Santa Monica Homes for Sale. The Market Trend

Let’s see the trend for Santa Monica homes for sale over the past year.  Inventory is low, that we know, but how is the median price, how low is the inventory, where was the peak?

Single family homes

13 homes sold in January, up 2 over the January 2012.  This was the most sales per month in a year.

There were 22 properties under contract in January, up 2 over the previous January.   The highest month was October.

Number of homes for sale in January was 64, a 40% drop from the previous January, December and January having the lowest inventory for the year.

The numer of new homes on the market in January was pretty much the average for the year at 30.  Not surprisingly, December was the low with 9.

The median sold price, $2,300,000, was up 26% and the median for sale price was up 13%.

Overall the months supply of inventory dropped 58%.

Check out the market trend of Santa Monica homes for sale

Santa Monica condos for sale

14 homes sold in January, the same number as in January 2012.  Both were the lowest monthly sales for the year.

There were 19 properties under contract in January, down 2 over the previous January, and the lowest figure for the year.   The highest month was March.

Number of condos for sale in January was 64, a 40% drop from the previous January, December and January having the lowest inventory for the year.

The numer of new condos on the market in January a 25% drop of the previous year .  Again, not surprisingly, December was the low with 8.

The median sold price was down 32% and the median for sale price was up 18%.

Overall the months supply of inventory dropped 48%.

Santa Monica condos, a market trend

It can’t be stated enough.  the Santa Monica real estate market needs some healthy new inventory.  Prices are up for single family homes, so it is an excellent time for anyone thinking of selling their home in the area.

Homes for sale in Santa Monica

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.

Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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