The luxury homes along the coast in Manhattan Beach, Hermosa Beach, South Redondo and the Palos Verdes Peninsula have held up very well over the last year. Homes on the Strand in Manhattan Beach and Hermosa Beach have increased in value. Teardowns along The Strand are now well over $5-9 million depending on location and lot size. Homes in the Manhattan Beach Hill section on larger lots with views have also seen prices shoot up. New homes are commanding prices well above the levels of 2005 for premium locations with views.