The median price of a Santa Monica homes has only dropped 2% over the last year.
The number of home sold has increased by 114% over a year ago.
The number of properties going into escrow has increased by 127%.
The number of properties for sale has remained reasonably steady.
The number of new properties being listed each month has also remained pretty steady.
The total inventory of homes has dropped 66%
Supply has stayed the same as compared to the demand, which has risen 114%
Santa Monica homes are staying on the market 44% longer than a year ago.
Overall, the Santa Monica market remains strong. The decrease in inventory should result in a higher demand, and, consequently, higher prices