Market Report
Santa Monica, CA 90404
Condos/Townhomes
Chartwell Escrow
Santa Monica, CA 90404
Wed May 01 2024
This week the median list price for Santa Monica, CA 90404 is $1,100,000 with the market action index hovering around 42. This is an increase over last month's market action index of 39. Inventory has increased to 13.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.
Real-Time Market Profile
| Median List Price | $1,100,000 | |
| Median Price of New Listings | $1,124,500 | |
| Per Square Foot | $882 | |
| Average Days on Market | 62 | |
| Median Days on Market | 28 | |
| Price Decreased | 15% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 13 | |
| Median Rent | ||
| Market Action | 42 | |
| Slight Seller's Advantage | ||
Though in this zip code this week saw relatively little price change from last week, the market seems to be show some signs of strength. Keep an eye on the Market Action Index to see if this short-term trend can establish itself over the coming months.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,499,000 | 1,662 | 0.25 - 0.5 acre | 2 | 3 | 16 | 1 | 2 | 28 |
| $1,249,000 | 1,472 | 0.25 - 0.5 acre | 2 | 3 | 33 | 1 | 2 | 154 |
| $1,000,000 | 1,176 | 0.5 - 1 acre | 3 | 2 | 50 | 1 | 1 | 14 |
| $644,450 | 667 | 0.25 - 0.5 acre | 1 | 1 | 42 | 1 | 0 | 38 |