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 | +/- | Active | Median | Pending |
| 3 | +3 | $3,520,000 | N/A | 1 | $4,495,000 | 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 |
| 29 | +16 | $3,250,000 | -7.14%% | 33 | $3,495,000 | 17 |
90403 – North of Wilshire, parts of Ocean Avenue (also including some of the luxury condo complexes),
| Sold | +/- | Median | +/- | Active | Median | Pending |
| 6 | -1 | $2.050,000 | +36.67% | 8 | $2,622,500 | 4 |
90404 – Mid-City and Sunset Park – a combination of residential and commercial buildings.
| Sold | +/- 2011 | Median | +/- | Active | Median | Pending |
| 4 | +2 | $837.000 | -16.92% | 2 | $1,174,500 | 3 |
90405 – Pico District and Ocean Park – also a combination of upscale residential and commercial buildings.
| Sold | +/- | Median | +/- | Active | Median | Pending |
| 31 | +12 | $1,308,000 | +0.62% | 6 | $1,997,000 | 13 |
Santa Monica Condos
90401
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 6 | +1 | $645,000 | +74.32% | 0 | N/A | 1 |
90402
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 11 | +2 | $1,475,000 | +13.46% | 11 | $2,185,000 | 4 |
90403
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 44 | +11 | $982,500 | +21.30% | 19 | $899.000 | 25 |
90404
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 31 | +11 | $617,500 | +19.32% | 9 | $749,000 | 15 |
90405
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 24 | +10 | $509,250 | +32.06% | 15 | $649,000 | 19 |
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
Homes for Sale in Santa Monica
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