Is Hermosa Beach, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hermosa Beach is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Hermosa Beach was a Neutral 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

$2,275,000

$1,200/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$149,850(+7.1%)

Key Takeaway

Homes in Hermosa Beach have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Hermosa Beach was $2,275,000 in February 2024, up 7.1% from last year, and the median price per square foot was $1,200.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $720K$750K
+4.2%
2 $1.3M$1.4M
+4.3%
3 $2.1M$2.0M
-3.3%
4 $3.1M$2.7M
-11.3%
5+ $4.3M$4.9M
+12.0%

Summary: Hermosa Beach housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 4.3%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes increased by 12%.

Median Sold Price Compared To Nearby Cities

Hermosa Beach
+7.1%
Redondo Beach
-0.8%
South Bay Cities
-1.9%
Manhattan Beach
-9.3%

Housing Supply in Hermosa Beach, CA

How many homes are available in Hermosa Beach, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5451-5.6%

Summary: The Hermosa Beach real estate market had 51 homes for sale in February 2024, a 5.6% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 21
-50.0%
2 88
0.0%
3 1616
0.0%
4 2017
-15.0%
5+ 89
+12.5%

Summary: The Hermosa Beach housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 15%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
10100.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hermosa Beach, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Hermosa Beach in February 2024, the same as the previous month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% 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

Feb 2023Feb 2024CHANGE
22 Days56 Days+148.9%

Summary: Homes in Hermosa Beach had an average of 56 days on market in Feb 2024, up by 148.9% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Hermosa Beach has remained consistent over time.

Summary: During February 2024, 10 homes were sold in Hermosa Beach; 30% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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