Nicole Costas' Market Report

Santa Monica, CA

Single-Family Homes

DRE #01049913 | 323-630-6976 |nicole@nicolecostas.com



Santa Monica, CA

Tue Oct 19 2021
This week the median list price for Santa Monica, CA is $3,499,000 with the market action index hovering around 40. This is less than last month's market action index of 41. Inventory has held steady at or around 73. Click here to stay informed with the Santa Monica market!

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.

Santa Monica, CA

Tue Oct 19 2021
This week the median list price for Santa Monica, CA is $3,499,000 with the market action index hovering around 40. This is less than last month's market action index of 41. Inventory has held steady at or around 73. Click here to stay informed with the Santa Monica market!

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

Never miss important changes in the Santa Monica market.
Median List Price $3,499,000
Median Price of New Listings $4,095,000
Per Square Foot $1,455
Average Days on Market 144
Median Days on Market 77
Price Decreased 29%
Price Increased 3%
Relisted 15%
Inventory 73
Median Rent $8,000
Market Action 40
Slight Seller's Advantage

The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. 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
$9,875,000 5,893 8,000 - 10,000 sqft 6 7 26 0 4 87
$4,673,500 3,063 6,500 - 8,000 sqft 4 4 83 5 3 59
$2,595,000 1,793 6,500 - 8,000 sqft 3 2 78 0 5 70
$1,549,000 1,213 4,500 - 6,500 sqft 2 1 70 3 4 91