Santa Monica Real Estate Market October 2012

Let’s check in on Santa Monica real estate and see how it fared in October over the previous month.

Single Family Homes

	Sold	+/- Sept.	Price Range	Total Active	Price Range	New Oct.	Pending
90401	0	=	N/A	5	$1.3000,000 to $5,999,999	0	0
90402	7	-7	$1,625,000 to $5,385,000	19	$1,459,000 to $18,750,000	4	16
90403	2	-1	$1,600,000 to $2,550,000	8	$1, 399,000 $3,725,000	3	9
90404	1	=	$775,000	3	$650,000 to $989,000	1	3
90405	11	+2	$430,000 to $1,300,000	15	$259,000 to $1,895,000	1	20

With the exception of zip code 90401 (not surprisingly, since this is the Downtown Santa Monica area and less residential than the rest of the City) the  Santa Monica single family home market  favors Sellers.

Overall sales are down, but the inventory under contract, and hopefully selling this month or next is healthy.

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

Condos

	Sold	+/- Sept.	Price Range	Total Active	Price Range	New Oct.	Pending
90401	0	=	N/A	5	$1.3000,000 to $5,999,999	0	0
90402	5	+2	$351,000 to  $3,900,000	20	$495,000 to $7,500,000	1	26
90403	13	-3	$405,000 to $1,250,000	28	$448,000 to $1,875,000	4	20
90404	7	-2	$305,000 to $990,000	14	$345,000 $1,395,000	5	18
90405	8	-3	$900,000 to $2,100,000	12	$849,000 to $2,750,000	2	19

With the exception of 90401 (Downtown) and 90402 (the expensive North of Montana neighborhood) the Santa Monica condo market favors sellers also.

Overall sales are down, but as with the single family market, there is a healthy pending inventory.

Santa Monica home sellers are still in great demand.

Homes for sale in Santa Monica

Buying or Selling Los Angeles Real Estate

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