Local Market Report
Santa Monica, CA
Single-Family Homes
Santa Monica, CA
Thu Mar 23 2023
This week the median list price for Santa Monica, CA is $5,995,000 with the market action index hovering around 36. This is an increase over last month's market action index of 33. Inventory has decreased to 49.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices
Real-Time Market Profile
| Median List Price | $5,995,000 | |
| Median Price of New Listings | $2,399,000 | |
| Per Square Foot | $1,802 | |
| Average Days on Market | 120 | |
| Median Days on Market | 70 | |
| Price Decreased | 43% | |
| Price Increased | 0% | |
| Relisted | 22% | |
| Inventory | 49 | |
| Median Rent | ||
| Market Action | 36 | |
| Slight Seller's Advantage | ||
Prices are climbing and we’re nearing the market’s all time high. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $15,147,500 | 6,944 | 0.25 - 0.5 acre | 6 | 7.5 | 53 | 0 | 0 | 101 |
| $8,892,500 | 5,713 | 8,000 - 10,000 sqft | 4 | 6 | 35 | 0 | 1 | 77 |
| $4,922,500 | 2,827 | 6,500 - 8,000 sqft | 4 | 4 | 59 | 0 | 1 | 84 |
| $2,600,000 | 1,642 | 6,500 - 8,000 sqft | 3 | 2 | 82 | 3 | 5 | 42 |