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.
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.
The average sales price of homes and condos compared with the list price stayed around the same. It dropped slightly for single family over the previous month.
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.
Santa Monica real estate is balancing out overall.
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