Santa Monica Market Report – Third Quarter ’09

The median price of a Santa Monica homes has only dropped 2% over the last year.

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The number of home sold has increased by 114% over a year ago.

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The number of properties going into escrow has increased by 127%.

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The number of properties for sale has remained reasonably steady.

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The number of new properties being listed each month has also remained pretty steady.

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The total inventory of homes has dropped 66%

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Supply has stayed the same as compared to the demand, which has risen 114%

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Santa Monica homes are staying on the market 44% longer than a year ago.

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Overall, the Santa Monica market remains strong. The decrease in inventory should result in a higher demand, and, consequently, higher prices

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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