Santa Monica Real Estate – Market Report 2011

Originally posted on January 03, 2012


It is that time of the year again, the beginning of a new one, and time to look back at how the Santa Monica real estate market fared in 2011.

Since Santa Monica is made up of diverse neighborhoods I have split the report into single family by price and condos.Santa Monica Community, Santa Monica Homes for Sale

What is Market Absorption?

Market absorption trends show the rate that properties are selling compared with inventory which enables us to see if it is a sellers’ or buyers’ market.

6 months worth of inventory is a balanced market.  Under 6 months is a sellers’ market, and anything over 6 months is a buyers’ market.

So how is the Santa Monica real estate market doing?

Santa Monica Real Estate Market Report Homes Under $2M

Santa Monica Real Estate Market Report 2011

Santa Monica Real Estate Market Report 2011 | Homes over $5M

Surprisingly, the under $2M Santa Monica single family home market showing a bigger drop than the higher end homes, although both are showing a larger decrease over 2011.  The median price is down at the lower end, but the sales vs list price is slightly up, indicating that homes priced well are selling close to asking.  Also, with inventory at around 2 months, Santa Monica home sellers should consider this a good time to put their homes on the market.

The higher end market is a buyers’ market

Santa Monica Condos | Market Report 2011

Santa Monica condos are also showing a decrease across the board, number of sales, median price, and sales to list price, but the inventory is low, so if you are thinking of selling a Santa Monica condo  now would be a good time.

Previous Santa Monica Housing Market Reports

Santa Monica Market Report September 2011

Real Estate in Santa Monica Half Yearly Market Report

Santa Monica Real Estate First Quarter 2011  Market Report

Search Homes for Sale in Santa Monica

  1. 2 beds, 2 full, 1 part baths
    Lot size: 9,475 sqft
    Year built: 1923
    Days on market: 6
  2. 3 beds, 2 full baths
    Home size: 2,457 sq ft
    Lot size: 9,474 sqft
    Year built: 1946
    Days on market: 7
  3. 5 beds, 5 full, 1 part baths
    Home size: 4,600 sq ft
    Lot size: 7,560 sqft
    Year built: 1999
    Parking spots: 5
    Days on market: 10
  4. 3 beds, 2 full baths
    Home size: 1,136 sq ft
    Lot size: 1,993 sqft
    Year built: 1946
    Days on market: 12
  5. 3 beds, 2 full baths
    Home size: 1,444 sq ft
    Lot size: 7,759 sqft
    Year built: 1927
    Days on market: 12
  6. 4 beds, 3 full baths
    Home size: 2,629 sq ft
    Lot size: 8,956 sqft
    Year built: 1930
    Parking spots: 4
    Days on market: 12
  7. 2 beds, 1 full bath
    Home size: 1,038 sq ft
    Lot size: 4,642 sqft
    Year built: 1938
    Days on market: 12
  8. 3 beds, 1 full, 1 part baths
    Home size: 1,355 sq ft
    Lot size: 6,007 sqft
    Year built: 1942
    Days on market: 13
  9. 4 beds, 2 full baths
    Home size: 1,600 sq ft
    Lot size: 9,022 sqft
    Year built: 1946
    Days on market: 14
  10. 1 bed, 1 full bath
    Home size: 579 sq ft
    Lot size: 3,730 sqft
    Year built: 1954
    Days on market: 14
  11. 4 beds, 6 full, 1 part baths
    Home size: 6,072 sq ft
    Lot size: 7,500 sqft
    Year built: 2004
    Days on market: 18
  12. 3 beds, 1 full, 1 part baths
    Home size: 1,224 sq ft
    Lot size: 5,303 sqft
    Year built: 1952
    Days on market: 19
  13. 4 beds, 2 full, 1 part baths
    Home size: 2,311 sq ft
    Lot size: 6,995 sqft
    Year built: 1938
    Days on market: 19
  14. 7 beds, 5 full baths
    Home size: 4,362 sq ft
    Lot size: 11,043 sqft
    Year built: 1968
    Parking spots: 4
    Days on market: 19
  15. 3 beds, 2 full, 1 part baths
    Home size: 1,897 sq ft
    Lot size: 6,992 sqft
    Year built: 1946
    Parking spots: 4
    Days on market: 20

See all Santa Monica Homes for Sale.
(all data current as of 7/29/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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