Let’s take a look at the Santa Monica real estate market. How did 2016 stack up compared with the previous year?
With five zip codes in Santa Monica it makes sense to break it down by each one, and also by property type.
90401
Condos (Downtown Santa Monica has very few single family homes)
Sold: 36 – a drop of 44 over 2015.
Median price: $1,800,000 = 2015.
Average days on market: 70 – a drop of 35 days.
Sold vs list price: 98.54% under 30 days. 92.86% over 120 days
90402
Single Family
Sold: 80 – a drop of 11 over 2015.
Median price: $3,778,667 – an increase of 6.44%.
Average days on the market: 58 – an increase of 15.
Sold vs list price: 100.54% under 30 days. 95.79% over 120 days.
Condos
Sold: 37 – 5 more than 2015.
Median price: $1,450,000 – 9.51% increase.
Average days on market: 72 – drop of 15 days over 2015.
Sold vs list price: 102.81% under 30 days. 94.95% over 120 days
90403
Single Family
Sold: 27 – an increase of 6 over 2015.
Median price: $2,800,000 – 21.08% increase.
Average days on market: 37 – basically the same.
Sold vs list price: 103.89% under 30 days. 97.11% over 120 days
Condos
Sold: 143 – a drop of 29 over 2015.
Median price: $1,200,000 – an increase of 11.63%.
Average days on market: 51 – an increase of 15 days.
Sold vs list price: 103.83% under 30 days. 96.11% over 120 days
90404
Single Family
Sold: 17 – 3 more than in 2015.
Median price: $1,200,000 – an increase of 8.99%.
Average days on the market: 50 – an increase of 3 days.
Sold vs list price: 104.57% under 30 days. (There do not appear to be any homes that stayed on the market over 120 days!).
Condos
Sold: 107 – 2 more than 2015.
Median price: $805,000 – an increase of 7.33%.
Average days on the market: 46 – a drop of 5 days.
Sold vs list price: 104.19% under 30 days. 101.67% over 120 days.
90405
Single Family
Sold: 105 – 2 less than 2015.
Median price: $1,750,000 – an increase of 3.24%.
Average days on the market: 46 an increase of 2 days.
Sold vs list price: 101.73% under 30 days. 98.10% over 120 days.
Condos
Sold: 86 – a drop of 17 over 2015.
Median price: $913,000 – an increase of 10%.
Average days on the market: 39 – basically the same.
Sold vs list price: 102.83 under 30 days. 89.70% over 120 days.
The Information provided by the MLS/CLAW deemed reliable but not guaranteed
Santa Monica real estate continues to have a shortage of inventory. The median price continues to rise at a steady rate. But the fact remains the same. Homes which are overpriced tend to sit on the market longer and ultimately end up selling for less than they would have if priced correctly.
Homes for sale in Santa Monica
- 594 S Mapleton Dr
- Los Angeles CA
- $137,500,000
- 14 Beds | 27 Baths | 56,500 SqFt
- 4 Acres
- 1210 Benedict Canyon Dr
- Beverly Hills CA
- $75,000,000
- 11 Beds | 20 Baths | 27,000 SqFt
- 2 Acres
- 9214 Nightingale Dr
- West Hollywood CA
- $63,000,000
- 5 Beds | 7 Baths | 13,870 SqFt
- 0 Acres
- 766 Paseo Miramar
- Pacific Palisades CA
- $54,000,000
- 7 Beds | 12 Baths | 18,372 SqFt
- 1 Acres
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).
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