Read What is Going On in Santa Monica, California with regard to Real Estate.
Santa Monica is a beautiful and wonderful community to live in. Subsequently, it has seen significant appreciation in the last several years. This has resulted in a strong market for the City.
Currently, there are more Buyers looking while the inventory is starting to increase. This makes for a better climate for buyers.
Santa Monica stats as of Monday, July 7, 2008:
active Single Family Home listings = 110
ranging from $429,000 to $15,999,000
average list price = $2,585,976
average square footage = 2,618
average price-per-square-foot = $1,021.69
average days-on-the-market = 67
active Condo / Townhome listings = 168
ranging from $305,000 to $6,995,000
average list price = $1,020,934
average square footage = 1,397.04
average price-per-square = $746.99
average days on-the-market = 68
There are tremendous opportunities for Buyers in Santa Monica, moreso than in the past as the inventory has increased.
The inventory has continued to increase in the last few months while the average "Days on the Market" has also increased significantly.
The rising interest rates play a factor in all this as well. The anticipation of higher rates is prompting many Sellers to sell now, and is prompting many Buyers to buy now. It is even better news because the interest rates seem to have stabilized. It is important to remember however that interest rates are still historically low and therefore a good time for Real Estate.
Ginny McGonigle
http://westsidehomefinders.com
<!--[if !supportLineBreakNewLine]-->
<!--[endif]-->
Comments(0)