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Santa Monica Ocean Front Condos a Market Report May 2012

Posted by janepeters on May 19, 2012
| 0

Santa Monica ocean front condos are a highly desirable commodity, understandably since there is very little inventory.

Below is an overview of what has happened over the past 4 months in the more popular buildings:

Santa Monica Community, Santa Monica Homes for Sale

 

Building Sold Over 2011 Low Price High Price Median Price % of 2011 Active Pending Market
101 Ocean Ave 1  = N/A N/A $1,021,250  N/A 1 0
515 Ocean | Park Plaza  1 +1 N/A N/A $1,160,000 N/A 3 1
535 Ocean | Oceanaire 2  +1 $2,047,500 $10,500,000 $6,273,650 N/A 0 1
701 Ocean Ave 0  = N/A N/A N/A  N/A 0  0
801 Ocean | Pacifican 0 = N/A N/A  N/A N/A 0 0

All information provided by MLS/CLAW is deemed accurate but is not guaranteed.

Seller’s Market Buyers’ Market Stable Market
Less than 6 months inventory More than 6 months inventory

With the exception of Park Plaza, which has 3 units on the market, and only 1 sale over the past 4 months, the other buildings have buyers waiting for units to come on the market.  Santa Monica ocean front condos is definitely a sellers’ market.

And if you are looking at renting a Santa Monica ocean front condo:

101 Ocean has 1 unit for lease at $25,000 per month.

535 Ocean, The Oceanaire, has two units for lease, one at $5,195, and the other at 5,495 per month.

201 Ocean Ave, Ocean Towers, is a coop, one of the few in Los Angeles, so buying into it is a challenge.  However, there are 12 units currently for lease, the lowest at $3,300 for  a studio, and the highest at $10,500 for a 3-bedroom, per month.  Some of these units have spectacular views, many are furnished and the majority share a community laundry.

Santa Monica ocean front condos for sale and lease

 

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