Friday, January 25, 2008

Hermosa Beach Homes: Sold 2005-2007

Pier Plaza Hermosa Beach

Hermosa Beach is often thought of as Manhattan Beach's little sister.. still a little rowdy and perhaps a bit young to associate with the adults. However like all children...sometimes they grow up before you know what quite what happened. Hermosa Beach is growing up.. and doing a very nice job of it too! Even the LATimes is taking note with an article on East Hermosa ( area 150 on our chart). East Hermosa as pointed out by the Times has some charming homes... many with great views.

Gone are the days of the Bikers roaring through town on a weekend. There are still a lot of "young bars" but the rowdy dive bars are giving way to more sophisticated Tapas Bars and hot-spot restaurants. It won't be long until Hermosa becomes a trendier version of Manhattan Beach because of Pier Plaza. It's anyone's guess what will replace the Mermaid , Poop Deck and adjacent shops but you can bet it won't be a sports bar.

Here's another interesting tidbit. Hermosa has almost no NOD's.. notices of default being filed. Seems as if the young folk who have been buying in recent years continue to have good jobs and equally good financial sense.

Properties on The Strand in Hermosa are seeing some very hefty prices with tear downs in the north end approaching the $8 million level and new homes selling around $11,000,000. There is a lot of construction going on north of the pier. An agent in my office had a lovely home on Hermosa Ave listed near the $3 million mark.. it sold in a few days with multiple offers.

Townhomes in Hermosa Beach while taking a long time to sell are selling. In area 149.. Hermosa Valley more units sold in 2007 at higher prices then in 2005 or 2006. There have been 7 townhomes that have gone into escrow since January 1, 2008. That's 7 more then are in escrow in Manhattan Beach during the same period.

The elementary and intermediate schools in Hermosa are quickly catching up with those in Manhattan Beach and sport some excellent scores. High school students have a choice of attending Mira Costa or Redondo Union.

If you are finding Manhattan Beach too expensive then you might want to take another look at Hermosa Beach. Who just might find a great home and a great deal.

Hermosa Beach: Sold 2005-2007 (click on graph to enlarge)

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