Thu Sep 21 2023
This week the median list price for Santa Monica, CA is $1,498,000 with the market action index hovering around 41. This is less than last month's market action index of 46. Inventory has increased to 84.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
|Median List Price||$1,498,000|
|Median Price of New Listings||$1,798,000|
|Per Square Foot||$1,143|
|Average Days on Market||112|
|Median Days on Market||49|
|Slight Seller's Advantage|
The market appears to be hovering around these current levels, though prices movved up a bit this week. The Market Action Index is a good leading indicator for the durability of this shift.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$3,199,999||1,900||1 - 2.5 acres||2||3||49||3||3||77|
|$1,950,000||1,601||0.25 - 0.5 acre||2||3||42||7||1||42|
|$1,295,000||1,306||0.25 - 0.5 acre||2||2||51||2||1||70|
|$825,000||981||0.25 - 0.5 acre||2||2||56||3||3||42|