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. 5 beds, 3 full baths
    Home size: 3,330 sq ft
    Lot size: 5,460 sqft
    Year built: 1988
    Days on market: 0
  2. 3 beds, 1 full bath
    Home size: 962 sq ft
    Lot size: 5,000 sqft
    Year built: 1951
    Days on market: 3
  3. 2 beds, 1 full bath
    Home size: 1,132 sq ft
    Lot size: 5,632 sqft
    Year built: 1925
    Days on market: 4
  4. 4 beds, 2 full baths
    Home size: 2,553 sq ft
    Lot size: 7,007 sqft
    Year built: 1952
    Days on market: 5
  5. 5 beds, 4 full, 1 part baths
    Home size: 3,363 sq ft
    Lot size: 2,536 sqft
    Year built: 2008
    Parking spots: 8
    Days on market: 6
  6. 3 beds, 1 full bath
    Home size: 1,250 sq ft
    Lot size: 4,481 sqft
    Year built: 1941
    Days on market: 6
  7. 2 beds, 2 full baths
    Home size: 1,383 sq ft
    Lot size: 6,421 sqft
    Year built: 1911
    Days on market: 6
  8. 3 beds, 2 full baths
    Home size: 1,848 sq ft
    Lot size: 6,030 sqft
    Year built: 1959
    Parking spots: 2
    Days on market: 7
  9. 3 beds, 2 full, 1 part baths
    Home size: 1,885 sq ft
    Lot size: 6,433 sqft
    Year built: 1926
    Days on market: 7
  10. 2 beds, 2 full, 1 part baths
    Lot size: 9,475 sqft
    Year built: 1923
    Days on market: 11
  11. 3 beds, 2 full baths
    Home size: 2,457 sq ft
    Lot size: 9,474 sqft
    Year built: 1946
    Days on market: 12
  12. 5 beds, 5 full, 1 part baths
    Home size: 4,600 sq ft
    Lot size: 7,560 sqft
    Year built: 1999
    Parking spots: 5
    Days on market: 15
  13. 3 beds, 2 full baths
    Home size: 1,136 sq ft
    Lot size: 1,993 sqft
    Year built: 1946
    Days on market: 17
  14. 3 beds, 2 full baths
    Home size: 1,444 sq ft
    Lot size: 7,759 sqft
    Year built: 1927
    Days on market: 17
  15. 4 beds, 3 full baths
    Home size: 2,629 sq ft
    Lot size: 8,956 sqft
    Year built: 1930
    Parking spots: 4
    Days on market: 17

See all Santa Monica Homes for Sale.
(all data current as of 8/3/2015)

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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