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
Condo
Land
Rental
Single Family- MLS® #: 22-151323
- 33550 PACIFIC COAST HWY
- MALIBU CA
- $225,000,000
- 16 Bed | 22 Bath | 25,025 SqFt
- 4.81 Acres
- MLS® #: 23-231909
- 594 S Mapleton Dr
- Los Angeles CA
- $155,000,000
- 14 Bed | 27 Bath | 56,500 SqFt
- 4.6 Acres
- MLS® #: 22-166189
- 10721 Stradella CT
- LOS ANGELES CA
- $150,000,000
- 9 Bed | 14 Bath | 20,841 SqFt
- 1.15 Acres
- MLS® #: 22-216345
- 1200 Bel Air Rd
- Los Angeles CA
- $139,000,000
- 12 Bed | 17 Bath | 0 SqFt
- 2.08 Acres
- MLS® #: WS23036820MR
- 6300 Stephens Ranch RD
- LA VERNE CA
- $99,000,000
- Bed | 0 Bath | 0 SqFt
- 197 Acres
- MLS® #: 21-101899
- 1420 Davies Dr
- Beverly Hills CA
- $87,000,000
- 8 Bed | 14 Bath | 21,800 SqFt
- 7.8 Acres
- MLS® #: 21-791862
- 1210 Benedict Canyon Dr
- Beverly Hills CA
- $85,000,000
- 11 Bed | 16 Bath | 27,150 SqFt
- 2.69 Acres
- MLS® #: 23-239903
- 107 Delfern Dr
- Los Angeles CA
- $85,000,000
- 10 Bed | 19 Bath | 21,000 SqFt
- 1.88 Acres
- MLS® #: 23-245068
- 25142 Pacific Coast Hwy
- Malibu CA
- $75,000,000
- 7 Bed | 9 Bath | 13,126 SqFt
- 1.73 Acres
- MLS® #: 22-163315
- 2571 WALLINGFORD DR
- BEVERLY HILLS CA
- $74,995,000
- 12 Bed | 24 Bath | 38,000 SqFt
- 5.2 Acres
- MLS® #: 23-240041
- 9330 Flicker Way
- Los Angeles CA
- $72,500,000
- 9 Bed | 14 Bath | 0 SqFt
- 0.9 Acres
- MLS® #: 22-215267
- 32300 Pacific Coast Hwy
- Malibu CA
- $72,000,000
- 8 Bed | 10 Bath | 10,438 SqFt
- 2.79 Acres
- MLS® #: 23-243691
- 24186 CASE CT
- MALIBU CA
- $69,995,000
- 5 Bed | 8 Bath | 10,527 SqFt
- 2.66 Acres
- MLS® #: 23-243887
- 1525 San Vicente Blvd
- Santa Monica CA
- $69,000,000
- 7 Bed | 13 Bath | 22,640 SqFt
- 1.61 Acres
- MLS® #: 23-245455
- 41800 Pacific Coast Hwy
- Malibu CA
- $68,800,000
- 5 Bed | 7 Bath | 8,206 SqFt
- 0.83 Acres
- MLS® #: 23-230943
- 1859 Bel Air Rd
- Los Angeles CA
- $68,000,000
- 9 Bed | 13 Bath | 20,000 SqFt
- 1.39 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® #: 21-705644
- 133 S Mapleton DR
- LOS ANGELES CA
- $65,000,000
- 9 Bed | 14 Bath | 30,000 SqFt
- 1.1 Acres
- MLS® #: 22-174347
- 10250 W Sunset Blvd
- Los Angeles CA
- $65,000,000
- 17 Bed | 25 Bath | 29,108 SqFt
- 2.81 Acres
- MLS® #: 23-243305
- 1678 Alta Mura Rd
- Pacific Palisades CA
- $64,000,000
- 8 Bed | 14 Bath | 16,000 SqFt
- 1.08 Acres
- MLS® #: 22-216111
- 271 S Mapleton Dr
- Los Angeles CA
- $63,000,000
- 8 Bed | 12 Bath | 31,450 SqFt
- 1.4 Acres
- MLS® #: 22-183864
- 24188 Case Ct
- Malibu CA 90265
- $60,000,000
- 4 Bed | 7 Bath | 10,555 SqFt
- 3.45 Acres
- MLS® #: 23-240861
- 10697 Somma Way
- Los Angeles CA
- $59,000,000
- 8 Bed | 21 Bath | 41,000 SqFt
- 1.35 Acres
- MLS® #: SR22243495CN
- 530 S Mapleton DR
- LOS ANGELES CA
- $56,000,000
- 11 Bed | 27 Bath | 33,652 SqFt
- 1 Acres
- MLS® #: 22-208983
- 28034 Sea Lane Dr
- Malibu CA
- $55,000,000
- 3 Bed | 4 Bath | 5,507 SqFt
- 0.72 Acres
- MLS® #: 22-185169
- 277 ST PIERRE RD
- LOS ANGELES CA
- $52,000,000
- 8 Bed | 20 Bath | 36,000 SqFt
- 1.1 Acres
- MLS® #: 23-248967
- 470 Layton Way
- Los Angeles CA
- $52,000,000
- 8 Bed | 10 Bath | 25,000 SqFt
- 4.56 Acres
- MLS® #: 22-181525
- 9000 W 3rd St Penthouse
- Los Angeles CA
- $50,000,000
- 0 Bed | 0 Bath | 12,700 SqFt
- 1.29 Acres
- MLS® #: 23-237947
- 755 Sarbonne Rd
- Los Angeles CA
- $49,995,000
- 6 Bed | 10 Bath | 15,000 SqFt
- 1.04 Acres
- MLS® #: 23-237237
- 55 Beverly Park Way
- Beverly Hills CA
- $48,500,000
- 7 Bed | 12 Bath | 14,239 SqFt
- 2.79 Acres
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CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).