Local Market Report

Santa Monica, CA

Single-Family Homes



Santa Monica, CA

Sun Feb 25 2024
This week the median list price for Santa Monica, CA is $4,824,500 with the market action index hovering around 40. This is less than last month's market action index of 41. Inventory has held steady at or around 42. Click here to stay informed with the Santa Monica market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

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.

Santa Monica, CA

Sun Feb 25 2024
This week the median list price for Santa Monica, CA is $4,824,500 with the market action index hovering around 40. This is less than last month's market action index of 41. Inventory has held steady at or around 42. Click here to stay informed with the Santa Monica market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

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

Never miss important changes in the Santa Monica market.
Median List Price $4,824,500
Median Price of New Listings $4,395,000
Per Square Foot $1,565
Average Days on Market 145
Median Days on Market 116
Price Decreased 31%
Price Increased 2%
Relisted 31%
Inventory 42
Median Rent
Market Action 40
Slight Seller's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$15,247,500 7,100 0.25 - 0.5 acre 6 8.5 56 0 0 126
$6,995,000 4,416 8,000 - 10,000 sqft 5 5.4 69 1 1 150
$4,095,000 2,493 6,500 - 8,000 sqft 4 4 71 2 3 91
$2,295,000 1,235 8,000 - 10,000 sqft 2 2 53 0 0 56