The Real Deal Los Angeles

Submarket Snapshot: Homes in Santa Monica in Q1 2016

Average home price per square foot decreased by 9%

May 25, 2016 05:00PM
By Hannah Miet

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Santa Monica (credit: Sotheby's, Curtis Hamlett)

Santa Monica (credit: Sotheby’s, Curtis Hamlett)

Per-square-foot home prices in Santa Monica dropped 9 percent in the first quarter of 2016, compared with the same period last year, according to a report by Halton Pardee + Partners. It clocked in at $880.

Meanwhile, the average home price in the Ocean Park/Sunset Park area  increased just over 10 percent to $2,3.

The inventory level of single-family homes for sale rose slightly to 16 homes. Homes accounted for 54 percent of residential sales, while 36 percent were condos an 10 percent were income properties.