You might want to buy or sell a home in Santa Monica. Before you go ahead and enlist Santa Monica realtors in your efforts to buy or sell a home, it’s a good idea to have a general sense of the direction things are going. That way, you can get the maximum amount that you want for your home if you are a seller or you can get your budget in order as a buyer.
That is why we are here. Read on to learn more about what you can possibly look forward to when it comes to the upcoming months when it comes to the real estate market in Santa Monica
Get Ready To Pay Significant Money
If you are shopping for a home in the Santa Monica market in March 2022 and beyond, there is a chance that the prices will continue to creep upward over the course of the next few months. The conditions are favoring the sellers.
It is important to know about this so that you don’t have any shocks when you are looking at homes in the area. Look at your financial resources and see what you can do. Otherwise you might have to look elsewhere.
The Market Is In The Seller’s Corner … For Now
On the other hand, if you are selling, you can possibly expect to get offers that are significantly higher than what you initially paid for your house in the first place. Part of this might be that large corporations might want to buy it and then rent it out.
Trends have shown that the median sale prices for a Santa Monica home have not dipped below $1 million since before the 2020’s started … even in the face of a global pandemic. It seems like there would have to be an even more significant event than that to move it downward.
What About Buying as an Investment?
There are some who see it as a good short-term investment, like a year. The prices tend to be on the upswing. While there are no guarantees that there will not be a change, it seems like you could get some good money in a year.
Yes, there is a very good market for those who buy investment property. It depends on what you yourself want. But barring an enormous bubble popping, it looks to continue on an upward trajectory. So that is what to look forward to in the Santa Monica market.
Author bio- Ray Lyon became a realtor with an aspiration of being a sales leader in the market. With him, he took all of his experience in sales, negotiating, marketing, design and educational background to excel in his new career. He quickly advanced and is in the top 1% of Realtors Nationwide winning various awards along the way. He was named LA Business Journal’s “Real Estate All Stars”, Featured in LA Magazine as a “Top Agent” & named in Real Trends “Americas Best Award” for being the top ½ of the top 1% nationwide. He owns several properties throughout CA. He has flipped and built several homes with his builders and contractors. Not only is he successful at what he does but he is very passionate.
