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The Hermosa Beach Strand Report 2019 Year In Review

by Dan O'Connor

2019 was a lot like 2018 with only 6 properties selling on the Hermosa Beach Strand. That number is down from 2017 when we had 10 sales total.
In 2019, we had 2 new home sales- both speculative developments that took a very long time to sell and we also had a couple “land value” sales w. The trend we continue to see is sellers pricing homes too high and they sit and sit on the market until they either don’t sell at all, or they do sell but for substantially less than what they started at. The Strand market is more exaggerated- properties will stay sitting on the market longer if not priced right, buyers are pickier about what they want to buy (because they can be), and sellers think their property is worth more than it really is (lots of examples of that). In conclusion, The Strand market is deceivingly healthy- things are selling, but only if they are priced right. I think that baring a substantial economical event (which may or may not be coming), things will continue to chug along.

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