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.
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?
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 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
- MLS® #: 23-331473
- 10644 Bellagio Rd
- Los Angeles CA
- $195,000,000
- 7 Bed | 20 Bath | 0 SqFt
- 8.4 Acres
- MLS® #: 24-386575
- 729 Bel Air Rd
- Los Angeles CA
- $150,000,000
- 9 Bed | 20 Bath | 18,784 SqFt
- 3.32 Acres
- MLS® #: 23-231909
- 594 S Mapleton Dr
- Los Angeles CA
- $137,500,000
- 14 Bed | 27 Bath | 56,500 SqFt
- 4.6 Acres
- MLS® #: 23-321859
- 9505 Gloaming
- Beverly Hills CA
- $126,000,000
- 8 Bed | 20 Bath | 30,610 SqFt
- 2.19 Acres
- MLS® #: 23-282597
- 24168 Case Ct
- Malibu CA
- $95,000,000
- 7 Bed | 8 Bath | 10,272 SqFt
- 3.35 Acres
- MLS® #: 24-388903
- 73 Beverly Park Ln
- Beverly Hills CA
- $89,900,000
- 9 Bed | 22 Bath | 28,500 SqFt
- 2.68 Acres
- MLS® #: 24-387189
- 9904 Kip Dr
- Beverly Hills CA
- $88,000,000
- 10 Bed | 22 Bath | 24,757 SqFt
- 19.82 Acres
- MLS® #: 24-384393
- 27832 Pacific Coast Hwy
- Malibu CA
- $85,000,000
- 6 Bed | 8 Bath | 8,775 SqFt
- 2.27 Acres
- MLS® #: 23-313098
- 1028 Ridgedale Dr
- Beverly Hills CA
- $85,000,000
- 12 Bed | 18 Bath | 24,325 SqFt
- 0.95 Acres
- MLS® #: 24-369077
- 1499 Blueridge Dr
- Beverly Hills CA
- $85,000,000
- 13 Bed | 16 Bath | 28,000 SqFt
- 2.2 Acres
- MLS® #: 23-245068
- 25142 Pacific Coast Hwy
- Malibu CA
- $75,000,000
- 7 Bed | 9 Bath | 13,126 SqFt
- 1.73 Acres
- MLS® #: 24-386085
- 107 Delfern Dr
- Los Angeles CA
- $75,000,000
- 10 Bed | 19 Bath | 21,000 SqFt
- 1.88 Acres
- MLS® #: 24-376821
- 9330 Flicker Way
- Los Angeles CA
- $72,500,000
- 9 Bed | 14 Bath | 24,000 SqFt
- 0.91 Acres
- MLS® #: 23-278179
- 24185 Case Ct
- Malibu CA
- $69,500,000
- 5 Bed | 7 Bath | 11,097 SqFt
- 3.88 Acres
- MLS® #: 24-350817
- 11740 Crescenda St
- Los Angeles CA
- $69,500,000
- 8 Bed | 13 Bath | 20,000 SqFt
- 3.54 Acres
- MLS® #: 23-310237
- 9650 Cedarbrook Dr
- Beverly Hills CA
- $68,000,000
- 19 Bed | 33 Bath | 78,000 SqFt
- 27.59 Acres
- MLS® #: 24-370907
- 942 N Alpine Dr
- Beverly Hills CA
- $68,000,000
- 5 Bed | 7 Bath | 12,294 SqFt
- 0.85 Acres
- MLS® #: 24-357985
- 684 Firth Ave
- Los Angeles CA
- $68,000,000
- 6 Bed | 10 Bath | 14,779 SqFt
- 1.93 Acres
- MLS® #: 24-343930
- 28026 Sea Lane Dr
- Malibu CA
- $67,500,000
- 4 Bed | 5 Bath | 3,795 SqFt
- 0.43 Acres
- MLS® #: 22-167741
- 1005 N Alpine DR
- BEVERLY HILLS CA
- $65,000,000
- 4 Bed | 6 Bath | 4,351 SqFt
- 2.66 Acres
- MLS® #: 23-260091
- 9609 Oak Pass Rd
- Beverly Hills CA
- $65,000,000
- 17 Bed | 19 Bath | 0 SqFt
- 3 Acres
- MLS® #: 24-348129
- 1210 Benedict Canyon Dr
- Beverly Hills CA
- $65,000,000
- 11 Bed | 16 Bath | 27,150 SqFt
- 2.69 Acres
- MLS® #: 23-306545
- 912 Benedict Canyon Dr
- Beverly Hills CA
- $64,000,000
- 7 Bed | 15 Bath | 17,005 SqFt
- 1.15 Acres
- MLS® #: 24-375075
- 271 S Mapleton Dr
- Los Angeles CA
- $62,500,000
- 8 Bed | 12 Bath | 31,450 SqFt
- 1.4 Acres
- MLS® #: 22-183864
- 24188 Case Ct
- Malibu CA
- $60,000,000
- 4 Bed | 7 Bath | 10,555 SqFt
- 3.45 Acres
- MLS® #: 24-387739
- 1525 San Vicente Blvd
- Santa Monica CA
- $59,950,000
- 7 Bed | 13 Bath | 22,640 SqFt
- 1.61 Acres
- MLS® #: 24-363261
- 31272 Broad Beach Rd
- Malibu CA
- $59,500,000
- 6 Bed | 9 Bath | 12,301 SqFt
- 1.09 Acres
- MLS® #: 24-369323
- 1859 Bel Air Rd
- Los Angeles CA
- $58,000,000
- 9 Bed | 13 Bath | 20,000 SqFt
- 1.39 Acres
- MLS® #: 24-351991
- 27910 Pacific Coast Highway
- Malibu CA
- $54,950,000
- 4 Bed | 7 Bath | 5,154 SqFt
- 2.28 Acres
- MLS® #: 23-271023
- 1220 Sunset Plaza Dr
- Los Angeles CA
- $50,000,000
- 6 Bed | 7 Bath | 11,412 SqFt
- 2.3 Acres
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