Is Hermosa Beach, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Hermosa Beach has remained a Seller's Market.
Key Takeaway
Hermosa Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hermosa Beach, CA
How much do homes in Hermosa Beach, CA cost?
Median Sold Price
$2,240,000
$1,202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hermosa Beach have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Hermosa Beach was $2,240,000 in May 2024, up 5.9% from last year, and the median price per square foot was $1,202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $720K | $750K | +4.2% |
| 2 Bedrooms | $1.3M | $1.4M | +6.3% |
| 3 Bedrooms | $2.1M | $2.2M | +3.0% |
| 4 Bedrooms | $3.0M | $2.8M | -5.3% |
| 5+ Bedrooms | $4.4M | $4.9M | +11.4% |
Summary: Hermosa Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 11.4%.
Median Sold Price Compared To Nearby Cities
| Hermosa Beach | $2.1M | $2.2M | +5.9% |
| Redondo Beach | $1.4M | $1.4M | +2.1% |
| South Bay Cities | $1.7M | $1.7M | 0% |
| Manhattan Beach | $3.1M | $2.8M | -10.9% |
Housing Supply in Hermosa Beach, CA
How many homes are available in Hermosa Beach, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 61 | 54 | -11.5% |
Summary: The Hermosa Beach real estate market had 54 homes for sale in May 2024, a 11.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 20 | 15 | -25.0% |
| 5+ Bedrooms | 14 | 14 | 0.0% |
Summary: The Hermosa Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 13 | -35.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hermosa Beach, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Hermosa Beach in May 2024, down by 35.0% month-over-month. Of the 13 sold homes, 15% were sold under asking, 31% were sold at asking, and 54% were sold over asking.
Days on Market for Hermosa Beach, CA
How long does it take to sell a home in Hermosa Beach, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 89 Days | 18 Days | -79.1% |
Summary: Homes in Hermosa Beach had an average of 18 days on market in May 2024, down by 79.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Hermosa Beach are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Hermosa Beach; 85% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.