Sandy white beaches, bluffs overlooking the Pacific Ocean shores, a sun-kissed ambience and outstanding cultural offerings – it sounds too good to be true. But Santa Monica, a coastal paradise next to Los Angeles, is all that and more. This seaside haven only spans 8.3 square miles but packs quite a punch. Santa Monica is located just eight miles from Los Angeles International Airport and is mere minutes from the Hollywood L.A. buzz. Add to the fact that the city is also edged by Pacific Palisades, West Los Angeles, Brentwood, Venice and Mar Vista on all sides, and Santa Monica has that center of the universe feel. It's no wonder that nearly 90,000 people call Santa Monica home, based on 2005 population estimates.
Santa Monica's stunning beaches sprawl 3 1/2 miles along the coastline. The Santa Monica Pier, with its Pacific Park amusement area and nearby beachfront boardwalk, offers arcades, street vendors, shops, eateries, a Ferris wheel and a 1920s carousel – and panoramic vistas of the Pacific Ocean.
True to California form, Santa Monica real estate comes at a high price. Limited housing stock has sent home prices skyrocketing, with the median home price of new and resale homes and condominiums reaching $877,000 in 2006, according to DataQuick Information Systems. Annual appreciation has reached double digits, according to CNNMoney.com which lists Santa Monica's median home price at a more modest $784,000 with 10% appreciation in the last year. According to Coldwell Banker's annual Home Price Comparison Index, a 2,200-square-foot house with four bedrooms, 2 1/2 baths, a family room and a two-car garage could set a Santa Monica home buyer back nearly $1.8 million.
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