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
- MLS® #: 24-364831
- 1675 Carla Rdg
- Beverly Hills CA
- $29,995,000
- 4 Bed | 5 Bath | 7,000 SqFt
- 0.58 Acres
- MLS® #: 24-370375
- 380 Trousdale Pl
- Beverly Hills CA
- $29,995,000
- 8 Bed | 13 Bath | 8,922 SqFt
- 0.99 Acres
- MLS® #: 23-318145
- 1362 Bella Oceana Vis
- Pacific Palisades CA
- $29,995,000
- 6 Bed | 12 Bath | 12,900 SqFt
- 0.85 Acres
- MLS® #: 23-301225
- 9669 Oak Pass Rd
- Beverly Hills CA
- $29,950,000
- 8 Bed | 13 Bath | 16,900 SqFt
- 2 Acres
- MLS® #: 24-375983
- 1055 Stradella Rd
- Los Angeles CA
- $29,950,000
- 6 Bed | 11 Bath | 13,600 SqFt
- 0.61 Acres
- MLS® #: 23-302193
- 111 N Mapleton Dr
- Los Angeles CA
- $29,900,000
- 7 Bed | 13 Bath | 14,259 SqFt
- 1.32 Acres
- MLS® #: 23-334665
- 31555 Pacific Coast Hwy
- Malibu CA
- $29,900,000
- 7 Bed | 13 Bath | 12,000 SqFt
- 7.13 Acres
- MLS® #: 24-381351
- 30601 Morning View Dr
- Malibu CA
- $29,800,000
- Bed | 0 Bath | 0 SqFt
- 5.35 Acres
- MLS® #: 24-351529
- 5900 Bonsall Dr
- Malibu CA
- $29,500,000
- 5 Bed | 6 Bath | 7,200 SqFt
- 4 Acres
- MLS® #: 24-376657
- 9705 Oak Pass Rd
- Beverly Hills CA
- $29,500,000
- 7 Bed | 9 Bath | 8,829 SqFt
- 0.58 Acres
- MLS® #: 24-391115
- 5287 Round Meadow Rd
- Hidden Hills CA
- $28,998,000
- 7 Bed | 11 Bath | 16,329 SqFt
- 1.2 Acres
- MLS® #: 24-345587
- 1200 Club View Dr 22
- Los Angeles CA
- $28,950,000
- 4 Bed | 7 Bath | 7,976 SqFt
- 0.57 Acres
- MLS® #: 24-363095
- 545 Chalette Dr
- Beverly Hills CA
- $28,950,000
- 6 Bed | 8 Bath | 10,274 SqFt
- 0.46 Acres
- MLS® #: 23-339263
- 9463 Sunset Blvd
- Beverly Hills CA
- $28,900,000
- 5 Bed | 6 Bath | 7,029 SqFt
- 1.6 Acres
- MLS® #: 24-371965
- 25365 Prado De La Felicidad
- Calabasas CA
- $28,750,000
- 7 Bed | 10 Bath | 16,850 SqFt
- 1.11 Acres
- MLS® #: 23-329165
- 6889 Dume Dr
- Malibu CA
- $28,500,000
- 6 Bed | 8 Bath | 8,500 SqFt
- 2.14 Acres
- MLS® #: 24-388413
- 783 Bel Air Rd
- Los Angeles CA
- $27,950,000
- Bed | 0 Bath | 0 SqFt
- 1.41 Acres
- MLS® #: 23-292717
- 1940 Bel Air Rd
- Los Angeles CA
- $27,900,000
- 8 Bed | 15 Bath | 17,013 SqFt
- 0.59 Acres
- MLS® #: 24-388675
- 13187 Chalon Rd
- Los Angeles CA
- $27,688,000
- 7 Bed | 9 Bath | 14,000 SqFt
- 1.31 Acres
- MLS® #: 23-292983
- 788 Tortuoso Way
- Bel Air CA
- $27,000,000
- Bed | 0 Bath | 0 SqFt
- 2.97 Acres
- MLS® #: 22-181525
- 9000 W 3rd St Penthouse
- Los Angeles CA
- $27,000,000
- 0 Bed | 0 Bath | 12,700 SqFt
- 1.29 Acres
- MLS® #: 23-327461
- 14330 W Sunset Blvd
- Pacific Palisades CA
- $26,995,000
- 7 Bed | 13 Bath | 15,100 SqFt
- 1 Acres
- MLS® #: 23-342069
- 1375 N Doheny Dr
- Los Angeles CA
- $26,995,000
- 5 Bed | 9 Bath | 10,613 SqFt
- 0.4 Acres
- MLS® #: 24-386149
- 141 N Bentley Ave
- Los Angeles CA
- $26,995,000
- 7 Bed | 10 Bath | 9,040 SqFt
- 0.68 Acres
- MLS® #: 24-369809
- 362 Copa De Oro Rd
- Los Angeles CA
- $26,985,000
- 6 Bed | 9 Bath | 11,664 SqFt
- 1.81 Acres
- MLS® #: 24-380263
- 4750 Encino Ave
- Encino CA
- $26,500,000
- 12 Bed | 13 Bath | 0 SqFt
- 1.48 Acres
- MLS® #: 24-375613
- 499 Halvern Dr
- Los Angeles CA
- $26,000,000
- 8 Bed | 16 Bath | 12,800 SqFt
- 0.86 Acres
- MLS® #: 24-356053
- 3314 Serra Rd
- Malibu CA
- $26,000,000
- 6 Bed | 9 Bath | 11,358 SqFt
- 3.93 Acres
- MLS® #: 24-368931
- 11865 Ellice St
- Malibu CA
- $25,995,000
- 6 Bed | 9 Bath | 14,429 SqFt
- 2.48 Acres
- MLS® #: AR23230008MR
- 3035 San Gabriel BLVD
- ROSEMEAD CA
- $25,888,000
- Bed | 0 Bath | 0 SqFt
- 5 Acres
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