Santa Monica Real Estate | Market Report January 2013

A month of the new year has already gone.  How is the Santa Monica real estate market doing?  Let’s compare January statistics to December’s.  Are sales looking up?  How are the prices?

Santa Monica real estate market report 2013

Single Family Homes

 

Zip Code Sold +/- Dec. Price Range Median +/- Dec

Total
Active

Median Price Range

New
Jan.
Pending
90401 0 =  N/A N/A N/A  2 $4,235,000 2 0
90402 4 -16  $2,359.650 to $3,970,000 $3,250,000 +22.55% 14 $6,172,500 4 7
90403 3 = $1,500,000 to $3,650,000 $2,300,000 -5.15% 4 $2,985,000 1  4
90404 3 -10 $267,000 to $420,000 $330,000 -34% 8 $662,000 6 10
90405 3 -8 $260,000 to $565,000 $459,000 +-3.34% 12 $637,000 4 8

Leaving aside zip code 90401, a commercial neighborhood in the City, Santa Monica continues to be a sellers’ market.  Sales are down significantly over December,  with only 13 homes sold, probably attributable to the lack of new inventory.

There are a total of 22 homes currently under contract and 17 new homes listed in January.

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

 

Condos

 

Zip Code Sold +/- Dec. Price Range Median +/- Dec.

Total
Active

Median

New
Jan..
Pending
90401 2 -1  317,500 to $325,000 $321,350 -34.52% 4 $607,000  2 2
90402 1 -6 $1,200,000 N/A N/A 14 $1,516,500 6 6
90403 8 -10 $447,000 to $1,567,170 $842,000 +3.04% 20 $889,500 13 14
90404 3 -13 $267,000 to $420,000 $330,000 -30.75% 8 $662,000 6 16
90405  4  -7 $260,000 to $858,000 $512,000 -22.31% 12 $637,000 4 7

 

Information provided by the MLS/CLAW deemed reliable but not guarantee

As with the single family market Santa Monica condo sales were way down in January compared with December.  However, there are 45 units under contract, and  31 new units came on the market this month.  February is shaping up to be a good month for Santa Monica real estate.

Previous Market Reports

Santa Monica Real Estate The Year in Review
Santa Monica November Real Estate Market Report

Santa Monica Real Estate Market Report for October 2012

Homes for sale in Santa Monica

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call 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.

More Posts - Website - Twitter - Facebook - LinkedIn - Pinterest - Google Plus - YouTube

Add Comment Register



Speak Your Mind

*