Santa Monica Real Estate Market November 2012

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

Total
Active

Price Range

New
Oct.
Pending
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

 

Condos

 

Sold +/- Oct. Price Range

Total
Active

Price Range

New
Oct.
Pending
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.

Santa Monica real estate market report for October 2012

Homes for sale in Santa Monica

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