If you are thinking of buying or selling a home in Santa Monica let’s take a look at homes for sale currently and sales over the 1st Qtr of 2018 to see where the market is.
Santa Monica consists of five zip codes, each demographically different, so we will look at them separately.
90401 – Downtown
Single Family
Sold: 0
Current inventory: 2 with an average price of $2,798,500. Buyers’ market
Condos
Sold: 2
Average price: $1,965,o00
Current inventory: 9 with an average price of $3,019,833. Stable market.
90402 – North of Montana
Single Family
Sold: 10
Median price: $5,037,500
Median price for 20178: $3,995,000
Current inventory: 19 with a median price of $6,399 ,000. Sellers’ market.
Condos
Sold: 7
Median price: $2,100,000
Median price for 2017: $2,133,750
Current inventory: 26 with a median price of $2,312,500. Buyers’ market.
90403 – North of Wilshire
Single Family
Sold: 3
Median price: $2,666,888
Median price for 2017: $2,574,564
Current inventory: 6 with a median price of $2,842,500. Sellers’ market
Condos
Sold: 38
Median price: $1,237,500
Median price for 2017: $1,220,000
Current inventory: 21 with a median price of $1,200,000. Sellers’ market
90404 – Mid- City, Sunset Park
Single Family
Sold: 2
Average price: $1,305,000
Current inventory: 2 with an average price of $1,224,500. Sellers’ market.
Condos
Sold: 21
Median price: $800,000
Median price for 2017: $935,000
Current inventory: 14 with a median price of $887,499. Sellers’ market.
90405 – Pico District, Ocean Park, Ocean Avenue
Single Family
Sold: 22
Median price: $1,907,500
Median price for 2017: $1,865,000
Current inventory: 18 with a median price of $2,622,500. Sellers’ market.
Sold: 17
Median price: $1,205,000
Median price for 2017: $1,020,000
Current inventory: 11 with a median price of $1,347,500. Sellers’ market.
Overall, Santa Monica real estate remains in a sellers’ market.
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