What's My Santa Monica Home Worth? How is the Market?

What’s my Santa Monica home worth is probably on the top of your mind if you intend to sell. If you are thinking of buying a home in Santa Monica you will want to know how the market is. So let’s take a look.

Since even in Santa Monica each area varies in price we will break it down by zip code through the 3rd Qtr. 2016

90401

Single Family (This area is the commercial section of Santa Monica, so single family homes are rare).
Sold: 1 at $6,665,000.
Currently Active: 0

Condo
Sold: 28 at a median price of $1,937,500 – a drop of 37 sales but a 15.64% rise over the same period last year.
Low price $465,000. High price $7,750,000
Currently Active: 9 at a median price of $1,699,000.

90402

Single Family
Sold: 61 at a median price of $3,790,000 – a drop of 5 sales but a 9.06% increase over the same period last year.
Low price $1,575,000. High price $11,000,000
Currently Active: 28 at a median price of $4,465,000

Condo
Sold: 26 at a median price of $1,042,500 – an increase of 4 sales but a 33% drop over the same period last year.
Low price $575,000. High price $4,350,000
Currently Active: 17 at a median price of $2,400,000.

90403

Single Family
Sold: 24 at a median price of $2,910,000 – an increase of 5 sales and 25.84% over the previous year.
Low price $1,855,000. High price $4,618,000.
Currently Active: 6 at a median price of $2,572,000.

Condo
Sold: 105 at a median price of $1,170,000 – a drop of 31 sales but an 11.43% increase over the previous year.
Low price $567,250. High price $2,840,000.
Currently Active: 35 at a median price of $1,289,000.

90404

Single Family
Sold: 20 at a median price of $1,202,500 – and increase of 8 sales and 9.22% over the same period last year.
Low price $500,o00. High price $1,184,464.
Currently Active: 6 at a median price of $1,570,000.

Condo
Sold: 88 at a median price of $799,499 – an increase of 3 sales and 6.60% over the same period last year.
Low price $359,500. High price $1,415,000.
Currently Active: 7 at a median price of $649,000.

90405

Single Family
Sold: 79 at a median price of $1,755,000 – a drop of 7 sales but an increase of 3.99% over the same period last year.
Low price $950,000. High price $5,075,000.
Currently Active 12 at a median price of $1,772,000.

Condo
Sold: 65 at a median price of $905,000 – a drop of 17 sales but an increase of 6.53% over the same period last year.
Low price $375,000. High price $2,525,000.
Currently Active: 20 at a median price of $1,549,000.

Information taken from the MLS/CLAW deemed reliable but not guaranteed
Overall, the median sold price continues to rise in the Santa Monica real estate market except for condos in the 90402 zip code, where there is a lower concentration of them.

Sales are mostly down or flat with a significant drop in condo sales in zip codes 90401 and 90403.

Now is a good time to consider selling your Santa Monica home. Buyers are looking.