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 1/24/2015)

  1. 4 beds, 4 full baths
    Home size: 4,233 sq ft
    Lot size: 15,431 sqft
    Year built: 1965
    Days on market: 2
  2. 3 beds, 3 full baths
    Home size: 1,920 sq ft
    Lot size: 11,049 sqft
    Year built: 1941
    Parking spots: 6
    Days on market: 3
  3. 3 beds, 2 full baths
    Home size: 2,000 sq ft
    Lot size: 7,507 sqft
    Year built: 1923
    Parking spots: 2
    Days on market: 5
  4. 2 beds, 1 full, 1 part baths
    Home size: 1,238 sq ft
    Lot size: 8,009 sqft
    Year built: 1926
    Days on market: 6
  5. 4 beds, 3 full baths
    Home size: 2,897 sq ft
    Lot size: 8,213 sqft
    Year built: 1947
    Days on market: 9
  6. 3 beds, 2 full baths
    Home size: 1,756 sq ft
    Lot size: 7,020 sqft
    Year built: 1941
    Parking spots: 2
    Days on market: 10
  7. 6 beds, 5 full, 3 part baths
    Home size: 7,424 sq ft
    Lot size: 8,952 sqft
    Year built: 2001
    Parking spots: 2
    Days on market: 11
  8. 3 beds, 2 full baths
    Home size: 1,709 sq ft
    Lot size: 6,408 sqft
    Year built: 1950
    Parking spots: 4
    Days on market: 11
  9. 5 beds, 3 full, 1 part baths
    Home size: 3,223 sq ft
    Lot size: 17,281 sqft
    Year built: 1924
    Days on market: 14
  10. 4 beds, 2 full, 1 part baths
    Home size: 3,171 sq ft
    Lot size: 9,822 sqft
    Year built: 1953
    Parking spots: 2
    Days on market: 17
  11. 5 beds, 2 full, 5 part baths
    Home size: 4,578 sq ft
    Lot size: 7,482 sqft
    Parking spots: 2
    Days on market: 19
  12. 5 beds, 2 full, 5 part baths
    Home size: 5,035 sq ft
    Lot size: 8,931 sqft
    Year built: 1936
    Parking spots: 2
    Days on market: 19
  13. 3 beds, 2 full baths
    Home size: 2,063 sq ft
    Lot size: 7,300 sqft
    Year built: 1944
    Parking spots: 4
    Days on market: 19
  14. 5 beds, 4 full, 1 part baths
    Home size: 3,747 sq ft
    Lot size: 7,002 sqft
    Year built: 2014
    Days on market: 23
  15. 2 beds, 2 full baths
    Home size: 2,354 sq ft
    Lot size: 7,007 sqft
    Year built: 1936
    Parking spots: 2
    Days on market: 39

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

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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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