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.
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
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
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
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.