Market Report
Santa Monica, CA 90404
Condos/Townhomes
Chartwell Escrow
Santa Monica, CA 90404
Sat Jul 27 2024
This week the median list price for Santa Monica, CA 90404 is $1,047,000 with the market action index hovering around 45. This is an increase over last month's market action index of 43. Inventory has increased to 20.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Real-Time Market Profile
| Median List Price | $1,047,000 | |
| Median Price of New Listings | $946,999 | |
| Per Square Foot | $862 | |
| Average Days on Market | 63 | |
| Median Days on Market | 35 | |
| Price Decreased | 25% | |
| Price Increased | 5% | |
| Relisted | 10% | |
| Inventory | 20 | |
| Median Rent | ||
| Market Action | 45 | |
| Strong Seller's Market | ||
Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,399,000 | 1,662 | 6,500 - 8,000 sqft | 3 | 3 | 16 | 0 | 0 | 63 |
| $1,149,000 | 1,359 | 8,000 - 10,000 sqft | 2 | 3 | 50 | 0 | 0 | 84 |
| $969,000 | 1,187 | 0.25 - 0.5 acre | 2 | 2 | 50 | 3 | 0 | 0 |
| $729,000 | 832 | 6,500 - 8,000 sqft | 2 | 1 | 60 | 1 | 3 | 28 |