Let’s check in on Santa Monica real estate and look at November 2012 trends compared with the previous month
Single Family Homes
|Sold||+/- Oct.||Price Range||
|90401||0||=||N/A||4||$1.3000,000 to $4,495,000||0||0|
|90402||9||+2||$1,650,000 to $5,300,000||18||$1,200,000 to $7,500,000||6||17|
|90403||7||+5||$1,210,000 to $2,570,000||7||$1,429,000 $3,675,000||2||6|
|90404||2||+1||$860,000 to $900,000||1||$989,000||0||4|
|90405||14||+3||$810,000 to $2,875,000||12||$825,000 to $2,875,000||1||17|
With the exception of zip code 90401 (Downtown Santa Monica area and less residential than the rest of the City) the Santa Monica single family home market continues to favor Sellers.
Sales are up over October. There are healthy pending sales which should bode well for December. However, inventory remains extremely low.
The absorption rate below is based on the past 6 months sales trend
|Seller’s Market||Stable Market||Buyers’ Market|
|Less than 5 months inventory||5 to 7 months inventory||More than 7 months inventory|
|Sold||+/- Oct.||Price Range||
|90401||2||+2||$689,000 to $765,000||4||$335,000 to $605,000||3||2|
|90402||6||+1||$436,000 to $1,625,000||16||$46,000 to $7,500,000||3||6|
|90403||8||-5||$357,000 to $1,162,000||25||$439,000 to $1,819,000||8||19|
|90404||5||-2||$259,000 to $910,000||12||$445,000 $1,395,000||3||19|
|90405||10||+2||$359,000 to $1,250,000||12||$259,000 to $1,895,000||2||17|
Information provided by the MLS/CLAW deemed reliable but not guaranteed
The Santa Monica condo market favors sellers.
Sales are steady, and as with the single family market, there is a healthy pending inventory.
Inventory also continues to be extremely low.
Buying or Selling Los Angeles Real Estate
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