Remember That Santa Monica House Listed For $5.095 Million? It’s Gone. Sold.

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Remember that new listing we wrote about last week that broke the $5 million barrier in Santa Monica?
Yes, the one that generated comments about how ridiculously overpriced the market is right now? Well, it’s gone. Sold. To the second buyer who walked in the door. For $5.1 million -- that is, just above the asking price.

‘It’s pretty wild out there’ says the listing agent, Michele Hall of Coldwell Banker. (I know what you are thinking: you are thinking, ‘What’s the commission on $5.1 million?’ Let it go.)

‘Anything that has a real flair to it, anything that’s been remodeled tastefully, anything move-in-able, will get a premium,’ Hall says.

This fits into the tale-of-two-markets trend we see all over LA. As Westside Bubble reports, the quick sale of 333 20th Street (pictured), is part of a ferocious buying spree in progress north of Montana in Santa Monica. Houses are moving fast -- one commenter says the flips are so fresh one house still smelled like paint at the Open House. So where is the other market? Again according to Westside Bubble, just a few blocks south of Montana, it appears condo prices are slipping in the 90403 zip code.

Comments? Thoughts? Insights?
Photo Credit: Westside Bubble