Market Report
Santa Monica, CA 90401
Condos/Townhomes
Chartwell Escrow
Santa Monica, CA 90401
Fri Jul 26 2024
This week the median list price for Santa Monica, CA 90401 is $2,022,500 with the market action index hovering around 29. This is an increase over last month's market action index of 25. Inventory has decreased to 14.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $2,022,500 | |
| Median Price of New Listings | $2,222,500 | |
| Per Square Foot | $1,342 | |
| Average Days on Market | 173 | |
| Median Days on Market | 95 | |
| Price Decreased | 43% | |
| Price Increased | 0% | |
| Relisted | 29% | |
| Inventory | 14 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices 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 |
|---|---|---|---|---|---|---|---|---|
| $3,995,000 | 2,096 | - | 3 | 3 | 10 | 0 | 0 | 154 |
| $2,295,000 | 1,609 | 6,500 - 8,000 sqft | 2 | 3 | 21 | 1 | 0 | 105 |
| $1,992,500 | 1,400 | - | 2 | 2 | 10 | 1 | 0 | 80 |
| $1,735,000 | 1,466 | 0.25 - 0.5 acre | 2 | 3 | 23 | 0 | 0 | 105 |