First American Title
Santa Monica, CA
Single-Family Homes
Santa Monica, CA
Thu May 16 2024
This week the median list price for Santa Monica, CA is $3,500,000 with the market action index hovering around 36. This is an increase over last month's market action index of 34. Inventory has increased to 57.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.
Real-Time Market Profile
| Median List Price | $3,500,000 | |
| Median Price of New Listings | $4,145,000 | |
| Per Square Foot | $1,518 | |
| Average Days on Market | 77 | |
| Median Days on Market | 42 | |
| Price Decreased | 28% | |
| Price Increased | 0% | |
| Relisted | 11% | |
| Inventory | 57 | |
| Median Rent | ||
| Market Action | 36 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
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 |
|---|---|---|---|---|---|---|---|---|
| $8,249,500 | 6,297 | 0.25 - 0.5 acre | 6 | 7 | 35 | 3 | 2 | 87 |
| $4,622,500 | 2,686 | 6,500 - 8,000 sqft | 3 | 3.5 | 58 | 1 | 3 | 59 |
| $2,622,000 | 1,823 | 4,500 - 6,500 sqft | 3 | 2 | 83 | 4 | 3 | 17 |
| $1,850,000 | 1,216 | 6,500 - 8,000 sqft | 2 | 2 | 70 | 0 | 4 | 35 |