North of Montana Ave 

Year-to-Date Update:

A Market That Rewards Precision

The North Santa Monica market—particularly the 90402 / North of Montana pocket—continues to operate on its own wavelength. It is not just “strong” or “soft.” It is selective, strategic, and increasingly unforgiving of mistakes.

Pricing Power Remains

In early 2026, the numbers tell a nuanced story:

• Median sale price in 90402: ~$4.9M
• Year-over-year movement: roughly flat to slightly down (~-3%)
• Days on market: rising significantly (approaching ~100 days)

At the same time, broader Santa Monica pricing is softer:

• Citywide median roughly $1.5M–$1.8M range, with declines year-over-year 
• North of Montana average values still near $4.8M+, reinforcing its premium tier 

Interpretation:

This is no longer a momentum market. It is a pricing and positioning market.

The Shift: From Frenzy to Strategy

From 2021–2023, buyers chased inventory. 

In the aftermath of the Palisades fire in 2025 the chase became a frenzy. Now that the frenzy has subsided, the action seems more focused on a specific price segment, under $9M. The properties that are priced above $9M are on the market much longer than the low $4M’s to high $8M’s. There have been no closed sales this year for more than $7.5M. There are 11 homes on the market for more than $9M.

In 2026, buyers analyze, compare, and negotiate.

1. More Time = More Scrutiny

Over $9M, homes are sitting longer. Buyers are on the sidelines, factoring insurance, ULA (mansion taxes) due when they decide to sell, economic jitters and global economics. This aligns with a broader trend: buyers are increasingly risk-aware and cost-sensitive at the luxury level. 

2. Inventory Still Tight 

Santa Monica remains supply-constrained (roughly ~1.9 months inventory). What was a few years ago  $3M to $6M is now $4M to $8M. Said differently, $4M to $8M is the new $3M to $6M. In the past few months, land value properties have lasted on the market only a few days, generating multiple offers from a variety of Buyers.

3. The “Coastal Premium” Is Intact

Despite some softening metrics, North of Montana remains one of the most insulated markets in Los Angeles:

• Long-term appreciation: ~3–5% annually projected 
• Persistent global demand
• Severe supply constraints (finite lots, no expansion)

What Actually Matters Most... 

Pricing Is Everything Overpriced Homes are Punished Immediately

The old strategy—“test high and negotiate down”—is failing.

In today’s market:

• The first 2–3 weeks determine outcome
• Stale listings lose leverage quickly
• Buyers track price reductions aggressively

Buyer Behavior: Opportunistic, Not Desperate

North of Montana Buyers today are:

• Wealthy but patient
• Focused on value relative to recent comps, not list price
• Actively pursuing off-market opportunities (estimated ~15% of deals)

Seller Reality: Precision Wins, Ego Loses

Sellers who are succeeding in 2026:

• Price based on closed comps, not homes that have not yet sold
• Present flawlessly (design, staging, landscaping) 
• Understand that negotiation is expected and re-negotiation after inspections complete

Sellers who are failing:

• Anchor to 2022–2023 pricing, or “what they need” the house to sell for.
• Ignore feedback
• Chase the market with reductions over time

Call me for a no-obligation valuation of your property. You might be surprised to learn the value in today’s market!

In 90402 Real Estate News…

Right now there are 18 Active listings ranging from $3,850,000 to $19,995,000. 

The newest listings:

451 16th Street - Listed for $6,950,000. This is a nicely updated 1920’s Spanish with pool and ADU. It is mostly on one level. The house is just over 3,200 sqft with 3 bedrooms. Last sold in 2023 for $5,995,000.

1015 San Vicente Blvd - Listed for $3,850,000. This is a lot value property priced to entice multiple offers. The lot is 10,000 sqft.

143 Marguerita Avenue - A fixer-upper, listed for $12,500,000. This is a beautiful, large, 14,700 sqft lot with a nearly 6,000 sqft house. Originally built in 1987 and in need of a makeover. Last sold in 2003 for $3,145,000.

There are seven properties in escrow:

246 16th Street - Listed for $3,850,000. I listed this house to sell with multiple offers over list price. To do so, we created a custom timeline and strategy to suit the Sellers. (all 5 of them!) Look for this to close escrow in about 10-days The (thrilled) new owners beat out 13 other bidders and intend to restore the house to its original glory.

401 26th Street - Listed for $8,995,000. A beauty on a busy street.

428 10th Street - Listed for $8,995,000.

243 Euclid Street - Listed for $3,800,000. An older spanish style, fixer upper. Sold with multiple offers.

739 18th Street - Listed for $3,995,000. A land value property that sold over asking (by PHS) with multiple offers.

541 11th Street - Listed for $7,950,000. A very nice traditional style with great scale.

831 Georgina Ave - Listed for $12,995,000.

There have been nine sold in the last 30 days:

440 19th Street - Sold by my partner for Loraine Silver for $6,000,000. Listed for $5,295,000. Goal was to generate multiple offers, which we did exceeding the Seller’s expectations with a short, hassle-free escrow.

602 14th Street - Sold for its list price of $5,650,000. 

434 21st Place - Sold for $6,000,000. Originally listed for $5,495,000.

506 Georgina Avenue - Sold for $6,250,000. Originally listed for $6,495,000.

347 25th Street - Sold for $7,551,000. Originally listed for $7,995,000.

734 12th Street - Sold for $2,950,000. Originally listed for $2,395,000.

201 23rd Street - Sold for $4,175,000. Originally listed for $4,395,000.

704 17th Street - Sold for $3,800,000, Listed for $3,399,000 and had multiple offers.

456 Lincoln Blvd - Sold for $4,400,000. Listed for $4,250,000.