Santa Monica Homes in an Extreme Sellers’ Market

It is not just the moderately-priced homes for sale in Los Angeles that encourage multiple offers and over-asking sale prices.

There is a home which just sold in Santa Monica.  It is in a prime, desirable area, but a 40s house in original condition, just over 2,000 sq. ft. on a just under 9,000 sq. ft. lot.

Santa Monica in an extreme seller's market

Listed at $2.275M

On the market for 20 days

Sold for $3,000.000

$750,000 OVER ASKING!
13 sold over asking with an average sales vs list price of 106%, excluding the property above. Average days on the market 22.Over the past month there have been 30 single family homes sold in Santa Monica.

The rest sold with an average sales vs list price of 94.98% with average days on the market 81.

All 30 show a sales vs list price of 100.37% and an average of 54 days on the market.

There are presently 33 homes under contract and 33 listed on the market.

Santa Monica homeowners, if you ever thought of selling, now is as good a time as any.

 

Santa Monica home sales over the past year

Homes for sale in Santa Monica

See all Santa Monica Homes for Sale.
(all data current as of 4/21/2015)

  1. 2 beds, 1 full bath
    Home size: 884 sq ft
    Lot size: 7,495 sqft
    Year built: 1923
    Parking spots: 4
    Days on market: 0
  2. 2 beds, 1 full bath
    Home size: 1,302 sq ft
    Lot size: 9,593 sqft
    Year built: 1950
    Days on market: 1
  3. 2 beds, 2 full baths
    Lot size: 5,136 sqft
    Year built: 1995
    Days on market: 1
  4. 6 beds, 7 full, 3 part baths
    Home size: 8,578 sq ft
    Lot size: 14,461 sqft
    Year built: 2009
    Parking spots: 6
    Days on market: 4
  5. 4 beds, 5 full baths
    Home size: 4,370 sq ft
    Lot size: 3,339 sqft
    Year built: 1915
    Days on market: 4
  6. 5 beds, 5 full, 1 part baths
    Home size: 3,498 sq ft
    Lot size: 7,006 sqft
    Year built: 2008
    Days on market: 5
  7. 4 beds, 4 full, 1 part baths
    Home size: 3,200 sq ft
    Lot size: 6,855 sqft
    Year built: 2015
    Days on market: 5
  8. 3 beds, 2 full baths
    Home size: 1,671 sq ft
    Lot size: 6,487 sqft
    Year built: 1941
    Days on market: 5
  9. 2 beds, 1 full bath
    Home size: 918 sq ft
    Lot size: 6,887 sqft
    Year built: 1941
    Days on market: 5
  10. 5 beds, 5 full baths
    Home size: 3,577 sq ft
    Lot size: 7,623 sqft
    Year built: 2015
    Days on market: 8
  11. 2 beds, 2 full baths
    Lot size: 5,952 sqft
    Year built: 1946
    Days on market: 8
  12. 4 beds, 2 full baths
    Home size: 2,315 sq ft
    Lot size: 6,003 sqft
    Year built: 1942
    Days on market: 11
  13. 4 beds, 4 full, 1 part baths
    Home size: 3,600 sq ft
    Lot size: 6,835 sqft
    Year built: 2015
    Days on market: 13
  14. 3 beds, 2 full baths
    Home size: 1,392 sq ft
    Lot size: 2,002 sqft
    Year built: 1908
    Days on market: 13
  15. 12 beds, 12 full, 1 part baths
    Home size: 14,000 sq ft
    Lot size: 3.35 ac
    Year built: 1932
    Parking spots: 12
    Days on market: 15

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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(6) Comments

  1. Now this is more like it. I love when buyers have to fight over houses like a pack of dogs on bone. Santa Monica is beautiful, and I understand why you might pay a premium price for homes. What I don’t understand is where these buyers were last year.

  2. Wow, $750,000 over list? That’s incredible. I’m glad the LA real estate market is coming back so strong, but like you, I would prefer to see a nicely balanced marketplace for awhile rather than quickly escalating home sales prices that are not sustainable.

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