Westside LA Real Estate Sales Statistics for Santa Monica, Venice, Pacific Palisades and Culver City December 2014
The total inventory for the City of Santa Monica decreased 26% for a total of 26 single-family homes and 66 condos and townhomes. The single family homes stayed on the market for a median time of almost 2 months and condos and townhomes typically were taken off the market in 3 months. The Santa Monica single-family home median $/Sqft was down 11% to $970/sqft. Condos and townhouses were priced at $1,116/sqft up 19%. The overall median listing price in Santa Monica went down from November to December. There were a total of 2 price increases and 25 price decreases.
Last month, Venice, CA showed an inventory of 29 single-family homes and 23 condo/townhouses for sale, a small decrease from the previous November’s numbers. Single-family homes generally sold within 44 days of being listed, while condos and townhomes sold in a bit over 4 months from their list date. The median $/sqft for single-family homes increased 6% to $1,099, while condos and townhouses saw a downturn of 8%. The median listing price in Venice stayed the same from November to December. There were a total of 0 price increases and 9 price decreases.
The Pacific Palisades property inventory declined 11% for a total of 58 single-family homes and 6 condos/townhouses. Single-family homes have been staying on the market for an average of 83 days – an increase of 36% from the previous month. Pacific Palisades condos and townhouses have been staying on the market for a little over 2 months – an increase of 66%. Median $/sqft prices for single-family home, condos and townhouses increased between 5-6% from November 2014. The median listing price in Pacific Palisades went up from November to December. There were a total of 2 price increases and 14 price decreases.
Culver City had an inventory of 19 single-family homes and 23 condos and townhomes for the month of December. The number of single-family homes on the Culver City market rose slightly but condos/townhouses were down 41% from the previous month. The median $/sqft price for single-family homes lowered 4% to $565/sqft. Condos and townhouses stayed level at $413/sqft. The median listing price in Culver City went up from November to December. There were a total of 2 price increases and 9 price decreases.