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How is the Santa Monica Real Estate Market? October 2018

Posted by Jane Peters on November 13, 2018
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Let’s check in on the Santa Monica real estate market for October 2018 and compare it to the same period in 2017 and the previous month.

Santa Monica real estate market September 2018


The number of homes sold in October compared with the same month in 2017 rose slightly in both categories. There were also a few more sales in October compared with September 2018.

 

Inventory of single family homes increased by 25%, and available condos increased by a significant 64%.

 

The median price for single family homes dropped 13% and 24% for condos over the previous year but over the previous month the median price for single family rose 23% but for condos it dropped 20%.

 


The average homes and condos sold compared with the list price stayed around the same. It dropped slightly for single family over the previous month.

 

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 buyers’ market. The same time last year it heavily favored sellers. Condos moved from a heavy sellers’ market to a balanced one.

The information provided by the MLS/CLAW and 1oK Research deemed reliable but not guaranteed

Santa Monica real estate is balancing out overall.

 

More Santa Monica market reports

Other neighborhood market reports

 

 

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