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By Jane Peters | Agent in Los Angeles, CA
  • Santa Monica Homes for Sale 1st Qtr 2014 Market Report

    Posted Under: Home Buying in Santa Monica, Home Selling in Santa Monica  |  April 8, 2014 11:17 AM  |  360 views  |  No comments

    Let’s see how the Santa Monica real estate market is doing with the shortage of inventory. How does the first quarter of 2014 compare to the same period in 2013?  Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately.

    Santa Monica homes for sale

    The percentage difference is over the same period in 2014.

    Santa Monica single family

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

    Sold +/- Median % +/- Active Median Pending
    2 +2 $1,522,000 -N/A 1 $3,000,000 0

    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 +/- Median % +/- Active Median Pending
    12 -1 $3,702,500 +5.79 20 $3,797,000 12

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

    Sold +/- Median % +/- Active Median Pending
    7 = $1,888,000 +25.87 6 $2,2492,500 3

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

    Sold +/- Median % +/- Active Median Pending
    2 = $888,750 -11.78 0 N/A 2

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

    Sold +/- Median % +/- Active Median Pending
    13 -7 $1,400,000 +7.69 14 $1,599,000 15

    Santa Monica Condos

    90401*

    Sold +/- Median % +/- Active Median Pending
    2 -3 $900,500 N/A 25 $2,025,000 15

    90402

    Sold +/- Median % +/- Active Median Pending
    10 +1 $1,468,750 +12.98 4 $2,949,000 10

    90403

    Sold +/- 2011 Median % +/- Active Median Pending
    25 -8 $873,000 +7.78 15 $845.000 21

    90404

    Sold +/- 2011 Median % +/- Active Median Pending
    18 -2 $607,250 +15.12 13 $649,000 20

    90405

    Sold % +/- Median % +/- Active Median Pending
    23 +9 $590,000 +15.86 20 $624,000 17

    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.

    * This reflects sales in the new development, The Waverly.

    Not surprisingly, the median price is up across the board except for homes in 90404, but with only two sales to show this is a reflection of the types of homes sold.

    There is still a severe shortage of inventory so we wait and see.

    Santa Monica Real Estate 2013 in Review
    Santa Monica Homes for Sale 3rd Qtr 2013 Market Report
    Santa Monica Real Estate Market 2nd Qtr 2013 in Review
    Santa Monica Real Estate Market 1st Quarter 2013 Reviewed
    Santa Monica Homes for Sale the Market Trend
    Santa Monica Real Estate the Year in Review

    Homes for Sale in Santa Monica

  • Santa Monica Real Estate Market Report, 3rd Qtr 2013

    Posted Under: Home Buying in Santa Monica, Home Selling in Santa Monica  |  October 8, 2013 4:31 PM  |  211 views  |  No comments

    Let’s check on on the Santa Monica real estate market.  How does the Third Quarter of 2013 compare to the Second Quarter.   Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately.  The difference is over the previous quarter.

    Santa Monica real estate market report

    Santa Monica single family

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

    Sold+/-Median+/-ActiveMedianPending
    1-2$4,350,000N/A2$42,897,0000

    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+/-Median+/-ActiveMedianPending
    44+15$3,116,500-4.11%%31$3,899,00015

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

    Sold+/-Median+/-ActiveMedianPending
    11+5$2.000,000-2.44%3$3,300,0005

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

    Sold+/- 2011Median+/-ActiveMedianPending
    4=$1,202,063+43.62%2$719,5004

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

    Sold+/-Median+/-ActiveMedianPending
    37+6$1,308,000+6.65%7$2,105,75021

     

    Santa Monica Condos

    90401

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    2-4$675,000+4.65%1$750,0001

    90402

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    10-1$1,527,000+3.53%11$1,600,0005

    90403

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    70+26$937,500-4.58%23$945.00021

    90404

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    38+7$685,000+10.93%17$629,00010

    90405

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    35+11$675,000+32.55%17$699,00015

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

    For Santa Monica single family home sales were up in the 3rd Qtr over the 2nd Qtr, except in 90401 where they were down ,and 90404 where they stayed the same. Short term median comparisons don’t reflect the market accurately.

    Santa Monica condo sales were quite healthy compared with the 2nd Qtr with median prices up overall.

    There are total of 45 houses listed for sale with 146 sold over the past 6 months and 35 under contract.

    There are 155 condos listed for sale with 242 sold over the past 6 months and 52 under contract.

    Inventory has improved over the past three months but Santa Monica real estate remains a sellers’ market.

    Santa Monica Real Estate Market 2nd Quarter 2013 in Review

    Santa Monica Real Estate Market 1st Quarter 2013 Reviewed

    Santa Monica Homes for Sale the Market Trend

    Santa Monica Real Estate the Year in Review

     
    For a free consult on your L.A. real estate needs, fill out the CONTACT FORM or call me at 310-473-6919


    Read more: http://www.homejane.com/santa-monica-homes-for-sale-3rd-qtr-2013-market-report.html#ixzz2hAxeiRys
  • Santa Monica Ocean Front Condos for Sale

    Posted Under: Home Buying in Santa Monica, Home Selling in Santa Monica  |  August 5, 2013 2:12 PM  |  372 views  |  No comments

    If you are looking to buy a Santa Monica ocean front condo, unfortunately it is a strong sellers’ market.

    Below is a review of the past six months’ activity:

    Santa Monica Ocean Front Condos for Sale

    Sold:  23
    Median Price:  $1,450,000
    Active Listings:  13
    Median Price:  $1,995,000
    Under Contract:  9

    The main activity has been at The Sea Colony a resort-style complex across the street from Santa Monica beach:

    Sold:  6
    Median Price:  $1,088,000
    Active Listings:  0
    Under Contract:  5

    201 Ocean Avenue, which is a coop building with the challenges associated with buying in it :

    Sold:  5
    Median Price:  $1,415,000
    Active Listings: 8
    Median Price:  $1,275,000
    Under Contract:  4

    535 Ocean Avenue - The Oceanaire

     Sold:  0
    Active Listings:  2
    Median Price:  $2,395,000
    Under Contract:  0

    101 Ocean Avenue 

    Sold:  2
    Median Price:  $3,810,500
    Active Listings:  1
    Price:  $3,395,000
    Under Contract:  0

    515 Ocean Avenue - Park Plaza

    Sold:  4
    $1,580,000
    Active Listings:  0
    Under Contract:  0

    603 Ocean Avenue

    Sold:  1
    Price:  $4,295,000
    Active Listings:  1
    Price:  $4,495,000

    757 Ocean Avenue

    Sold:  3
    Median Price:  $594,000
    Active Listings:  1
    Price:  $479,000
    Under Contract:  0

    833 Ocean Avenue

    Sold:  1
    Price:  $1,565,000
    Active Listings:  0
    Under Contract:  0

    As you can see, the inventory for Santa Monica ocean front condos is severely limited with a total of only 13 active listings on the market.  There are also only 36 rental units on the market with a median price of $7,095 per month.

    We continue to anxiously await owners of ocean front units to put their homes on the market.  They certainly are going to sell, and quickly.

    Santa Monica Condos for Sale

    For a free consult on your L.A. real estate needs, fill out the CONTACT FORM or call me at 310-473-6919


    Read more: http://www.homejane.com/santa-monica-ocean-front-condos-market-update.html#ixzz2b8BFMEBG
  • Santa Monica Real Estate Market Report, 2nd Qtr 2013

    Posted Under: Home Buying in Santa Monica, Home Selling in Santa Monica  |  July 2, 2013 2:54 PM  |  398 views  |  2 comments

    And another three months has flown by, time to check in on the Santa Monica real estate market.  How does the second quarter of 2013 compare to the first quarter.   Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately.  The difference is over the previous quarter.

    Santa Monica single family

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

    Sold+/-Median+/-ActiveMedianPending
    3+3$3,520,000N/A1$4,495,0000

    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+/-Median+/-ActiveMedianPending
    29+16$3,250,000-7.14%%33$3,495,00017

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

    Sold+/-Median+/-ActiveMedianPending
    6-1$2.050,000+36.67%8$2,622,5004

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

    Sold+/- 2011Median+/-ActiveMedianPending
    4+2$837.000-16.92%21,174,5003

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

    Sold+/-Median+/-ActiveMedianPending
    31+12$1,308,000+0.62%6$1,997,00013

     

    Santa Monica Condos

    90401

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    6+1$645,000+74.32%0N/A1

    90402

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    11+2$1,475,000+13.46%11$2,185,0004

    90403

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    44+11$982,500+21.30%19$899.00025

    90404

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    31+11$617500+19.32%9$749,00015

    90405

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    24+10$509,250+32.06%15$649,00019

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

    With the exception of houses in 90403, sales were up briskly in the second quarter vs the first.  In the Santa Monica condo market the median price was up overall, although short term comparisons don’t reflect the market accurately.

    There a total of 50 houses listed for sale with 116 sold over the past 6 months and 37 under contract.

    There are 54 condos listed for sale with 200 sold over the past 6 months and 64 under contract.

    The severe shortage of inventory continues.

    With interest rates already up 1% over the past month, Santa Monica home sellers should not wait to put those homes on the market before the buyer pool starts to dwindle.

    Santa Monica Real Estate Market 1st Quarter 2013 Reviewed

    Santa Monica Homes for Sale the Market Trend

    Santa Monica Real Estate the Year in Review

    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 call me at 310-473-6919


    Read more: http://www.homejane.com/santa-monica-real-estate-market-2nd-quarter-2013-in-review.html#ixzz2XvYSjBwO
  • Santa Monica Real Estate Market Report, May 2013

    Posted Under: Home Buying in Santa Monica, Home Selling in Santa Monica  |  June 3, 2013 2:55 PM  |  357 views  |  1 comment

    With all the talk about rising homes prices and shortage of inventory, it is time to check on the Santa Monica real estate market performance for May 2013.

    Santa Monica real estate market report, May 2013

    Is the inventory up, median prices up?  Let’s take a look.

    April 2013


    Sold+/- MarchMedianActive+/- MarchNew+/- MarchPending+/- March
    Single Family18+3$2,527,50042+55.90%20+1330+21
    Condo40-1$621,25043-5.87%20+1331+17

     

    May 2013


    Sold+/- AprilActiveMedian+/- AprilNew+/- AprilPending+/- April
    Single Family27+946$1,620,000-35.90%16-446+16
    Condo39-145$780,000+25.55%20+858+27

    Information provided by MLS/CLAW deemed reliable but not guaranteed

    The number of new single family homes coming on the market in Santa Monica in May dropped by 4 over April, but new condos rose by 8.  The median price of new single family homes dropped by 36%  and for condos it rose by 26%.

    The number of pending homes rose significantly in both categories.

    The number of sold homes was up for single family and slightly down for condos.

    The comparison with April 2013 still shows a need for new inventory, especially in the single family home market.

    Previous Santa Monica real estate market reports

    Santa Monica Real Estate.  What’s New?

    Santa Monica Real Estate, 1st Quarter 2013 Reviewed

    Santa Monica Homes for Sale the Market Trend

    Santa Monica Real Estate the Year in Review

    Homes for sale in Santa Monica

    For a free consult on your Los Angeles real estate needs, fill out the CONTACT FORM or call me at 310-473-6919


    Read more: http://www.homejane.com/santa-monica-real-estate-market-report-may-2013.html#ixzz2VBz7ft1A
  • Santa Monica Real Estate, First Quarter 2013 Market Report

    Posted Under: Home Buying in Santa Monica, Home Selling in Santa Monica  |  April 4, 2013 11:16 AM  |  306 views  |  1 comment

    Amazingly we are already into the second quarter of 2013.  Let’s take a look at how the Santa Monica real estate market did in the first quarter compare it to the last quarter of 2012.  Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately.

    Santa Monica single family

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

    Sold+/-Median+/-ActiveMedianPending
    0= N/AN/A2$4,122,5001

    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+/-Median+/-ActiveMedianPending
    13 -21$3,500,000+24.16%20$4,345,00014

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

    Sold+/-Median+/-ActiveMedianPending
    7-5$1,500,000-6.54% 4$1,987,0002

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

    Sold+/- 2011Median+/-ActiveMedianPending
     2-3$1,007,500+30.00%1$699,0005

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

    Sold+/-Median+/-ActiveMedianPending
     19-12$1,300,000 +13.047%10$1,347,00015

     

    Seller’s MarketStable MarketBuyers’ Market
    Less than 5 months inventory5 to 7 months inventoryMore than 7 months inventory

    Santa Monica Condos

    90401

    Sold+/- 2011Median+/- 2011ActiveMedianPending
     5= $370,000-46.30%2$789,0004

    90402 

    Sold+/- 2011Median+/- 2011ActiveMedianPending
     9-9$1,300,000+4:00%10$1,645,00010

     90403 

    Sold+/- 2011Median+/- 2011ActiveMedianPending
     33-8$810,000+11.72%12$956,5004

    90404 

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    20-6$527,500-2.22%7$699,00019

    90405 

    Sold+/- 2011Median+/- 2011ActiveMedianPending
    14-19$509,250-22.85%4$724,50015

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

    The percentage difference reflected is compared to the last quarter of 2012, and it is clear that Santa Monica home sales were down in the first quarter of 2013 in comparison.

    Overall, the median price was up, except in a few cases, but that is a result of the lower priced properties selling off.

    There is a tremendous shortage of inventory which is creating a unhealthy housing market in Santa Monica, as in most Los Angeles areas.

    Previous Market Reports

    Santa Monica Homes for Sale the Market Trend

    Santa Monica Real Estate the Year in Review

    Homes for Sale in Santa Monica

    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 call me at 310-473-6919


    Read more: http://www.homejane.com/santa-monica-real-estate-market-1st-quarter-2013-reviewed.html#ixzz2PWF7n1A9
  • Santa Monica Real Estate Market Trend Over 2012

    Posted Under: Home Buying in Santa Monica, Home Selling in Santa Monica  |  February 22, 2013 12:59 PM  |  338 views  |  2 comments

    Let’s see the trend for Santa Monica homes for sale over the past year.  Inventory is low, that we know, but how is the median price, how low is the inventory, where was the peak?

    Single family homes

    13 homes sold in January, up 2 over the January 2012.  This was the most sales per month in a year.

    There were 22 properties under contract in January, up 2 over the previous January.   The highest month was October.

    Number of homes for sale in January was 64, a 40% drop from the previous January, December and January having the lowest inventory for the year.

    The numer of new homes on the market in January was pretty much the average for the year at 30.  Not surprisingly, December was the low with 9.

    The median sold price, $2,300,000, was up 26% and the median for sale price was up 13%.

    Overall the months supply of inventory dropped 58%.

    Santa Monica homes market trend over 2012

    Santa Monica condos for sale

    14 homes sold in January, the same number as in January 2012.  Both were the lowest monthly sales for the year.

    There were 19 properties under contract in January, down 2 over the previous January, and the lowest figure for the year.   The highest month was March.

    Number of condos for sale in January was 64, a 40% drop from the previous January, December and January having the lowest inventory for the year.

    The numer of new condos on the market in January a 25% drop of the previous year .  Again, not surprisingly, December was the low with 8.

    The median sold price was down 32% and the median for sale price was up 18%.

    Overall the months supply of inventory dropped 48%.

    Santa Monica condo market trend over 2012

    It can’t be stated enough.  the Santa Monica real estate market needs some healthy new inventory.  Prices are up for single family homes, so it is an excellent time for anyone thinking of selling their home in the area.

    Homes for sale in Santa Monica

    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.



    Read more: http://www.homejane.com/santa-monica-market-homes-for-sale-the-market-trend.html#ixzz2Lf9E22Aw
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