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 8/30/2014)

  1. 3 beds, 2 full baths
    Home size: 1,755 sq ft
    Lot size: 5,378 sqft
    Year built: 1924
    Days on market: 2
  2. 2 beds, 2 full baths
    Home size: 1,460 sq ft
    Lot size: 3,741 sqft
    Year built: 1948
    Days on market: 2
  3. 2 beds, 1 full bath
    Home size: 1,036 sq ft
    Lot size: 5,185 sqft
    Year built: 1940
    Days on market: 9
  4. 4 beds, 1 full, 2 part baths
    Home size: 3,249 sq ft
    Lot size: 7,556 sqft
    Year built: 1926
    Parking spots: 2
    Days on market: 9
  5. 4 beds, 4 full baths
    Home size: 3,253 sq ft
    Lot size: 8,277 sqft
    Year built: 2012
    Days on market: 9
  6. 4 beds, 3 full, 3 part baths
    Home size: 4,054 sq ft
    Lot size: 7,994 sqft
    Year built: 1923
    Parking spots: 6
    Days on market: 9
  7. 3 beds, 3 full baths
    Home size: 2,354 sq ft
    Lot size: 3,958 sqft
    Year built: 2006
    Days on market: 12
  8. 3 beds, 2 full baths
    Home size: 1,781 sq ft
    Lot size: 7,013 sqft
    Year built: 1944
    Days on market: 13
  9. 2 beds, 1 full bath
    Home size: 730 sq ft
    Lot size: 2,489 sqft
    Year built: 1953
    Parking spots: 4
    Days on market: 15
  10. 3 beds, 3 full baths
    Home size: 2,106 sq ft
    Lot size: 10,149 sqft
    Year built: 1959
    Days on market: 16
  11. 2 beds, 2 full baths
    Home size: 1,057 sq ft
    Lot size: 2,409 sqft
    Year built: 1910
    Days on market: 16
  12. 5 beds, 2 full, 5 part baths
    Home size: 4,130 sq ft
    Lot size: 7,492 sqft
    Parking spots: 2
    Days on market: 18
  13. 1 bed, 1 full bath
    Lot size: 6,250 sqft
    Year built: 1952
    Days on market: 25
  14. 5 beds, 7 full baths
    Home size: 5,859 sq ft
    Lot size: 7,507 sqft
    Year built: 2003
    Parking spots: 4
    Days on market: 26
  15. 2 beds, 2 full, 1 part baths
    Home size: 1,838 sq ft
    Lot size: 20,069 sqft
    Year built: 1957
    Parking spots: 1
    Days on market: 29

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.

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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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. That’s the market. It would be lovely to see a balanced one for a change.

  3. We’re experiencing the same thing in a few of our communities as well–so refreshing for sellers to finally be able to MOVE themselves AND their homes!

  4. It is, isn’t it, Debe.

  5. 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.

  6. I think that was a bit of an anomaly, but until more inventory comes on the market there is going to be more of it.

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Date last updated: 8/30/14 5:05 AM PDT

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