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How is the Santa Monica Real Estate Market? | September 2018

Posted by Jane Peters on November 1, 2018
| 0

Let’s check in on the Santa Monica real estate market for September 2018 and compare it to the same period in 2017.

Santa Monica real estate market September 2018


The number of homes sold in September compared with the same month in 2017 dropped in both categories.

 

Inventory of single family homes increased by 18%, but available condos increased by almost 50%.

 

The median price for single family homes dropped 23.2% and increased 6.7% for condos.

 


The average price of single family homes sold compared with the list price increased slightly. Condos dropped slightly – see the stats below.

 

The average number of days that homes sat on the market dropped slightly. For condos it increased from by 12 days, which together with the slight drop in sold vs list price means that sellers were somewhat overpricing them.

 

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Less than 5 months = sellers’ market | 5 to 7 months = stable market | Over 7 months = buyers’ market

Both categories still favor sellers but are moving slightly towards a more balanced market.

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

There has been no great change in the Santa Monica real estate market and it seems to be following the current trend of more inventory and slowing prices.

 

More Santa Monica market reports

Other neighborhood market reports

 

 

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