As of the end of February 2012, there were 66 single-family Santa Monica residences listed in the Multiple Listing Service (M.L.S.), which is 42 percent lower than the same time last year. Twenty-seven homes have sold so far this year, and there are currently 45 homes in escrow in Santa Monica.
Median sale prices are currently $1,758,800, which is up 31 percent over the same period last year. The average sale price per square foot has increased by 19 percent as compared with the same period in 2011, and is now at $807 per square foot.
The lowest-priced available home is a two-bedroom, one-bath on Arizona Avenue at $639,000. The highest-priced property is on Georgina Avenue. This six-bedroom, 9.5-bath house is listed at $9,995,000.
The lowest sale price so far this year was a two-bedroom, one-bath on Stanford Street, which sold for $520,000. The highest sale so far this year was a seven-bedroom, eight-bath on La Mesa Way, which sold for $9,400,375.
Michael Edlen has provided real estate counseling services for 26 years. He is ranked in the top 50 of Coldwell Banker agents nationwide. He can be reached at 310.230.7373 or Michael@MichaelEdlen.com. More information is available on MichaelEdlen.com.