SANTA MONICA REAL ESTATE SNAPSHOT – APRIL 2010
By Jodi Summers, Our reputation assures your satisfaction.
(Sotheby's International Realty)
By Jodi Summers The stimulus package must be working. Southern California home sales are up for the 20th month in a row as buyers continued to snap up bargain properties. Locally in Santa Monica, comparing March 2008 to March 2010, the median price of for sale properties is down 10% and the median price of sold properties is down 31%. The sales distribution is still slanted toward lower-cost distressed homes, although not as steeply as most of last year. “It’s possible the stars won’t line up this way again for many years. With prices and mortgage interest rates this low, the cost of ownership is about as low as we’ve seen it in decades,” observed John Walsh, MDA DataQuick president. Savvy buyers have been taking advantage of the current conditions. Locally the number ofis up 143% from ...
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