Santa Monica Condo Sales, Comparing 2011 & 2012
You hear the news saying the market is upturning, Spring has come early for Santa Monica Real Estate. Looking at Santa Monica Home Sales, and comparing 2011 to 2012 below, home values in Santa Monica appear to be improving.
A few of the highlights are: Days on market have decreased and average sales price has increased for condo sales North of Wilshire. Condos North of Montana have saw an increase in numbers across the board, with an exception of a decrease in average days on market. Ocean Park, and Sunset Park also saw an increase in condos sold, price, and decrease in days on market.
What does this mean? Seller's are seeing prices go up, and are motivated to sell. The problem we are currently having is their are more buyer's than seller's. Santa Monica real estate is very competitive. It is important for seller's to understand competitive pricing, how their Realtor plans to present their home to the market. Home buyers in Santa Monica need to have a discussion with their Realtor and Loan Officer to discuss the $10,000 difference.
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