The traditionally slow South Bay holiday period has officially set in. There have been fewer new listings and opened escrows and we expect more of the same as Christmas and New Year’s grow near. One area of the market that is not following this trend is Hermosa Beach condos. The Sand Section, Valley, and East Hermosa are all experiencing high velocity sales. Hermosa Valley I dove into the Hermosa condo trend after attending a brokers open last week at The Moorings complex in south Hermosa. This new listing, unit #49, came to market asking $995,000. This would be the highest MLS sale ever in the 75-unit complex’s history by $45,000 and listing a week before Christmas.
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Month: December 2016
Sandwiched between Honeymoon Cove and Christmas Tree Cove in Lunada Bay is a small circular street off Paseo del Mar named Via Segovia. There are only 14 homes with a Via Segovia address, but I like to count 16 homes as two additional residences have more lot frontage on Via Segovia than their Paseo del Mar P.O. suggests. If you are a South Bay local but unfamiliar with the street, you can compare it to Rocky Point Road just a few miles north. Via Segovia Homes on the interior of Via Segovia offer nicely sized lots, and in most cases swimming pools and tennis courts. Advantages to these interior lots include a reprise from the “busy”
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While home buyers wait for housing prices to go down during the holidays, this week I’ll make a case for why there should be continued home growth throughout the South Bay. I’m not a professional economist or real estate statistician, but I do look at related industries that have historically impacted the local housing market in a positive manner. 1) Jobs 2) Local Commercial Development Jobs Jobs drive residential real estate. The Bay Area housing market is a prime example. Home values have been exploding over the past decade due to the growth of tech and higher paying jobs. As home buyers were priced out of Silicon Valley, real estate agents in Oakland and other surrounding areas began to see an
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