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 3/1/2015)

  1. 2 beds, 1 full, 2 part baths
    Home size: 1,511 sq ft
    Lot size: 6,764 sqft
    Year built: 1948
    Parking spots: 4
    Days on market: 3
  2. 3 beds, 1 full bath
    Lot size: 7,023 sqft
    Year built: 1952
    Parking spots: 3
    Days on market: 3
  3. 4 beds, 2 full, 2 part baths
    Home size: 2,128 sq ft
    Lot size: 5,998 sqft
    Year built: 1955
    Parking spots: 2
    Days on market: 3
  4. 4 beds, 3 full baths
    Home size: 2,319 sq ft
    Lot size: 7,886 sqft
    Year built: 1941
    Days on market: 4
  5. 3 beds, 1 full, 1 part baths
    Home size: 1,445 sq ft
    Lot size: 7,857 sqft
    Year built: 1936
    Days on market: 4
  6. 2 beds, 1 full bath
    Home size: 900 sq ft
    Lot size: 6,427 sqft
    Year built: 1950
    Parking spots: 2
    Days on market: 4
  7. 2 beds, 2 full baths
    Home size: 1,437 sq ft
    Lot size: 7,510 sqft
    Year built: 1938
    Days on market: 7
  8. 3 beds, 2 full baths
    Home size: 1,847 sq ft
    Lot size: 7,993 sqft
    Year built: 1926
    Parking spots: 4
    Days on market: 10
  9. 6 beds, 5 full baths
    Home size: 2,904 sq ft
    Lot size: 40,303 sqft
    Year built: 1937
    Days on market: 10
  10. 3 beds, 1 full bath
    Home size: 971 sq ft
    Lot size: 6,230 sqft
    Year built: 1949
    Parking spots: 4
    Days on market: 11
  11. 4 beds, 2 full, 2 part baths
    Home size: 2,282 sq ft
    Lot size: 8,534 sqft
    Year built: 1937
    Days on market: 11
  12. 5 beds, 5 full, 1 part baths
    Home size: 5,930 sq ft
    Lot size: 8,728 sqft
    Year built: 2009
    Days on market: 11
  13. 4 beds, 1 full, 3 part baths
    Home size: 2,901 sq ft
    Lot size: 16,998 sqft
    Year built: 1963
    Parking spots: 3
    Days on market: 12
  14. 5 beds, 7 full baths
    Home size: 5,035 sq ft
    Lot size: 8,931 sqft
    Year built: 2014
    Parking spots: 2
    Days on market: 12
  15. 4 beds, 2 full baths
    Home size: 2,250 sq ft
    Lot size: 6,742 sqft
    Year built: 1928
    Parking spots: 5
    Days on market: 14

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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