The rent prices in real estate in Santa Monica, in the California region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Santa Monica has risen strongly during the last 6 months. In November, the average price per sq.feet was $4.08. In December this price barely changed remaining at $4.25 per sq.feet. In the following two months the price per sq.feet has practically remained the same, going from $4.16 to $4.1 per sq.feet. The price per sq.feet has had a considerable rise of 147 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $4.13 to $6.09 during March, and April.
When referring to the price in Santa Monica (cities), this has fallen in the last 6 months. In our first sample month during November, the average price is $4,075. In December This price remains at $4,151. During the following two months (January, February) the average price fell 89 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from $3,892.5 to $3,097, which means a 80 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $3,185 they are 17 % more affordable than the average price for Santa Monica . The properties with the highest average price have 4 bedrooms, Their price is 189 % more expensive than the average. After that we have properties with 3 bedrooms priced at $5,640.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $3.54 / sq.feet, with an average $4.06 / sq.feet price in Santa Monica. The properties with the most affordable average prices have 3 bedrooms. They are 1 % more affordable than the average followed by properties with 1 bedroom with a price at $3.98 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $3,185 it is 15 % more affordable than the average price in Santa Monica. "Detached House" is seen as the second most affordable property type. The most expensive property type is "House" followed by "Land". At a price of $4,161 it is 106 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Detached House" at an average price of $2 / sq.feet followed by "Condo" priced at $3.7 / sq.feet. "Land" is the most expensive type of property with a $91 / sq.feet value followed by "House" with an average price of $4.04 / sq.feet.