North of Montana Avenue in Santa Monica (zip code 90402), the prices of single family homes in the flats (no Santa Monica Canyon) have gone up by 7.5% on average from the second quarter of 2014 to 2015. The average sales price per square footage (SP/SF) has increased by a whopping 28.09%. The days on market plummeted by 16.25%, from the second quarter of 2014 compared to 2015.
The general (all zip codes) Santa Monica market reflects the same positive trend. Single-family residence sales are up 12.3% year over year. The prices rose by 6.6%. Homes on the market sold quicker from 47 days to 39- a significant 17.02% drop.
Here is a link to our update for the second quarter of 2015
Our current economic cycle has been called the slow-motion recovery, resulting in incremental improvement. Santa Monica, like other beach cities has enjoyed more robust growth than most other LA County areas and there is nothing “slow-motion” about it.
The data helps tell the story of the market at large, however the best way to know how this impacts what might be your biggest investment, your home, is to schedule an appointment for a home valuation update.
To be updated on our statistics on a regular basis please visit: PARTNERS TRUST MARKET STATS
CLICK HERE TO DOWNLOAD THE PDF
New Listings this Week
327 22nd Street – 5 bedrooms + 6 baths. $5,235,000 . Dr. Roy Simon customized this Mediterranean home which was originally built in 1999 and purchased for $2,050,000. Richly appointed, though a bit formal and dated by today’s standards. 4,000+ square feet of interior space. 50×150 lot with pool and spa. The construction site next door to the north is not available for sale according to its investor owner.
528 21st Street – 4 bedrooms + 3 baths. $3,400,000 . The Whiting home for more than a quarter century is being offered as a tear down lot. 60×149 size and a 5D3 on the city historical survey (call me for details). Along with 18th Street, this is one of the most sought after locations in 90402.
802 San Vicente Boulevard – 3 bedrooms + 2 baths. $3,300,000 . Listed by Pence Hathorn Silver. Excellent lot value opportunity! Large corner lot- 9,474 square feet, 60×159. Sold with plans by Peter Schechter. Drive-by only; in with accepted offer. Call your builder and architect! Last sold in April 2014 for $2,200,000.
New Sales this Week
210 21st Place – 5 bedrooms + 6 baths. $5,395,000 . Relisted new Traditional with solar panels, security cameras, cathedral ceilings in entry, salt water pool, fire pit.
433 26th Street – 5 bedrooms + 4 baths. $2,295,000. Expansive 10,749 square foot lot – 65×165.Traditional style home of more than 3,300 square feet. Remodel or rebuild.
No Closed Deals this Week
Pence Hathorn Silver Active Properties:
Call me for a couple of upcoming attractions, priced from $1.9 million to $6 million – they are not in the MLS.
24142 Malibu Rd. – 3 bedrooms + 3 baths $8,000,000
770 Amalfi Dr. – 6 bedrooms + 6 baths $5,500,000
238 19th St. – 4 bedrooms + 3.75 baths $3,649,000
802 San Vicente Blvd. – 3 bedrooms + 2 baths $3,300,000
809 Malcom Ave. – 3 bedrooms + 3.5 baths $3,100,000
2401 California Ave. – 3 bedrooms + 1.75 baths $1,999,000
30 23rd Ave. – 2 bedrooms + 1.5 baths $1,695,000
918 9th St. #D – 4 bedrooms + 3 baths $1,495,000
928 7th St. #6 – 2 bedrooms + 2.5 baths $1,395,000
11864 Bray St. – 2 bedrooms + 1 baths $799,000
Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Avenue community on our North of Montana blog . Add your comments (scroll down to the “Add Your Comment” section) and read other blogs. And please call my mobile phone (310) 9244014 with any questions.