Santa Monica Real Estate 2013 in Review

Let’s see how Santa Monica real estate fared in 2013 as compared to the previous year. Due to the difference in demographics the report is split by Santa Monica zip code.

Santa Monica homes for sale market report

90401this is primarily a business district so you will see little or no activity here.

Sold +/- 2012 Median +/- 2012 Active Median Pending
3 +1 $3,520,000 -0.49% 2 $1,672,500 2

90402 - which includes the areas of Santa Monica Canyon, North of San Vicente, and North of Montana and the northern part of Ocean Avenue (which includes the luxury condo buildings).

Sold +/- 2012 Median +/- 2012 Active Median Pending
101 -18 $3,000,000 +8.11% 21 $3,999,000 7

90403 – North of Wilshire, parts of Ocean Avenue (also including some of the luxury condo complexes),

Sold +/- 2012 Median +/- 2012 Active Median Pending
28 -6 $1,985,000 +23.68% 3 $1,995,000 3

90404 - Mid-City and Sunset Park – a combination of residential and commercial buildings.

Sold +/- 2012 Median +/- 2012 Active Median Pending
16 +2 $845,000 +31.52% 1 $949,000 1

90405Pico District and Ocean Park – also a combination of upscale residential and commercial buildings.

Sold +/- 2012 Median +/- 2012 Active Median Pending
106 +3 $1,326,500 +30.05% 7 $1,365,000 7

 

Seller’s Market Stable Market Buyers’ Market
Less than 5 months inventory 5 to 7 months inventory More than 7 months inventory

Santa Monica Condos

90401

Sold +/- 2012 Median +/- 2012 Active Median Pending
14 -2 $607,500 +2.97% 19 $2,120,000 2

The significant increase in median for sale price is due to the new construction, The Waverly, at 1705 Ocean Avenue.

90402

Sold +/- 2012 Median +/- 2012 Active Median Pending
36 -15 $1,250,000 +8.70% 8 $2,297,500 6

The increase in median for sale price is due to newer Santa Monica ocean front properties on the market.

90403

Sold +/- 2012 Median +/- 2012 Active Median Pending
180 -5 $869,000 +13.59% 12 $902,000 8

90404

Sold +/- 2012 Median +/- 2012 Active Median Pending
112 +8 $645,500 +33.23% 12 $669,000 5

90405

Sold +/- 2012 Median +/- 2012 Active Median Pending
93 -21 $664,500 -0.68% 13 $829,400 6

 

Seller’s Market Stable Market Buyers’ Market
Less than 5 months inventory 5 to 7 months inventory More than 7 months inventory

All information provided by MLS/CLAW is deemed accurate but is not guaranteed.

Santa Monica real estate continues to be an extreme sellers’ market. In all instances except 90401, not surprisingly because this is primarily a commercial district.

Sales are down because of low inventory, but the overall median price is up.

Inventory is still extremely low with only 34 single family homes and 64 condos available for purchase. So if you are thinking of selling your Santa Monica home your home is sorely needed.

Homes for Sale in Santa Monica

For a free consult on your L.A. real estate needs, fill out the CONTACT FORM or call me 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. Looks like the market is certainly moving in the right direction for you, Jane! Best of luck in 2014 with your business.

  2. Thank you, and the same to you.

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