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. 4 beds, 3 full, 1 part baths
    Home size: 3,400 sq ft
    Lot size: 7,493 sqft
    Days on market: 2
  2. 2 beds, 1 full bath
    Home size: 1,158 sq ft
    Lot size: 6,328 sqft
    Year built: 1926
    Days on market: 3
  3. 5 beds, 6 full baths
    Home size: 4,400 sq ft
    Lot size: 3,840 sqft
    Year built: 2009
    Days on market: 3
  4. 4 beds, 3 full baths
    Home size: 2,500 sq ft
    Lot size: 7,028 sqft
    Year built: 1940
    Parking spots: 2
    Days on market: 4
  5. 4 beds, 2 full baths
    Home size: 2,080 sq ft
    Lot size: 7,510 sqft
    Year built: 1923
    Days on market: 5
  6. 4 beds, 1 full bath
    Home size: 1,518 sq ft
    Lot size: 8,528 sqft
    Year built: 1940
    Days on market: 6
  7. 3 beds, 1 full, 1 part baths
    Home size: 1,355 sq ft
    Lot size: 6,007 sqft
    Year built: 1942
    Days on market: 6
  8. 5 beds, 4 full, 2 part baths
    Lot size: 19,484 sqft
    Year built: 1969
    Days on market: 6
  9. 3 beds, 1 full, 2 part baths
    Home size: 1,860 sq ft
    Lot size: 3,741 sqft
    Year built: 1948
    Days on market: 9
  10. 4 beds, 4 full, 1 part baths
    Home size: 4,264 sq ft
    Lot size: 7,016 sqft
    Year built: 2015
    Days on market: 11
  11. 6 beds, 2 full, 2 part baths
    Home size: 2,910 sq ft
    Lot size: 4,789 sqft
    Year built: 1915
    Parking spots: 4
    Days on market: 13
  12. 4 beds, 3 full, 1 part baths
    Home size: 4,047 sq ft
    Lot size: 12,302 sqft
    Year built: 1925
    Days on market: 14
  13. 3 beds, 1 full, 3 part baths
    Lot size: 6,870 sqft
    Year built: 1937
    Days on market: 17
  14. 4 beds, 2 full, 2 part baths
    Home size: 2,519 sq ft
    Lot size: 21,444 sqft
    Year built: 1913
    Days on market: 17
  15. 3 beds, 1 full bath
    Home size: 1,125 sq ft
    Lot size: 6,399 sqft
    Year built: 1947
    Days on market: 19

See all Santa Monica Homes for Sale.
(all data current as of 8/30/2015)

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!

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