Market Report
Santa Monica, CA 90402
Condos/Townhomes
Chartwell Escrow
Santa Monica, CA 90402
Wed Jan 22 2025
This week the median list price for Santa Monica, CA 90402 is $1,762,500 with the market action index hovering around 24. This is about the same as last month's market action index of 24. Inventory has increased to 24.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
The market shows signs of warming up, with sales demand recently increasing faster than inventory. Prices have not yet responded as the market is still working through excess inventory. It’s unlikely that we’ll see prices level off or move higher until the MAI sustains its upward trend and maybe not until the inventory is depleted enough to create a Seller’s market.
Real-Time Market Profile
| Median List Price | $1,762,500 | |
| Median Price of New Listings | $2,300,000 | |
| Per Square Foot | $1,219 | |
| Average Days on Market | 180 | |
| Median Days on Market | 147 | |
| Price Decreased | 38% | |
| Price Increased | 0% | |
| Relisted | 17% | |
| Inventory | 24 | |
| Median Rent | ||
| Market Action | 24 | |
| Slight Buyer's Advantage | ||
Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.
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 |
|---|---|---|---|---|---|---|---|---|
| $3,225,000 | 1,899 | 0.5 - 1 acre | 3 | 2.5 | 58 | 0 | 0 | 175 |
| $1,945,000 | 1,554 | 1 - 2.5 acres | 2 | 2 | 54 | 3 | 2 | 157 |
| $1,125,000 | 906 | 1 - 2.5 acres | 1 | 1 | 54 | 0 | 0 | 140 |
| $825,000 | 808 | 1 - 2.5 acres | 1 | 1.3 | 54 | 0 | 0 | 115 |