Santa Monica, CA Real Estate Market
Real Estate Profile: Santa Monica, CA 90401-90405
Latest Santa Monica Market Report
Average price per square foot for Santa Monica CA was $659, a decrease of 7.2% compared to the same period last year. The median sales price for homes in Santa Monica CA for Aug 11 to Oct 11 was $815,000 based on 131 home sales. Compared to the same period one year ago, the median home sales price increased 1.9%, or $15,000, and the number of home sales decreased 24.3%. There are currently 340 resale and new homes in Santa Monica on Trulia, including 35 open houses, as well as 119 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Santa Monica CA was $1,518,112 for the week ending Nov 02, which represents an increase of 1.2%, or $17,361, compared to the prior week. Popular neighborhoods in Santa Monica include North of Montana and Wilshire Montana, with average listing prices of $2,852,948 and $1,078,982. – Statistics from Trulia
Santa Monica consists of many neighborhoods on the Westside of Los Angeles. These include:
North of San Vicente
Homes north of San Vicente Blvd are among the most expensive in Los Angeles County and often contain views of the Pacific Ocean or the picturesque Santa Monica Canyon. Twenty blocks closer to the ocean the Santa Monica Steps are a popular set of 189 very steep steps that lead down into the canyon, frequently used for intense workouts and are an excellent place for spotting sweating celebrities. Streets north of San Vicente are usually short and contain large gated homes. This is part of the 90402 zip code.
North of Montana
South of San Vicente and north of Montana Avenue consist of larger family homes and lots. The houses are extremely expensive here and among the most expensive in Los Angeles County and the country. Most of the lot sizes are 7,500 square feet (700 m2) on 50′ X 150′ lots. This area is served by 2 highly regarded public elementary schools – Franklin School for the residents on 15th through the west side of 26th and Roosevelt for the families on 14th Street down to Ocean Ave.
North of Wilshire
North of Wilshire but South of Montana Avenue, is a primarily residential neighborhood. Laid out on a consistent grid of numbered streets, there are many mid-sized homes and condominiums. On its westernmost end this neighborhood includes a number of well- preserved Victorian duplex houses otherwise unique in the city. Smaller craftsman era bungalows line the east-west avenues like Idaho, Washington, and California. Lincoln Middle School is on 14th Street and California Ave. Real estate is exceptionally expensive in this neighborhood, albeit slightly less expensive than the more stately properties north of Montana.
Downtown Santa Monica
Downtown Santa Monica is located south of California Avenue. The streets that make up downtown Santa Monica are Wilshire Boulevard, Arizona Avenue, Santa Monica Boulevard, Broadway, and Colorado Avenue from 2nd street to 14th street. The Third Street Promenade and Santa Monica Place are located in the heart of downtown. Many restaurants, tourist sites, and hotels are in downtown Santa Monica. In particular, Santa Monica Boulevard has an abundance of car dealerships.
Midtown Santa Monica
Comprising most of the 90404 zip code Midtown Santa Monica stretches from 14th street to Centinela at its westernmost and easternmost extremities, and California Avenue to Olympic Boulevard in its north and south. Alternating between major thoroughfares and quiet residential lanes, Midtown is less congested with tourists than many other parts of the city. The easternmost edge of Midtown Santa Monica, often referred to as the “college streets” where Princeton, Harvard, Yale, Stanford, and Berkeley intersect with Wilshire Boulevard, represents one of the city’s primary gateways. Commemorating the spot where the cities of Santa Monica and Los Angeles (Brentwood neighborhood) share a border is the “Wave” a sculpture by Tony De Lap arching over Wilshire Boulevard near Franklin.
Pico District
The Pico District’s boundaries are Lincoln Blvd to the west, Centinela Ave to the east, Colorado Ave to the north and Pico Blvd to the south. The Santa Monica Freeway runs through the area with access near both Lincoln Boulevard and Olympic Blvd. Santa Monica High School and Santa Monica College are both on Pico. Pico Blvd in Santa Monica has traffic lights at nearly every block, as well as local and middle class businesses. This is the most ethnically diverse area of Santa Monica, and is rapidly becoming gentrified.
Ocean Park
Located in the southwest corner of Santa Monica is the Ocean Park neighborhood. This neighborhood has a mix of older smaller homes and apartment buildings and condos. Several housing towers are located along the beach. The area has a funky, artsy feel similar in manner to its neighbor Venice Beach. Many Santa Monica residents come to shop/browse on Main Street, home of many boutiques and restaurants. Main Street also hosts a weekly farmer’s market on Sundays. SMASH (an alternative school) and John Muir elementary schools are located in the neighborhood. Olympic High, an alternative high school is also located in the area.
Sunset Park
Sunset Park is a residential neighborhood located between Pico Boulevard and the southern city limits and Lincoln Boulevard and eastern city limits. It is composed primarily of single-family housing. Sunset Park is part of the Santa Monica-Malibu Unified School District. Will Rogers and Grant elementary schools and John Adams Middle School are located in the neighborhood. Santa Monica College, a two-year community college, is also located in Sunset Park. Santa Monica Airport, one of the busiest single-runway airports in the nation, is located along the southern borders of the neighborhood.
