Santa Monica Homes for Sale 2014 Market Report

Let’s check in on the Santa Monica real estate market and see how each zip code performed compared to 2013.

90401this is primarily a business district so you will see little or no activity here, and the median price bears no weight.

Sold +/- 2012 High/Low +/- 2012 Active High/Low Pending
2 -1 $2.375M/$669K -56.76% 2 $5.650M/$4.450M 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 +/- 2012 Median +/- 2012 Active Median Pending
95 -6 $3,353,500 +11.78% 14 $5,237,000 4

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

Sold +/- 2012 Median +/- 2012 Active Median Pending
31 +3 $2,110,000 +6.30% 1 $2,147,500 2

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

Sold +/- 2012 Median +/- 2012 Active Median Pending
13 -3 $908,500 +7.51% 2 $1,470,000 3

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

Sold +/- 2012 Median +/- 2012 Active Median Pending
107 +1 $1,411,000 +6.37% 9 $1,559,000 8

 

Seller’s Market Stable Market Buyers’ Market
Less than 5 months inventory 5 to 7 months inventory More than 7 months inventory

Santa Monica Condos

90401

Sold +/- 2012 Median +/- 2012 Active Median Pending
92 +78 $1,675,000 +175.72% 26 $2,087,500 6

The significant increase is due to the sales activity in the two new Related luxury developments, The Waverly and Seychelle.

90402

Sold +/- 2012 Median +/- 2012 Active Median Pending
36 = $1,722,500 +37.80% 12 $1,695,000 1

The increase in median for sale price is due to newer Santa Monica ocean front properties on the market.

90403

Sold +/- 2012 Median +/- 2012 Active Median Pending
144 -36 $926,000 +6.56% 16 $804,000 11

90404

Sold +/- 2012 Median +/- 2012 Active Median Pending
111 -1 $695,000 +7.67% 12 $539,500 8

90405

Sold +/- 2012 Median +/- 2012 Active Median Pending
106 +13 $774,250 +12.00% 9 $799,000 12

 

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.

Santa Monica real estate continues to be have an extreme shortage of inventory.

Inventory is still extremely low with only 28 single family homes and 75 condos available for purchase. Santa Monica home sellers. With mortgage rates still at record lows and home prices high, now is as good as time as any to put your home on the market.

Previous Santa Monica real estate market reports

Homes for Sale in Santa Monica

 

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