Kate Bransfield's Market Report
Santa Monica, CA 90402
Single-Family Homes
CalRE #01218699 | Coldwell Banker Realty | 310.395.1133
Santa Monica, CA 90402
Wed Sep 22 2021
This week the median list price for Santa Monica, CA 90402 is $5,687,500 with the market action index hovering around 39. This is less than last month's market action index of 42. Inventory has decreased to 37.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.
Real-Time Market Profile
| Median List Price | $5,687,500 | |
| Median Price of New Listings | $7,350,000 | |
| Per Square Foot | $1,501 | |
| Average Days on Market | 122 | |
| Median Days on Market | 63 | |
| Price Decreased | 30% | |
| Price Increased | 0% | |
| Relisted | 5% | |
| Inventory | 37 | |
| Median Rent | $13,250 | |
| Market Action | 39 | |
| Slight Seller's Advantage | ||
Prices in this zip code been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. Watch the Market Action Index for any signs of demand increasing.
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 |
|---|---|---|---|---|---|---|---|---|
| $15,000,000 | 8,124 | 0.25 - 0.5 acre | 6 | 8 | 15 | 2 | 1 | 77 |
| $7,350,000 | 4,988 | 6,500 - 8,000 sqft | 5 | 7 | 32 | 1 | 0 | 49 |
| $4,500,000 | 3,380 | 6,500 - 8,000 sqft | 4 | 4 | 86 | 1 | 1 | 70 |
| $2,574,500 | 1,414 | 0.25 - 0.5 acre | 2 | 2 | 59 | 1 | 1 | 77 |