90505 Real Estate Market

Sellers in 90505 are benefiting from a market where the median sale price of $1,599,000 is coming in approximately $199,012 above the median list price of $1,399,988. With only 106 active listings and a median of 16 days on market, well-positioned homes are drawing serious buyer interest quickly.

Buyers entering ZIP code 90505 should be prepared for a competitive environment where the median sale price of $1,599,000 exceeds the median list price of $1,399,988 by roughly $199,012. With a median of just 16 days on market, having financing fully secured before submitting offers is strongly advisable.

The median rent of $3,850 against a median sale price of $1,599,000 reflects a compressed yield that points toward a long term appreciation play rather than near term cash flow. Investors focused on larger units may find more favorable dynamics, as three bedroom rentals are tracking at $4,850 per month and four bedroom rentals at $6,000 per month.

The current 30 year fixed mortgage rate of 6.37% carries significant weight on a median priced home of $1,599,000, making it essential for buyers to model monthly payment obligations carefully before committing. Borrowers who qualify for the 15 year fixed rate of 5.72% can reduce their total interest cost substantially, though the higher monthly payment requires a strong income profile to sustain at this price point.