Santa Monica California Real Estate Market Reality

Santa Monica California Real Estate Market Reality

The Santa Monica California real estate market continues to remain strong.

 Here is my latest analysis of Santa Monica real estate:

 Single Family Homes in Santa Monica 

• July 2010 sales total: 23
• Current Pending Sales: 48
• Active Listings: 114

Distressed Single Family Property Watch in Santa Monica, CA:

There are 2 single family home Bank-Owned/REOs for sale in Santa Monica

There are 3 single family Short Sales for sale in Santa Monica

This represents that 4.5% of the Santa Monica single family home real estate market is distressed properties for sale.

Active Single Family Homes for Sale in Santa Monica by price range:

Under $1,000,000: 21

$1,000,000 - $1,500,000: 27

$1,500,000 - $3,000,000: 37

$3,000,000 + : 27

Single Family real estate sales (July 2010) in Santa Monica by price range:

• Under $1,000,000: 8
• $1,000,000 - $1,500,000: 4
• $1,500,000 - $3,000,000: 10
• $3,000,000 +: 1

Burn rate is approximately 3-5 months, and varies by price range.

Condominiums in Santa Monica

• July 2010 sales total: 46
• Current Pending Sales: 65
• Active Listings: 197

Distressed Condominium Property Watch in Santa Monica, CA:

There are 9 Condominium Bank-Owned/REOs for sale in Santa Monica

There are 13 Condominium Short Sales for sale in Santa Monica

This represents that 11% of the Santa Monica condominium real estate market is distressed properties for sale.

Active Condominiums for Sale in Santa Monica by price range:

Under $500,000: 44

$500,000-$750,000: 59

$750,000-$1,000,000: 43

$1,000,000 + : 48

Condominium real estate sales (July 2010) in Santa Monica by price range:

• Under $500,000: 8
• $500,000-$750,000: 13
• $750,000-$1,000,000: 11
• $1,000,000 +: 14

Burn rate is approximately 4-5.5 months, and varies by price range.

If you are interested in a detailed analysis of any other Westside Los Angeles real estate market besides the Santa Monica real estate market, don’t hesitate to call me at: 310-487-0099.

Curious about how this compares to the National Real Estate Market? Check out this great video.

This article was originally published at http://www.danaehrlich.com/blog/santa-monica-california-real-estate-market-reality.html