Santa Monica Real Estate Market Report 2018

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 median price for single family homes rose 14% and 3% for condos over the previous year.

 

The average sales price of houses compared with the list price dropped 2% compared with 2017 and dropped almost 1% for condos.

 

The average number of days that homes sat on the market stayed around the same.

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.

The information provided by the MLS/CLAW and 1oK Research deemed reliable but not guaranteed
It will be interesting see what 2019 brings.

 

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