Santa Monica Homes for Sale April 2010 Wrap Up – Crawling and Sprinting

by WestsideDB on May 3, 2010 · 0 comments

in Local Real Estate Statistics and Trends,Santa Monica real estate

Watching the real estate market here in Santa Monica is kind of like watching a slug make its way across the street. You gotta be patient because you might miss something. And then there are those times where you gotta sprint to the finish line because timing is everything. Let’s look at the monthly data for single family homes.

Picture 1 Santa Monica Homes for Sale April 2010 Wrap Up   Crawling and Sprinting

Santa Monica homes for sale April 2010

Overall, it looks like we are starting to gain some momentum – more homes sold in April than the preceding months and more are in a backup position setting the tone for May.

Picture 2 Santa Monica Homes for Sale April 2010 Wrap Up   Crawling and SprintingDemand is consistently up while supply is rising as well.

Picture 3 Santa Monica Homes for Sale April 2010 Wrap Up   Crawling and SprintingThe Santa Monica real estate market is a fairly unpredictable thing on a micro level.  You never know how a local or global event or market incident might alter an owner’s decision to sell their home.  A Realtor I know likes to say its an “efficient machine” meaning it takes care of itself and becomes efficient as buyers and sellers determine the market and what is truly market value.  After all, a home or anything else for that matter is only worth what one person is willing to pay for it.  Let’s look at 512 Georgina.

Did you see this house?  The asking price of 3.1 Million however set me in a better mood.  This place is an amazing home.  Incredible street and location and ungodly amounts of square footage – a finished basement and attic.  Where did it end up? 4 Million.  25% over asking.  Now that is how you sell a house.  Listing agents are friends of mine – Amanda Contreras and James Anderson with Keller Williams Santa Monica.

Apparently 13 people were sprinting for the finish line and competing for this home.  And what matters at the end of the day is that one lucky person gets to live in a beautiful city and in an incredible home.  Santa Monica.  Where else?

pixel Santa Monica Homes for Sale April 2010 Wrap Up   Crawling and Sprinting
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