Let’s take a look at the Santa Monica real estate market for the Quarter to the end of October 2016, compared with the same period in 2015. This is important if you are thinking of buying or selling a home in the city.
Santa Monica homes sold
Closed sales for single family homes are up over the same period last year. Condo sales are down.
Santa Monica median home price
The median price for single family homes is up significantly over 2015. The condo median price is down.
Santa Monica homes active listings
Inventory of single family homes is down in both categories.
Santa Monica months supply of housing inventory
Months supply of inventory denotes the number of months it will take to sell the existing homes on the market: 1-4 months = sellers’ market; 5-7 months = balanced market; over 7 months = buyers’ market.
The Santa Monica housing market remains a seller’s market.
Information taken from the MLS InfoSparks© 2016 Showing Time deemed reliable but not guaranteed
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