Santa Monica Homes in an Extreme Sellers’ Market

Posted on December 26, 2012


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

  1. 5 beds, 4 full baths
    Home size: 3,328 sq ft
    Lot size: 10,749 sqft
    Year built: 1937
    Days on market: 1
  2. 4 beds, 2 full, 2 part baths
    Home size: 8,000 sq ft
    Lot size: 13,003 sqft
    Year built: 2011
    Days on market: 3
  3. 4 beds, 3 full, 1 part baths
    Home size: 4,500 sq ft
    Lot size: 6,501 sqft
    Year built: 2011
    Days on market: 3
  4. 4 beds, 2 full, 1 part baths
    Home size: 1,532 sq ft
    Lot size: 5,019 sqft
    Year built: 1951
    Days on market: 6
  5. 4 beds, 3 full, 2 part baths
    Home size: 4,829 sq ft
    Lot size: 12,759 sqft
    Year built: 1936
    Days on market: 6
  6. 4 beds, 5 full, 2 part baths
    Home size: 6,799 sq ft
    Lot size: 12,308 sqft
    Year built: 1991
    Days on market: 7
  7. 3 beds, 1 full, 1 part baths
    Home size: 1,556 sq ft
    Lot size: 8,059 sqft
    Year built: 1938
    Days on market: 7
  8. 6 beds, 4 full, 2 part baths
    Home size: 4,698 sq ft
    Lot size: 7,499 sqft
    Year built: 1989
    Days on market: 8
  9. 2 beds, 1 full bath
    Home size: 860 sq ft
    Lot size: 5,574 sqft
    Year built: 1940
    Days on market: 8
  10. 5 beds, 4 full baths
    Lot size: 7,504 sqft
    Year built: 2008
    Days on market: 10
  11. 4 beds, 4 full, 1 part baths
    Lot size: 8,973 sqft
    Year built: 1935
    Days on market: 10
  12. 4 beds, 4 full, 1 part baths
    Home size: 5,557 sq ft
    Lot size: 7,574 sqft
    Year built: 1988
    Days on market: 13
  13. 3 beds, 3 full, 1 part baths
    Home size: 3,373 sq ft
    Lot size: 6,004 sqft
    Year built: 1947
    Days on market: 13
  14. 4 beds, 3 full, 1 part baths
    Home size: 3,604 sq ft
    Lot size: 7,020 sqft
    Year built: 1949
    Days on market: 14
  15. 5 beds, 3 full, 3 part baths
    Home size: 5,382 sq ft
    Lot size: 9,627 sqft
    Year built: 2009
    Days on market: 14

See all Santa Monica Homes for Sale.
(all data current as of 7/2/2015)

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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