Don’t believe the data. Yep, you read that right. What this chart reveals is not my reality.
Santa Monica Dirt Down?
Don’t believe the data. Yep, you read that right. What this chart reveals is not my reality.
July and August always seem slower than March and April, and after the post-fire market we experienced in 2025, it feels especially quiet. But it's not.
In the past few weeks, the high-end market malaise is no longer malaising. 339 17th Street, 615 23rd Street, 426 Georgina and 416 21st Place have all gone under contract or closed recently. A few of these had been sitting on the market long enough that the agents and sellers were probably beginning to worry the party was over.
Remember, this is still 90402 and 90403. Good houses are not suddenly cheap. There is still very limited supply, a strong school district, large lots, close proximity to Montana Avenue, and a long history of demand from buyers who aspire to live on the north side of Santa Monica.
So why does the market seem to slow in summer?
Many high-net-worth buyers are traveling or simply not focused on buying real estate in July and August. That can make demand look weaker than it actually is.
Second, comparing this year to last year is probably not entirely fair. After the Palisades fire, North Santa Monica saw an influx of displaced and highly motivated buyers. That helped create an unusually strong seller's market, with homes selling faster and prices pushed higher. So today’s market is being compared against a fire-driven market that may not have been normal to begin with. That matters.
If last year was artificially strong, then this year may not be a buyer’s market at all.
Still, buyers can and do take more time to make their decisions. They can be pickier. Some will try to negotiate harder on price, repairs, credits, and terms. Some will not feel the need to chase every listing the moment it appears.
But calling it a buyer’s market is a stretch. I’d call it a balanced market at best.
That distinction is important.
A great house on a quiet street, properly priced, will sell quickly. A listing that has languished on the market or has an awkward floor plan, deferred maintenance, or an unrealistic seller is a different story. That is where buyers may have an opportunity.
For sellers, the message is simple: do not confuse North Santa Monica’s long-term strength with “anything goes” pricing. Buyers are more disciplined than last year and they are not rewarding wishful thinking.
Not convinced? Call me and let's discuss it!
In Other 90402 Real Estate News
Right now there are 24 Active listings in the 90402 “flats”, eleven of those listings are asking more than $10M.
There has been just two new listing since my last update last week-
417 11th Street - Listed by yours truly for $3,800,000. This is a single-story, 1926 Spanish. It’s Cute, clean & livable, while priced at lot value! Approximately 2,300 sqft with 5 bedrooms, 2.5 baths on a 7,527 sqft lot. A buyer can renovate, expand, build new, or move right in! I advised the Seller on the preparations necessary to make the home most attractive to the widest pool of buyers. Together, we executed those items, and I recommended a listing price that I expect will generate multiple offers, allowing my client to select their ideal buyer. I hope to report back in a (near) future DIRT update that our plan came to fruition.
422 18th Street - Listed for $5,195,000. This is a teardown on a 60 foot wide, 8,939 sqft, lot. The existing house is 1,500 sqft and in pretty rough shape. Prime street and location, but a pretty steep asking price.
Five properties in escrow-
628 26th Street – Listed for $2,695,000.
428 10th Street – Listed for $8,995,000.
523 9th Street - Listed for $7,995,000.
339 17th Street - Listed for $12,950,000.
426 Georgina Avenue - Listed for $11,995,000.
Four closings -
415 21st Street - Sold for $6,412,195. Originally listed for $5,995,000.
416 21st Place - Sold for $10,650,000. Originally listed for $14,495,000.
615 23rd Street - Sold for $10,000,000. Originally listed for $14,895,000.
1202 San Vicente - Sold for $7,850,000. Originally listed for $8,595,000.
