Pango Group

Santa Monica, CA

Single-Family Homes

www.pangogroup.com



Santa Monica, CA

Fri Mar 29 2024
This week the median list price for Santa Monica, CA is $4,145,000 with the market action index hovering around 35. This is less than last month's market action index of 38. Inventory has increased to 56. 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

Fri Mar 29 2024
This week the median list price for Santa Monica, CA is $4,145,000 with the market action index hovering around 35. This is less than last month's market action index of 38. Inventory has increased to 56. 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 $4,145,000
Median Price of New Listings $3,385,000
Per Square Foot $1,503
Average Days on Market 110
Median Days on Market 49
Price Decreased 34%
Price Increased 2%
Relisted 21%
Inventory 56
Median Rent
Market Action 35
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
$12,595,000 6,245 0.25 - 0.5 acre 6 7 38 1 1 136
$4,999,943 2,942 6,500 - 8,000 sqft 4 3 80 2 2 31
$3,497,500 2,695 4,500 - 6,500 sqft 4 4 75 2 2 35
$1,922,500 1,290 0.5 - 1 acre 2 2 53 2 2 42