Santa Monica Homes for Sale 1st Qtr 2014 Market Report

Let’s see how the Santa Monica real estate market is doing with the shortage of inventory. How does the first quarter of 2014 compare to the same period in 2013?  Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately.

Santa Monica rea estate market 2nd Qtr 2013 in review

The percentage difference is over the same period in 2014.

Santa Monica single family

90401this is primarily a business district so you will see little or no activity here.

Sold +/- Median % +/- Active Median Pending
2 +2 $1,522,000 -N/A 1 $3,000,000 0

90402 - which includes the areas of Santa Monica Canyon, North of San Vicente, and North of Montana and the northern part of Ocean Avenue (which includes the luxury condo buildings).

Sold +/- Median % +/- Active Median Pending
12 -1 $3,702,500 +5.79 20 $3,797,000 12

90403 – North of Wilshire, parts of Ocean Avenue (also including some of the luxury condo complexes),

Sold +/- Median % +/- Active Median Pending
7 = $1,888,000 +25.87 6 $2,2492,500 3

90404 - Mid-City and Sunset Park – a combination of residential and commercial buildings.

Sold +/- Median % +/- Active Median Pending
2 = $888,750 -11.78 0 N/A 2

90405Pico District and Ocean Park – also a combination of upscale residential and commercial buildings.

Sold +/- Median % +/- Active Median Pending
13 -7 $1,400,000 +7.69 14 $1,599,000 15

 

Santa Monica Condos

90401*

Sold +/- Median % +/- Active Median Pending
2 -3 $900,500 N/A 25 $2,025,000 15

90402

Sold +/- Median % +/- Active Median Pending
10 +1 $1,468,750 +12.98 4 $2,949,000 10

90403

Sold +/- 2011 Median % +/- Active Median Pending
25 -8 $873,000 +7.78 15 $845.000 21

90404

Sold +/- 2011 Median % +/- Active Median Pending
18 -2 $607,250 +15.12 13 $649,000 20

90405

Sold % +/- Median % +/- Active Median Pending
23 +9 $590,000 +15.86 20 $624,000 17

 

Seller’s Market Stable Market Buyers’ Market
Less than 5 months inventory 5 to 7 months inventory More than 7 months inventory

All information provided by MLS/CLAW is deemed accurate but is not guaranteed.

* This reflects sales in the new development, The Waverly.

Not surprisingly, the median price is up across the board except for homes in 90404, but with only two sales to show this is a reflection of the types of homes sold.

There is still a severe shortage of inventory so we wait and see.

Santa Monica Real Estate 2013 in Review
Santa Monica Homes for Sale 3rd Qtr 2013 Market Report
Santa Monica Real Estate Market 2nd Qtr 2013 in Review
Santa Monica Real Estate Market 1st Quarter 2013 Reviewed
Santa Monica Homes for Sale the Market Trend
Santa Monica Real Estate the Year in Review

Homes for Sale in Santa Monica

For a free consult on your L.A. real estate needs, fill out the CONTACT FORM or call me at 310-473-6919

Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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