Santa Monica Real Estate – Market Report 2011

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

See all Santa Monica Homes for Sale.
(all data current as of 4/24/2014)

  1. 4 beds, 2 full, 2 part baths
    Home size: 156 sq ft
    Lot size: 4,275 sqft
    Year built: 1902
    Days on market: 1
  2. 2 beds, 1 full bath
    Home size: 1,200 sq ft
    Lot size: 5,952 sqft
    Year built: 1946
    Days on market: 1
  3. 2 beds, 1 full, 1 part baths
    Home size: 915 sq ft
    Lot size: 6,786 sqft
    Year built: 1939
    Days on market: 5
  4. 5 beds, 2 full, 3 part baths
    Home size: 4,288 sq ft
    Lot size: 8,691 sqft
    Parking spots: 2
    Days on market: 7
  5. 3 beds, 2 full baths
    Home size: 1,518 sq ft
    Lot size: 4,648 sqft
    Year built: 1947
    Parking spots: 4
    Days on market: 7
  6. 4 beds, 4 full, 1 part baths
    Home size: 6,585 sq ft
    Lot size: 9,003 sqft
    Year built: 1992
    Days on market: 9
  7. 3 beds, 2 full baths
    Home size: 1,392 sq ft
    Lot size: 2,002 sqft
    Year built: 1908
    Days on market: 10
  8. 2 beds, 2 full baths
    Home size: 1,493 sq ft
    Lot size: 6,496 sqft
    Year built: 1938
    Parking spots: 2
    Days on market: 10
  9. 4 beds, 2 full baths
    Home size: 1,399 sq ft
    Lot size: 4,905 sqft
    Year built: 1925
    Parking spots: 2
    Days on market: 14
  10. 3 beds, 2 full baths
    Home size: 1,442 sq ft
    Lot size: 6,120 sqft
    Year built: 1954
    Days on market: 14
  11. 4 beds, 2 full baths
    Home size: 2,006 sq ft
    Lot size: 7,238 sqft
    Year built: 1946
    Days on market: 14
  12. 5 beds, 5 full, 2 part baths
    Home size: 4,874 sq ft
    Lot size: 8,938 sqft
    Year built: 1992
    Parking spots: 2
    Days on market: 21
  13. 3 beds, 2 full baths
    Home size: 2,002 sq ft
    Lot size: 5,075 sqft
    Year built: 1922
    Days on market: 22
  14. 5 beds, 6 full, 2 part baths
    Home size: 5,600 sq ft
    Lot size: 8,344 sqft
    Year built: 2012
    Days on market: 23
  15. 5 beds, 6 full, 1 part baths
    Home size: 4,600 sq ft
    Lot size: 8,724 sqft
    Year built: 1985
    Parking spots: 8
    Days on market: 23

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

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

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.

More Posts - Website - Twitter - Facebook - LinkedIn - Pinterest - Google Plus - YouTube

Add Comment Register



Speak Your Mind

*

The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.

Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).

Date last updated: 4/24/14 4:49 AM PDT

This IDX solution is (c) Diverse Solutions 2014.