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 Market Report
Single Family
Condo
Rental
Land
- MLS® #: 25497697
- 607 Siena Way
- Bel Air CA
- $177,000,000
- 8 Bed | 25 Bath | 35,000 SqFt
- 1.22 Acres
- MLS® #: 24-449959
- 1261 Angelo Dr
- Beverly Hills CA
- $175,000,000
- 16 Bed | 27 Bath | 50,000 SqFt
- 6.03 Acres
- MLS® #: 25516441
- 10644 Bellagio Rd
- Los Angeles CA
- $175,000,000
- 7 Bed | 20 Bath | 0 SqFt
- 8.4 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® #: 25497825
- 729 Bel Air Rd
- Los Angeles CA
- $120,000,000
- 9 Bed | 20 Bath | 18,784 SqFt
- 3.32 Acres
- MLS® #: 25511979
- 10936 Chalon Rd
- Los Angeles CA
- $120,000,000
- 9 Bed | 13 Bath | 14,941 SqFt
- 1.65 Acres
- MLS® #: 25520563
- 1200 Bel Air Rd
- Los Angeles CA
- $118,000,000
- 12 Bed | 17 Bath | 0 SqFt
- 2.08 Acres
- MLS® #: 24-412907
- 1420 Davies Dr
- Beverly Hills CA
- $77,000,000
- 8 Bed | 14 Bath | 21,800 SqFt
- 7.8 Acres
- MLS® #: 25-482497
- 1210 Benedict Canyon Dr
- Beverly Hills CA
- $75,000,000
- 11 Bed | 20 Bath | 27,000 SqFt
- 2.69 Acres
- MLS® #: 25520565
- 9330 Flicker Way
- Los Angeles CA
- $68,000,000
- 9 Bed | 14 Bath | 0 SqFt
- 0.9 Acres
- MLS® #: 25508633
- 71 Beverly Park
- Beverly Hills CA
- $68,000,000
- 12 Bed | 20 Bath | 30,500 SqFt
- 6.14 Acres
- MLS® #: 24-386085
- 107 Delfern Dr
- Los Angeles CA
- $65,000,000
- 10 Bed | 19 Bath | 21,000 SqFt
- 1.88 Acres
- MLS® #: 24-440479
- 22368 Pacific Coast Hwy
- Malibu CA
- $65,000,000
- 9 Bed | 14 Bath | 11,074 SqFt
- 0.59 Acres
- MLS® #: 25494997
- 9214 Nightingale Dr
- West Hollywood CA
- $63,000,000
- 5 Bed | 7 Bath | 13,870 SqFt
- 0.52 Acres
- MLS® #: 24-437007
- 200 S Mapleton Dr
- Los Angeles CA
- $61,500,000
- 10 Bed | 13 Bath | 17,000 SqFt
- 1.3 Acres
- MLS® #: 25536281
- 1101 Bel Air Pl
- Los Angeles CA
- $59,995,000
- 5 Bed | 17 Bath | 24,920 SqFt
- 2.33 Acres
- MLS® #: 24-413783
- 2571 Wallingford Dr
- Beverly Hills CA
- $59,950,000
- 12 Bed | 24 Bath | 38,000 SqFt
- 5.2 Acres
- MLS® #: 24-463937
- 133 S Mapleton DR
- LOS ANGELES CA
- $59,900,000
- 9 Bed | 14 Bath | 26,522 SqFt
- 1.1 Acres
- MLS® #: 25-483555
- 616 N Beverly Dr
- Beverly Hills CA
- $59,500,000
- 7 Bed | 14 Bath | 20,520 SqFt
- 0.91 Acres
- MLS® #: 24-468303
- 29130 Cliffside Dr
- Malibu CA
- $58,000,000
- 5 Bed | 8 Bath | 8,000 SqFt
- 1.01 Acres
- MLS® #: 25521973
- 1005 N Alpine Dr
- Beverly Hills CA
- $55,000,000
- 4 Bed | 6 Bath | 4,351 SqFt
- 2.66 Acres
- MLS® #: 25538697
- 1129 Tower Rd
- Beverly Hills CA
- $55,000,000
- 7 Bed | 14 Bath | 15,000 SqFt
- 1.35 Acres
- MLS® #: 25-476043
- 1108 Wallace Rdg
- Beverly Hills CA
- $53,000,000
- 7 Bed | 14 Bath | 18,169 SqFt
- 0.57 Acres
- MLS® #: 25499497
- 28820 Cliffside Dr
- Malibu CA
- $50,000,000
- Bed | 0 Bath | 0 SqFt
- 1.37 Acres
- MLS® #: 25540667
- 684 Firth Ave
- Los Angeles CA
- $49,999,999
- 6 Bed | 10 Bath | 0 SqFt
- 1.93 Acres
- MLS® #: 25517025
- 10066 Cielo Dr
- Beverly Hills CA
- $49,995,000
- 9 Bed | 18 Bath | 21,000 SqFt
- 3.6 Acres
- MLS® #: 25531613
- 12705 Chalon Rd
- Los Angeles CA
- $49,500,000
- 7 Bed | 11 Bath | 11,449 SqFt
- 2.47 Acres
- MLS® #: 25496269
- 2930 Sweetwater Mesa Rd
- Malibu CA
- $48,000,000
- 6 Bed | 11 Bath | 10,057 SqFt
- 35.32 Acres
- MLS® #: 24-418999
- 780 Tortuoso Way
- Bel Air CA
- $47,000,000
- Bed | 0 Bath | 0 SqFt
- 4.56 Acres
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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).
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