Santa Monica Homes in an Extreme Sellers’ Market

Originally 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. 4 beds, 3 full, 1 part baths
    Home size: 3,400 sq ft
    Lot size: 7,493 sqft
    Days on market: 1
  2. 2 beds, 1 full bath
    Home size: 1,158 sq ft
    Lot size: 6,328 sqft
    Year built: 1926
    Days on market: 1
  3. 5 beds, 6 full baths
    Home size: 4,400 sq ft
    Lot size: 3,840 sqft
    Year built: 2009
    Days on market: 2
  4. 4 beds, 3 full baths
    Home size: 2,500 sq ft
    Lot size: 7,028 sqft
    Year built: 1940
    Parking spots: 2
    Days on market: 3
  5. 4 beds, 2 full baths
    Home size: 2,080 sq ft
    Lot size: 7,510 sqft
    Year built: 1923
    Days on market: 4
  6. 4 beds, 1 full bath
    Home size: 1,518 sq ft
    Lot size: 8,528 sqft
    Year built: 1940
    Days on market: 4
  7. 3 beds, 1 full, 1 part baths
    Home size: 1,355 sq ft
    Lot size: 6,007 sqft
    Year built: 1942
    Days on market: 5
  8. 5 beds, 4 full, 2 part baths
    Lot size: 19,484 sqft
    Year built: 1969
    Days on market: 5
  9. 3 beds, 1 full, 2 part baths
    Home size: 1,860 sq ft
    Lot size: 3,741 sqft
    Year built: 1948
    Days on market: 8
  10. 4 beds, 4 full, 1 part baths
    Home size: 4,264 sq ft
    Lot size: 7,016 sqft
    Year built: 2015
    Days on market: 10
  11. 6 beds, 2 full, 2 part baths
    Home size: 2,910 sq ft
    Lot size: 4,789 sqft
    Year built: 1915
    Parking spots: 4
    Days on market: 12
  12. 4 beds, 3 full, 1 part baths
    Home size: 4,047 sq ft
    Lot size: 12,302 sqft
    Year built: 1925
    Days on market: 13
  13. 3 beds, 1 full, 3 part baths
    Lot size: 6,870 sqft
    Year built: 1937
    Days on market: 16
  14. 4 beds, 2 full, 2 part baths
    Home size: 2,519 sq ft
    Lot size: 21,444 sqft
    Year built: 1913
    Days on market: 16
  15. 3 beds, 1 full bath
    Home size: 1,125 sq ft
    Lot size: 6,399 sqft
    Year built: 1947
    Days on market: 18

See all Santa Monica Homes for Sale.
(all data current as of 8/29/2015)

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

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.

(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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