Market Report
Santa Monica, CA 90402
Single-Family Homes
Chartwell Escrow
Santa Monica, CA 90402
Sun Oct 06 2024
This week the median list price for Santa Monica, CA 90402 is $5,822,500 with the market action index hovering around 29. This is an increase over last month's market action index of 27. Inventory has decreased to 36.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $5,822,500 | |
| Median Price of New Listings | $9,242,500 | |
| Per Square Foot | $1,507 | |
| Average Days on Market | 118 | |
| Median Days on Market | 91 | |
| Price Decreased | 33% | |
| Price Increased | 0% | |
| Relisted | 17% | |
| Inventory | 36 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $10,800,000 | 6,811 | 8,000 - 10,000 sqft | 6 | 6.5 | 12 | 1 | 1 | 28 |
| $6,700,000 | 5,022 | 8,000 - 10,000 sqft | 5 | 6 | 14 | 1 | 2 | 91 |
| $4,495,000 | 2,428 | 4,500 - 6,500 sqft | 3 | 3 | 44 | 0 | 3 | 42 |
| $1,599,999 | 1,228 | 1 - 2.5 acres | 2 | 2 | 53 | 0 | 1 | 147 |