Santa Monica Homes for Sale. How is the 3rd Qtr 2014 Market?

How did the Santa Monica real estate market do over the 3rd Quarter of 2014.  Did we see more inventory come on the market? How is the median price now?

Let’s take a look.  The percentage difference is over the previous Quarter.

Santa Monica single family

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

Sold +/- Median % +/- Active Median Pending
0 = $1,522,000** -N/A 3 $3,950,000 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 +3 $3,144,375 -10.56 21 $3,765,000 12

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

Sold +/- Median % +/- Active Median Pending
8 -1 $2,389,000 +10.54 3 $2,869,000 2

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

Sold +/- Median % +/- Active Median Pending
4 +1 $972,500 +4.57 4 $1,022,500 5

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

Sold +/- Median % +/- Active Median Pending
37 +10 $1,350,000 -3.57 17 $1,950,000 13

 

Santa Monica Condos

90401*

Sold +/- Median % +/- Active Median Pending
38 +16 $1,525,000 -11.59 39 $1,995,000 13

90402

Sold +/- Median % +/- Active Median Pending
7 -4 $1,575,000 +5.35 11 $2,995,000 3

90403

Sold +/- 2011 Median % +/- Active Median Pending
29 +4 $927,000 +0.54 18 $974,000 20

90404

Sold +/- 2011 Median % +/- Active Median Pending
34 +1 $721,100 = 18 $737,500 11

90405*

Sold % +/- Median % +/- Active Median Pending
29 +1 $909,000 +15.58 14 $746,500 10

 

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.

*Both the new condo developments, the Waverly and Seychelle, have started to sell their units at 1705 and 1755 Ocean Avenue which affects the median price.

For Santa Monica real estate overall, the 3rd Quarter:

Showed a drop in median price. September was down 16.74% over June.
There was an in the number of sales in July by 4, but September and June show the same number of sales at 24 each.
The number of new properties coming on the market was down by in September over June by 4 for a total of 32.
The average number of days on the market was 42 in September, down by 9 over June.

Santa Monica continues to be a very strong market for home sellers.

Previous Santa Monica real estate market reports

Homes for Sale in Santa Monica

 

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