idea of having a beach retreat and making income at the same time this concept is ideal.  You can occupy the unit for 89 days of the year and still use it as an income property for the rest of the time.   The Beach House was the ideal solution facing the city for the Biltmore Site.  At one time  there was a resort hotel originally called the Surf and Sand Beach club when it was built in 1926 then renamed the Biltmore sometime around the early 1940's.  The old hotel operated for many years until it was damaged by an earthquake and the price of repairing it far outweighed the value.   For almost 30 years the city  tried to figure out what to do with the beach front propertyuntil finally a compromise was reached with much of the land being retained as a park and the rest turned into a parking structure and the Beach House Hotel.

Hermosa Beach almost didn't get started. The vote to incorporate was passed by one vote.. 24 to 23. The close vote could have been because when the Hermosa Land and Water gave the city the deed to the land there was a clause that no liquor could be sold in the city. This lasted until prohibition was voted out. 

Officially Hermosa is the smallest of the Beach Cities with 1.3 square miles of land. The 2000 census puts the population at approximately 19,435 with slightly more males then females. The average household income is about $100,755.   60% of the population are homeowners and 40% are renters.  However that figure may be changing as more and more renters are deciding to stay in the city and are buying homes.  Townhomes are a popular choice for many who live in the city as they are less expensive then single family homes.

Hermosa Beach is divided into three main areas...

 Hermosa Beach School District:

Hermosa has its own elementary and intermediate schools..

Hermosa View is located on Prospect and  is for grades K-2

Hermosa Valley on Valley Drive  has classes for 2-8.

Hermosa Beach does not have a high school but gives students the option of attending either Mira Costa in Manhattan Beach or Redondo Union in Redondo Beach.

Library

 The Hermosa Beach Library is located off Valley Drive next to City Hall.

City of Hermosa Beach

MEETINGS:
City Council: Second and fourth Tuesday at 7:10 PM
Planning Commission: Third Tuesday at 7:00PM
Public Works: Third Wednesday at 7:00 PM
Parks and Recreation: First Tuesday at 7:00 PM
School District Board of Trustees: Second Wednesday 1645 Valley Drive