It is that time of the year again, the beginning of a new one, and time to look back at how the Santa Monica real estate market fared in 2011.
Since Santa Monica is made up of diverse neighborhoods I have split the report into single family by price and condos.
What is Market Absorption?
Market absorption trends show the rate that properties are selling compared with inventory which enables us to see if it is a sellers’ or buyers’ market.
6 months worth of inventory is a balanced market.  Under 6 months is a sellers’ market, and anything over 6 months is a buyers’ market.
So how is the Santa Monica real estate market doing?
Surprisingly, the under $2M Santa Monica single family home market showing a bigger drop than the higher end homes, although both are showing a larger decrease over 2011.  The median price is down at the lower end, but the sales vs list price is slightly up, indicating that homes priced well are selling close to asking.  Also, with inventory at around 2 months, Santa Monica home sellers should consider this a good time to put their homes on the market.
The higher end market is a buyers’ market
Santa Monica condos are also showing a decrease across the board, number of sales, median price, and sales to list price, but the inventory is low, so if you are thinking of selling a Santa Monica condo  now would be a good time.
Previous Santa Monica Housing Market Reports
Santa Monica Market Report September 2011
Real Estate in Santa Monica Half Yearly Market Report
Santa Monica Real Estate First Quarter 2011 Â Market Report
Single Family
Condo
Rental
Land
- MLS® #: 24-449959
- 1261 Angelo Dr
- Beverly Hills CA
- $195,000,000
- 16 Bed | 27 Bath | 50,000 SqFt
- 6.03 Acres
- MLS® #: 24-450729
- 10644 Bellagio Rd
- Los Angeles CA
- $195,000,000
- 7 Bed | 20 Bath | 0 SqFt
- 8.4 Acres
- MLS® #: 24-386575
- 729 Bel Air Rd
- Los Angeles CA
- $150,000,000
- 9 Bed | 20 Bath | 18,784 SqFt
- 3.32 Acres
- MLS® #: 23-231909
- 594 S Mapleton Dr
- Los Angeles CA
- $137,500,000
- 14 Bed | 27 Bath | 56,500 SqFt
- 4.6 Acres
- MLS® #: 23-321859
- 9505 Gloaming
- Beverly Hills CA
- $126,000,000
- 8 Bed | 20 Bath | 30,610 SqFt
- 2.19 Acres
- MLS® #: 24-435437
- 1200 Bel Air Rd
- Los Angeles CA
- $119,950,000
- 12 Bed | 17 Bath | 0 SqFt
- 2.08 Acres
- MLS® #: 24-399189
- 10936 Chalon Rd
- Los Angeles CA
- $115,000,000
- 9 Bed | 13 Bath | 14,941 SqFt
- 1.65 Acres
- MLS® #: 24-388903
- 73 Beverly Park Ln
- Beverly Hills CA
- $89,900,000
- 9 Bed | 22 Bath | 28,500 SqFt
- 2.68 Acres
- MLS® #: 24-387189
- 9904 Kip Dr
- Beverly Hills CA
- $88,000,000
- 10 Bed | 22 Bath | 24,757 SqFt
- 19.82 Acres
- MLS® #: 24-412907
- 1420 Davies Dr
- Beverly Hills CA
- $87,000,000
- 8 Bed | 14 Bath | 21,800 SqFt
- 7.8 Acres
- MLS® #: 24-369077
- 1499 Blueridge Dr
- Beverly Hills CA
- $85,000,000
- 13 Bed | 16 Bath | 28,000 SqFt
- 2.2 Acres
- MLS® #: 24-384393
- 27832 Pacific Coast Hwy
- Malibu CA
- $85,000,000
- 6 Bed | 8 Bath | 8,775 SqFt
- 2.27 Acres
- MLS® #: 24-386085
- 107 Delfern Dr
- Los Angeles CA
- $75,000,000
- 10 Bed | 19 Bath | 21,000 SqFt
- 1.88 Acres
- MLS® #: 24-440479
- 22368 Pacific Coast Hwy
- Malibu CA
- $75,000,000
- 9 Bed | 14 Bath | 11,074 SqFt
- 0.59 Acres
- MLS® #: 24-444367
- 24185 Case Ct
- Malibu CA
- $69,500,000
- 5 Bed | 7 Bath | 11,097 SqFt
- 3.89 Acres
- MLS® #: 23-310237
- 9650 Cedarbrook Dr
- Beverly Hills CA
- $68,000,000
- 19 Bed | 33 Bath | 78,000 SqFt
- 27.59 Acres
- MLS® #: 24-404851
- 410 Trousdale Pl
- Beverly Hills CA
- $68,000,000
- 5 Bed | 10 Bath | 18,000 SqFt
- 1.99 Acres
- MLS® #: 24-413783
- 2571 Wallingford Dr
- Beverly Hills CA
- $68,000,000
- 12 Bed | 24 Bath | 38,000 SqFt
- 5.2 Acres
- MLS® #: 22-167741
- 1005 N Alpine DR
- BEVERLY HILLS CA
- $65,000,000
- 4 Bed | 6 Bath | 4,351 SqFt
- 2.66 Acres
- MLS® #: 24-423407
- 29130 Cliffside Dr
- Malibu CA
- $65,000,000
- 5 Bed | 8 Bath | 8,000 SqFt
- 1.01 Acres