Santa Monica By The Slice

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We’ve written before about using asking prices, rather than sales prices, as one measure of the real estate market. Having come to no conclusions yet about the validity of asking prices as a statistic, we will err on the side of using them for a while. That said, here are the latest asking prices from Santa Monica, via Kate Bransfield’s ad in the Santa Monica Daily Press:

(These are average prices -- not median -- for single-family homes)
Santa Monica Canyon: $2.32 million
North of Montana: $3.45 million
Betw Wilshire & Montana: $2.58 million
South of Wilshire: $1.02 million
Sunset Park: $1.32 million
Ocean Park: $1.63 million

Meaningful? Meaningless? I would argue there is meaning here if we can follow these numbers over time and see a trend -- either up or down. That is why I am currently enamored of the blog www.housingtracker.net, which tracks asking prices across the country.

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