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® #: 25493687
- 1220 Sunset Plaza Dr
- Los Angeles CA
- $50,000,000
- 6 Bed | 7 Bath | 11,412 SqFt
- 2.3 Acres
- MLS® #: 25499293
- 28820 Cliffside Dr
- Malibu CA
- $50,000,000
- 4 Bed | 7 Bath | 8,632 SqFt
- 1.37 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
- MLS® #: 25502639
- 470 Layton Way
- Los Angeles CA
- $47,000,000
- 8 Bed | 10 Bath | 25,000 SqFt
- 0 Acres
- MLS® #: 24-410561
- 5878 Deerhead Rd
- Malibu CA
- $45,000,000
- 5 Bed | 9 Bath | 11,343 SqFt
- 2.31 Acres
- MLS® #: 25-479849
- 8741 St Ives Dr
- Los Angeles CA
- $44,500,000
- 5 Bed | 9 Bath | 14,400 SqFt
- 1 Acres
- MLS® #: SB24213265MR
- 750 N Fransisca Ave
- REDONDO BEACH CA
- $41,000,000
- Bed | 0 Bath | 0 SqFt
- 2 Acres
- MLS® #: 25496879
- 1005 Bel Air Ct
- Los Angeles CA
- $40,995,000
- 8 Bed | 11 Bath | 11,015 SqFt
- 7.56 Acres
- MLS® #: 25499907
- 728 Linda Flora Dr
- Los Angeles CA
- $40,000,000
- 8 Bed | 12 Bath | 15,520 SqFt
- 0.82 Acres
- MLS® #: 24-473227
- 11968 Brentridge Dr
- Los Angeles CA
- $40,000,000
- 8 Bed | 11 Bath | 12,587 SqFt
- 1.2 Acres
- MLS® #: SW24240221MR
- 0 Corner of 240th St E and Avenue P
- PALMDALE CA
- $40,000,000
- Bed | 0 Bath | 0 SqFt
- 160 Acres
- MLS® #: SR25008578MR
- 24255 Bridle Trail RD
- HIDDEN HILLS CA
- $39,995,000
- 7 Bed | 11 Bath | 20,018 SqFt
- 3 Acres
- MLS® #: 24-463107
- 677 Nimes Rd
- Los Angeles CA
- $39,995,000
- 6 Bed | 11 Bath | 20,000 SqFt
- 0.74 Acres
- MLS® #: 24-462179
- 1001 Linda Flora Dr
- Los Angeles CA
- $39,995,000
- 8 Bed | 11 Bath | 15,023 SqFt
- 1.66 Acres
- MLS® #: 25-487609
- 16187 Royal Oak Rd
- Encino CA
- $39,995,000
- 8 Bed | 11 Bath | 19,766 SqFt
- 1.9 Acres
- MLS® #: 24-371639
- 15210 Antelo Pl
- Los Angeles CA
- $39,985,000
- 7 Bed | 15 Bath | 15,042 SqFt
- 3.22 Acres
- MLS® #: 25497031
- 1047 N Bundy Dr
- Los Angeles CA
- $39,950,000
- 7 Bed | 11 Bath | 16,672 SqFt
- 1.27 Acres
- MLS® #: 25498363
- 1625 Summitridge Dr
- Beverly Hills CA
- $39,950,000
- 7 Bed | 11 Bath | 19,000 SqFt
- 0.79 Acres
- MLS® #: 25-483567
- 23956 Malibu Rd
- Malibu CA
- $39,500,000
- 5 Bed | 6 Bath | 4,240 SqFt
- 0.3 Acres
- MLS® #: 22-136367
- 1 Senderos Canyon
- BEL AIR CA
- $39,000,000
- Bed | 0 Bath | 0 SqFt
- 263 Acres
- MLS® #: 25509237
- 10250 W Sunset Blvd
- Los Angeles CA
- $39,000,000
- 14 Bed | 25 Bath | 30,000 SqFt
- 2.81 Acres
- MLS® #: 25510199
- 23812 Malibu Rd
- Malibu CA
- $38,995,000
- 6 Bed | 8 Bath | 4,551 SqFt
- 0.25 Acres
- MLS® #: 25-479193
- 1120 Wallace Rdg
- Beverly Hills CA
- $38,750,000
- 5 Bed | 7 Bath | 7,000 SqFt
- 0.71 Acres
- MLS® #: 24-445631
- 1012 Wallace Rdg
- Beverly Hills CA
- $38,000,000
- 5 Bed | 6 Bath | 5,500 SqFt
- 0.83 Acres
- MLS® #: 25490701
- 917 N Crescent Dr
- Beverly Hills CA
- $38,000,000
- 6 Bed | 10 Bath | 15,096 SqFt
- 0.52 Acres
- MLS® #: 25501349
- 10697 Somma Way
- Los Angeles CA
- $38,000,000
- 8 Bed | 21 Bath | 41,000 SqFt
- 0 Acres
- MLS® #: 24-442013
- 615 N Faring Rd
- Los Angeles CA
- $37,995,000
- 6 Bed | 12 Bath | 17,661 SqFt
- 0.69 Acres
- MLS® #: 24-385149
- 28926 Cliffside Dr
- Malibu CA
- $37,500,000
- 4 Bed | 5 Bath | 0 SqFt
- 1.05 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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