Santa Monica Real Estate Market Update | February 2012

Let’s check out the Santa Monica real estate market so far this year. It is easier to break Santa Monica down into zip codes for price points.

As an overview, there were 225 Santa Monica single family homes sold over the past year at a median price of $1,500,000

Active listings: 58, at a median price of $1,499,500
Based on sales over the past 6 months, there is 3.55 months’ worth of inventory or absorption rate.*

For condos, there were 282 Santa Monica condos sold over the past year at a median price of $647,400
Active listings: 120, at median price of $797,000
Based on sales over the past 6 months, there is 4.77 months’ worth of inventory or absorption rate.*

This is how the above numbers break down by Santa Monica zip code:

90401

Single Family:
Sold: 2 - median price $1,875,000

Condos:
Sold: 9 – median price $531,000
Active Listings: 2 – median price $447,000
Absorption rate: 2.99 months

90402

Single family:
Sold: 86 – median price $2,352,500
Active listings: 23 – median price $3,145,000
Absorption rate: 3.21 months

Condos:
Sold: 16 – median price $1,025,000
Active listings: 23 – median price $1,250,000
Absorption rate: 8.61 months

90403

Single family:
Sold: 36 – median price $1,440,000
Active listings: 7 – median price $1,450,000
Absorption rate: 3.5 months

Condos:

Sold: 124 – median price $750,059
Active listings: 44 – median price $797,000
Absorption rate: 4.89 months

90404

Single family:
Sold: 8 – median price $595,500
Active listings: 7 – median price $899,000
Absorption rate: 21.21

Condos:
Sold: 72 – median price $505,000
Active listings: 20 – median price $489,000
Absorption rate: 3.87 months

90405

Single family:
Sold: 93 – median price $1,016,500
Active listings: 24 – median price $1,313,500
Absorption rate: 3.79 months

Condos:
Sold: 94 – median price $611,250
Active listings: 31 – median price $779,000
Absorption rate: 4.04 months

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

• Westwood Real Estate - Westwood single family homes, Westwood condominiums, Wilshire Corridor condominiums, Century City condominiums
• Brentwood Real Estate - Brentwood single family homes, Brentwood condominiums
• Santa Monica Real Estate - Santa Monica single family homes, Santa Monica condominiums
• Beverly Hills Real Estate - Beverly Hills single family homes, Beverly Hills condominiums
• Culver City Real Estate - Culver City homes
• Silver Lake Real Estate - Silver Lake single homes
  
• Echo Park Real Estate - Echo Park homes

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.

Read more: http://www.homejane.com/santa-monica-real-estate-update-january-2012.html#ixzz1lpMcgPqY