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Santa Monica Real Estate Market October 2012

Posted by janepeters on November 7, 2012
| 0

Let’s check in on Santa Monica real estate and see how it fared in October over the previous month.

Santa Monica Real Estate Market Update October 2012

Single Family Homes

 

Sold +/- Sept. Price Range

Total
Active

Price Range

New
Oct.
Pending
90401 0  =  N/A  5  $1.3000,000 to $5,999,999 0  0
90402 7  -7  $1,625,000 to $5,385,000 19 $1,459,000 to $18,750,000 4 16
90403 2  -1 $1,600,000 to $2,550,000 8 $1, 399,000 $3,725,000 3  9
90404 1  = $775,000 3 $650,000 to $989,000 1  3
90405 11  +2 $430,000 to $1,300,000  15 $259,000 to $1,895,000 1 20

With the exception of zip code 90401 (not surprisingly, since this is the Downtown Santa Monica area and less residential than the rest of the City) the  Santa Monica single family home market  favors Sellers.

Overall sales are down, but the inventory under contract, and hopefully selling this month or next is healthy.

 

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

 

Condos

 

Sold +/- Sept. Price Range

Total
Active

Price Range

New
Oct.
Pending
90401  0 =  N/A  5  $1.3000,000 to $5,999,999  0  0
90402  5 +2  $351,000 to  $3,900,000 20 $495,000 to $7,500,000  1 26
90403  13 -3 $405,000 to $1,250,000 28 $448,000 to $1,875,000  4 20
90404  7 -2 $305,000 to $990,000  14 $345,000 $1,395,000  5 18
90405  8  -3 $900,000 to $2,100,000 12 $849,000 to $2,750,000  2 19

 

With the exception of 90401 (Downtown) and 90402 (the expensive North of Montana neighborhood) the Santa Monica condo market favors sellers also.

Overall sales are down, but as with the single family market, there is a healthy pending inventory.

Santa Monica home sellers are still in great demand.

Homes for sale in Santa Monica

 

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