Amazingly we are already into the second quarter of 2013. Let’s take a look at how the Santa Monica real estate market did in the first quarter compare it to the last quarter of 2012. Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately.
Santa Monica single family
90401 - this is primarily a business district so you will see little or no activity here.
| Sold | +/- | Median | +/- | Active | Median | Pending |
| 0 | = | N/A | N/A | 2 | $4,122,500 | 1 |
90402 - which includes the areas of Santa Monica Canyon, North of San Vicente, and North of Montana and the northern part of Ocean Avenue (which includes the luxury condo buildings).
| Sold | +/- | Median | +/- | Active | Median | Pending |
| 13 | -21 | $3,500,000 | +24.16% | 20 | $4,345,000 | 14 |
90403 – North of Wilshire, parts of Ocean Avenue (also including some of the luxury condo complexes),
| Sold | +/- | Median | +/- | Active | Median | Pending |
| 7 | -5 | $1,500,000 | -6.54% | 4 | $1,987,000 | 2 |
90404 - Mid-City and Sunset Park – a combination of residential and commercial buildings.
| Sold | +/- 2011 | Median | +/- | Active | Median | Pending |
| 2 | -3 | $1,007,500 | +30.00% | 1 | $699,000 | 5 |
90405 - Pico District and Ocean Park – also a combination of upscale residential and commercial buildings.
| Sold | +/- | Median | +/- | Active | Median | Pending |
| 19 | -12 | $1,300,000 | +13.047% | 10 | $1,347,000 | 15 |
| Seller’s Market | Stable Market | Buyers’ Market |
| Less than 5 months inventory | 5 to 7 months inventory | More than 7 months inventory |
Santa Monica Condos
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 5 | = | $370,000 | -46.30% | 2 | $789,000 | 4 |
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 9 | -9 | $1,300,000 | +4:00% | 10 | $1,645,000 | 10 |
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 33 | -8 | $810,000 | +11.72% | 12 | $956,500 | 4 |
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 20 | -6 | $527,500 | -2.22% | 7 | $699,000 | 19 |
| Sold | +/- 2011 | Median | +/- 2011 | Active | Median | Pending |
| 14 | -19 | $509,250 | -22.85% | 4 | $724,500 | 15 |
All information provided by MLS/CLAW is deemed accurate but is not guaranteed.
The percentage difference reflected is compared to the last quarter of 2012, and it is clear that Santa Monica home sales were down in the first quarter of 2013 in comparison.
Overall, the median price was up, except in a few cases, but that is a result of the lower priced properties selling off.
There is a tremendous shortage of inventory which is creating a unhealthy housing market in Santa Monica, as in most Los Angeles areas.
Previous Market Reports
Santa Monica Homes for Sale the Market Trend
Santa Monica Real Estate the Year in Review
Homes for Sale in Santa Monica
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