Kate Bransfield's Market Report
Santa Monica, CA 90402
Single-Family Homes
CalRE #01218699 | Coldwell Banker Realty | 310.395.1133
Santa Monica, CA 90402
Sat Jun 12 2021
This week the median list price for Santa Monica, CA 90402 is $5,844,500 with the market action index hovering around 41. This is less than last month's market action index of 42. Inventory has decreased to 36.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
Real-Time Market Profile
| Median List Price | $5,844,500 | |
| Median Price of New Listings | $5,300,000 | |
| Per Square Foot | $1,604 | |
| Average Days on Market | 155 | |
| Median Days on Market | 70 | |
| Price Decreased | 28% | |
| Price Increased | 0% | |
| Relisted | 19% | |
| Inventory | 36 | |
| Median Rent | $15,250 | |
| Market Action | 41 | |
| Slight Seller's Advantage | ||
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
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 |
|---|---|---|---|---|---|---|---|---|
| $10,950,000 | 6,634 | 0.25 - 0.5 acre | 6 | 7 | 31 | 0 | 0 | 112 |
| $6,498,000 | 5,194 | 8,000 - 10,000 sqft | 5 | 6 | 32 | 0 | 0 | 126 |
| $4,950,000 | 3,000 | 6,500 - 8,000 sqft | 4 | 4 | 40 | 1 | 3 | 63 |
| $2,350,000 | 1,254 | 6,500 - 8,000 sqft | 2 | 2 | 68 | 0 | 0 | 140 |