How did the Santa Monica real estate market do in 2018 compared with the previous year. Let’s take a look.
Please note that the stats below run from January 2018 thru January 2019.
The number of single family homes sold in in 2018 was down 17% over 2017. The number of condos was down 6%.
The average sales price of houses compared with the list price dropped 2% compared with 2017 and dropped almost 1% for condos.
Less than 5 months = sellers’ market | 5 to 7 months = stable market | Over 7 months = buyers’ market
Single family homes have moved into a stable market. The same time last year it heavily favored sellers. Condos stay around the same – a strong sellers’ market.
It will be interesting see what 2019 brings.
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