Major Price Reductions the Norm for Beachfront Homes on The Strand

The beachfront homes of the Hermosa and Manhattan Beach Strand are some of the most valuable properties in all of the South Bay.  This is a very exclusive location and lot values generally start around $6,000,000 and escalate quickly dependent on the location.  As many of the homes for sale are luxury properties they can reach prices of $20,000,000+.  This is very rarified air with a very limited buyer pool so it’s not overly surprising that many of the homes sit unsold for a very long time.  Some for years.  What’s a bit surprising is that sellers don’t seem to want to believe this is the case and home after home hits the market at a price that doesn’t seem to be supported.

We took a look at the most recent activity and of the most recent homes for sale 15 of the 18 homes had major price reductions.  Almost all went on and off the market several times and several were originally listed in 2016 or 2017.  See the chart below with the homes that have had at least one major price reduction showing the current price in red.

The Strand beachfront homes in Manhattan and Hermosa Beach

Status Type  
Address
City Current or Sold Price Previous Price Original List Price Original List Date
Active SFR 3808
The Strand
MANH $15,500,000 $16,650,000 $16,650,000 9/30/2019
Active SFR 2722
The Strand
MANH $22,750,000 $19,995,000 $28,500,000 10/19/2015
Active SFR/D 4117
The Strand 
MANH $5,999,000 $6,500,000 $6,900,000 6/28/2016
Active SFR/D 4122
The Strand   
MANH $6,700,000 $7,200,000 $8,200,000 6/28/2016
Active SFR/D 3400
The Strand   
MANH $15,900,000 $16,750,000 $19,300,000 7/12/2018
Active DPLX/D 1804
The Strand   
MANH $18,500,000 $21,000,000 4/18/2016
Active SFR/D 1000
The Strand   
MANH $25,900,000
Active TPLX/A 528
The Strand   
HMB $6,499,999
Active SFR/D 2330
The Strand   
HMB $9,999,999 $10,500,000 1/30/2020
Active SFR/D 212
The Strand   
HMB $9,999,999 $10,500,000 $12,900,000 8/15/2017
Active SFR/D 2426
The Strand   
HMB $15,295,000 $19,250,000 6/9/2019
Active SFR 3001
The Strand
HMB $16,900,000 $18,950,000 $22,900,000 4/13/2016
Pending SFR 1534
The Strand   
HMB $9,999,000 $10,779,000 $11,900,000 6/6/19
Pending SFR/D 2304
The Strand   
MANH $7,950,000 $8,250,000 $9,950,000 1/18/2019
Pending SFR/D 614
The Strand   
MANH $13,000,000 $15,300,000 10/20/2016
Sold SFR/D 3212
The Strand   
MANH $8,525,000 $8,999,000 6/12/2019
Sold SFR/D 22
The Strand   
HMB $5,610,000 $5,990,000 $7,895,000 1/20/2018
Sold SFR/D 2120
The Strand   
HMB $9,200,000 $9,950,000 $10,200,000 5/9/2019