If you think it would take an amazing house to break the sales price record in an area where the median sales price of a home is over $1 million, you would be correct.
Although prices are up 13 percent above last year at this time, the sale of 1918 Manhattan Avenue on August 15th is one for the record books. It sold for $5,350,000 -- the highest price ever paid for an off-Strand home in Hermosa. We noted this property prioir to it hitting the market on our blog post, Sellers Testing The Upper End.
To put this sale in perspective, consider that the typical off-Strand homes in the sand section are currently listed at prices in line with the recent sales prices mentioned above.
Hermosa Beach Strand Homes: Comparable Sales
Then, compare the home to those available on The Strand. There are currently three single family homes on the market on The Strand in Hermosa and they are priced at $4,999,900, $6,300,000 and $6,700,000. This home’s price fits right in with Strand homes.
There are a couple of interesting facts about this transaction, aside from the huge sales price. First, it was listed on July 13th and went under contract three days later. Since the average amount of time that a Hermosa Beach homes remains on the market is over 106 days, selling in three days is quite remarkable.
1918 Manhattan Ave Hermosa Beach, CA
Multi-million dollar prices in Hermosa are typically attached to Strand homes. The home at 1918 Manhattan, however, is located at 19th Street and Manhattan Avenue, on the opposite side of Hermosa Avenue and several blocks from The Strand.
A tri-level modern home, 1918 Manhattan Avenue is amazing, containing 5,400 square feet of living space and sitting on a double lot.
It features five bedrooms, five bathrooms, an exercise studio, a theater room and incredible hardwood floors. An elevator, three fireplaces, a rooftop deck and parking for 11 cars are some additional amenities that no doubt added to the home’s appeal and value.
Matt Pernice is a market expert in The Hermosa Beach and surround beach areas. Contact him today for more information about other sales in the area or if you are interested in purchasing a home in Hermosa Beach.