Simon Says:” What is Going on in the Local Santa Monica and Brentwood Real Estate Market?”
This week while watching CNN I heard the confident newscaster exclaim, “New home sales prices surged– they SURGED in April and existing home sales PLUNGED!” Being a little gullible and expecting the news to give me in-depth knowledge of a situation I was transfixed and intent on hearing the rest of the story. Well, that was it, that was her whole story. To be truthful, I am not exactly sure what is going on in our local real estate market right now, but it is neither surging nor plunging.
The median sale price for single family homes in Santa Monica from 2007 to date is ,587,500 while the median sale price to date since 2006 is ,534,000. What this means is that values are basically holding steady. Real estate values and desirability in our city is pretty varied. If in 2006 a few more people sold their houses in Sunset Park than North of Montana, the median sales price will be lower and vice-versa. The same holds true for days on market. An average condo off the 10 freeway at Pico is going to take longer to sell than your average condo North of Wilshire.
Single family home properties have been selling at an average of 96.43% of their original asking price. The average days on market year to date is 96 days. The dollar volume of sales has picked up a few points since last year, so people are still buying. It’s taking a little longer to sell a home, but sellers are getting more or less what they are asking and the market is holding steady. Nothing exciting, no “surging” or “plunging.”
In Brentwood, an area with predominately higher-end single family homes, the median sales price for 2007 is ,367,500 and the median sales price since 2006 is ,990,500. The average days on market year to date is 78 days. It’s too early to tell if median sales prices will be significantly higher than last year, but they certainly aren’t going down.
Condos used to be the segment of the market that were the first to get hammered by a slow-down. The median sales price for condos in Brentwood from 2007 to date is 4,000 and in Santa Monica it is 2,500. The median sales price since 2006 to date in Brentwood for condos is 0,000 and in Santa Monica it is 7,754. The average days on market in Brentwood is 94 and in Santa Monica it is 142. Whenever I see the days on market go past four months it’s not good. However, since the first four months of this year, the average days on market for a condo in Santa Monica is just 62.
I know that none of this information is too exciting, but hopefully it is comforting to know that the sky isn’t falling. If you are a homeowner you don’t need to worry everyday that your equity is taking a nose dive. For buyers, this should help you to feel better about your inclination to find a place to settle into and call “home.”
Simon Salloom is a local Santa Monica based REALTOR with Coldwell Banker. For questions and comments on this article go to: Santa Monica Real Estate and click on the link to the blog. All statistics taken from the BHGLAAR MLS.
Simon Salloom is a Realtor who specializes in Santa Monica Real Estate with Coldwell Banker Residential Real Estate Brokerage, Brentwood Court Office. He is ranked in the top 3% of Coldwell Banker agents Nationwide for sales volume. Contact me via my web-site: www.SantaMonicaSimon.com
Monica reveals details about TI and Tiny’s wedding on The Wendy Williams Show. www.wendyshow.com
why can’t i meet black women like her around here. the ones around here wear construction boots and scratch their balls…. i mean seriously. I know i’m boujee myself, but they make me look like a catholic school girl around here. and they all need “wide load” across their hips. I’m just sayin.
monica is a stuck up bitch. when she came to toronto, she was performing stage and ppl weren’t jumping up and singing the songs, so she just walked off unexpectedly.
@dayshjorah EVERYONE CHECK OUT THIS SINGER NAME INTRUDA.TYPE INTRUDA4LIFE AND LISSEN TO HIS NEW SONG SICK IN LOVE..HE IS HOPING TO SELL IT TO BRANDY,RAY J,USHER,OMARION,BEYONCE,CIARA OR RIHANNA..
Beautiful.. They shouldv’e played the whole interview.. it wasen’t long . GEORGE LOPEZ did.. I guess this part only had tha juicy GOSSIP & PROOF. That it was said BEING MESSY . Obviously the audience was unaware. And also WENDY of all lol. BUT I LOVE U BOTH
And oh yeah, how could I forget this, her style is so dope!! She follows the trends and all, but she never makes it too crazy or attention seeking, her look is very classic and eye-catching at the same time. Her shoe game is crazy!
September 2nd, 2010at 2:40 pm(#)
@BXTALE naw trust me she is one if the most humble laid back peoeple on this planet….compared to most of these artist out here she aint nowhere near
September 2nd, 2010at 3:32 pm(#)
@eLpeach prick
September 2nd, 2010at 3:33 pm(#)
why can’t i meet black women like her around here. the ones around here wear construction boots and scratch their balls…. i mean seriously. I know i’m boujee myself, but they make me look like a catholic school girl around here. and they all need “wide load” across their hips. I’m just sayin.
September 2nd, 2010at 3:44 pm(#)
monica is a stuck up bitch. when she came to toronto, she was performing stage and ppl weren’t jumping up and singing the songs, so she just walked off unexpectedly.
September 2nd, 2010at 4:01 pm(#)
Feel bad for her in terms of the father of her kids.
September 2nd, 2010at 4:58 pm(#)
Monica is alright but sometimes her attitude look a little boujee to me
September 2nd, 2010at 5:57 pm(#)
so elated monica is back… love the album and the look … still young and fresh
September 2nd, 2010at 6:28 pm(#)
@eLpeach Your a dumbass go watch Sesame Street you fucking ignorant fool.
September 2nd, 2010at 6:44 pm(#)
yes wendy
September 2nd, 2010at 7:29 pm(#)
@dayshjorah EVERYONE CHECK OUT THIS SINGER NAME INTRUDA.TYPE INTRUDA4LIFE AND LISSEN TO HIS NEW SONG SICK IN LOVE..HE IS HOPING TO SELL IT TO BRANDY,RAY J,USHER,OMARION,BEYONCE,CIARA OR RIHANNA..
September 2nd, 2010at 8:15 pm(#)
stupid blacks trying to make money
September 2nd, 2010at 8:17 pm(#)
i love this
September 2nd, 2010at 8:22 pm(#)
Monica is the best!!!Wendy why you trying to get her in trouble???
September 2nd, 2010at 9:14 pm(#)
MOnica is a foxy, lil chick!
September 2nd, 2010at 9:40 pm(#)
Beautiful.. They shouldv’e played the whole interview.. it wasen’t long . GEORGE LOPEZ did.. I guess this part only had tha juicy GOSSIP & PROOF. That it was said BEING MESSY . Obviously the audience was unaware. And also WENDY of all lol. BUT I LOVE U BOTH
September 2nd, 2010at 9:57 pm(#)
Monica is beautiful. She has awesome skin.
September 2nd, 2010at 10:04 pm(#)
lmao dont try to get her in trouble Wendy.. just playing
~ Mimi of SSL / NMR – Young Female Rapper
September 2nd, 2010at 10:44 pm(#)
And oh yeah, how could I forget this, her style is so dope!! She follows the trends and all, but she never makes it too crazy or attention seeking, her look is very classic and eye-catching at the same time. Her shoe game is crazy!
September 2nd, 2010at 11:11 pm(#)
@24mslynn I don’t really know her, but I see her on the blogs and she’s always very elegant and graceful. I like it. : )
September 2nd, 2010at 11:22 pm(#)
monica is a beauitful person inside n out