Real Estate in Santa Monica. Half-Year Market Report

We are now over halfway through 2011.  Doesn’t time fly.  So let’s take a look how real estate in Santa Monica has fared over the second quarter.

As usual, real estate in Santa Monica is local, so it will be broken down by zip code.

Approximate Santa Monica Zip Code Borders

90401 =  Wilshire to Pico, the ocean to 12th St – higher density of condos and apartments

90402 = Montana to Rustic Canyon, the ocean to 26th St. – higher density of single family and higher-priced homes

90403 = Wilshire to Montana, the ocean to S. Carmelina – higher density of condos and apartments

90404 = Wilshire to Pico, 4th to S. Centinela – condo-single family mix

90405 = Pico to Ocean, the ocean to S. Centinela – mix of higher-priced homes and condos

Real estate in Santa Monica has shown a slight improvement in sales of single family homes in 90404 over the past 3 months, and the monthly inventory has come down considerably.

90405 inventory has gone up slightly, but the average sales price is up.

Overall, the Santa Monica real estate market for single family homes remains steady and is predominantly a sellers’ market.

Except for 90404, the Santa Monica condo market is seeing less inventory, and except for 90401,  it is a healthy sellers’ market.

 

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