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.
The percentage difference is over the same period in 2014.
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 |
| 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 |
90405 – Pico 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.
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