How Much Does it Cost to Buy a Home in Santa Monica?

By
Real Estate Broker/Owner with Home Jane Realty BRE# 01439865

The median of 318 single family homes sold in Santa Monica as a whole over the past year is $3.323M with an average price per square foot of $1,379. The median price of 598 condos sold is $1,125M with an average price per square foot of $948.

Since each area of Santa Monica is unique, let’s break down the sales by zip code:

90401

Homes for sale in Santa Monica 90401

7 SF homes sold for a median price of $5.1M with an average price per sq. ft. of $1,750. 28 condos sold for a median price of $1.104M with an average price per sq. ft. of $981.

90402

Homes for sale in Santa Monica 90402

 

144 SF homes sold for a median price of $4.840M with an average price per sq. ft. of $1,489. 42 condos sold for a median price of $$1,702.

90403

Homes for sale in Santa Monica 90403

 

33 SF homes sold for a median price of $3.175M with an average price per sq. ft. of $1,325. 232 condos sold for a median price of $1.257M with an average price per sq. ft. of $974.

90404

Homes for =sale in Santa Monica 90404

 

17 SF homes sold for a median price of $1.670M with an average price per sq. ft. of $1,181. 138 condos sold for a median price of $931.125K with an average price per sq. ft. of $818.

90405


Homes for sale in Santa Monica 90405

 

121 SF homes sold for a median price of $2.4M with an average price per sq. ft. of $1,278. 158 condos sold for a median price of $1.090M with an average price per sq. ft. of $959.
 
It is interesting to note that 198 of the total single family home sales, 62%, sold for an average of 3% over asking within 30 days.  336 condos, 56% sold for 2% over asking within 30 days.
 
Because of consistently low inventory, home prices in Santa Monica continue to rise. The percentage increase of single family homes sold in 2021 as compared to the same period the previous year is 22.5%. For condos it is 5%.

Click here for more detailed information on the Santa Monica real estate market over the past two years. You can also search other areas and create your own market report by clicking here.

 

Comments (3)

Tony Busanich
TD Bank - Freehold, NJ
1-4 FAMILY HOME LOAN SPECIALIST

Thanks Jane for the great post. Great market information  update thanks for sharing. Wish you all the best. 

Oct 27, 2021 05:19 PM
Jane Peters

Tony, thank you for stopping by.

Oct 28, 2021 11:22 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Jane - it's nice to "see" you here with this post sharing some of the reality of Santa Monica CA real estate.  I am sure some, maybe many, of those reading about the activity are gob-smacked(as I first recall hearing from Nina Hollander, Broker) about the prices.  

 

I hope all is well with you.  Take care.  

Oct 28, 2021 04:21 AM
Jane Peters

Nice to see you, Michael. I hope all is well up in Pasadena.

Oct 28, 2021 11:23 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

Take care, be safe and enjoy the holiday season.

Nov 22, 2021 05:24 AM