Santa Monica Dirt by The Numbers

You have asked me and therefore I’ve studied the year-over-year MLS information for the past few days. So for all you quants out there - you might be surprised to learn that homes are selling a little more slowly than they did in 2015 - but the prices are a little higher. Don’t get too excited though. The North of Montana Avenue market is so small and tight that measuring only 40-50 sales (the 9 first months of the year) is not really the best way (not enough data) to draw very meaningful conclusions. It really takes about 2 years’ worth of sales to see real trends and movement in the stats but here are the numbers:

Average DOM (days on market) for the same period in 2015 was 35 days. So far, this year its 55 days.

By this time last year there were 51 MLS closings. This year 42 have closed.

The $/sqft or price per square foot was higher last year by almost 3%, however, the average sale price is also higher this year by nearly 3%.

This neighborhood is one of the most sought after and expensive in the nation. I don’t expect to see demand lessening any time soon. Next post I will share the 2 year averages.

Here is your real-time 90402 MLS transaction data:

3 homes have come on the market, no home sold last week.

Here are three new listings:

537 Alta Avenue - 6 bedrooms, 7 baths, fully priced at $8,995,000. Around 16,800 sqft lot and a Spanish style 5 bedroom home plus a guest house. Last sold in September 2007 for $7,900,000.

402 Alta Avenue - 4 bedrooms, 5 baths asking $4,795,000. This lot is under 7,000 sqft and the style and decor is rather specific but the west of 7th location might be enough of a draw that this home will see a lot of action. Last sold in April 2006 for $2,050,000.

215 21st Place - Best in Class! 5 bedrooms, 5 baths asking $4,695,000. Pence Hathorn Silver is proud to present this beautiful Mediterranean Spanish style home. Perfect floor plan, immaculate condition, 4 spacious bedrooms plus detached guest suite. Sophisticated craftsmanship and details throughout. Franklin School District.

Call me for a couple of upcoming attractions that are not yet listed in the MLS, priced from $1.9 million to $8 million. And….here are a few that we have listed in the MLS:

421 23rd Street – 5 bedrooms and 6 baths $5,995,000

416 18th Street – 5 bedrooms and 5.5 baths $4,950,000

215 21st Place – 5 bedrooms and 4.5 baths $4,695,000

1012 2nd Street Unit# 2 – 3 bedrooms and 3.5 baths $3,488,000

1012 2nd Street Unit# 1 – 3 bedrooms and 2.75 baths $2,895,000

922 16th Street Unit# 3 - 3 bedrooms and 2.5 baths $899,000