Is Santa Monica, CA a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Santa Monica is a seller's market


Difference Since October 2022

Since last year, Santa Monica has remained a Seller's Market.

Key Takeaway

Santa Monica is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Santa Monica, CA cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since October 2022


Key Takeaway

Homes in Santa Monica have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Santa Monica was $1,712,500 in October 2023, up 5.4% from last year, and the median price per square foot was $1,062.

Median Sold Price By Bedroom Count

# BEDSOct 2022Oct 2023CHANGE
1 $736.3K$745K
2 $1.3M$1.3M
3 $2.0M$2.0M
4 $3.8M$3.5M
5+ $6.2M$4.5M

Summary: Santa Monica housing prices by bedroom type for October 2023 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 27.4%.

Median Sold Price Compared To Nearby Cities

Santa Monica
Los Angeles

Housing Supply

How many homes are available in Santa Monica, CA?

Number of Homes For Sale

Sep 2023Oct 2023CHANGE

Summary: The Santa Monica real estate market had 264 homes for sale in October 2023, a 5.2% increase compared to September 2023.

Homes For Sale By Bedroom Count

# BEDSSep 2023Oct 2023CHANGE
1 2221
2 9089
3 5664
4 2325
5+ 6065

Summary: The Santa Monica housing inventory by bedroom type for October 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.5%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Sep 2023Oct 2023CHANGE

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Santa Monica, you may be able to get a good deal. 51.1% of homes here sold below asking price last month.

Summary: A total of 45 homes were sold or pending in Santa Monica in October 2023, down by 8.2% month-over-month. Of the 45 sold homes, 51% were sold under asking, 7% were sold at asking, and 42% were sold over asking.

Days on Market

How long does it take to sell a home in Santa Monica, CA?

Average Sale Time

Oct 2022Oct 2023CHANGE
31 Days38 Days+19.8%

Summary: Homes in Santa Monica had an average of 38 days on market in Oct 2023, up by 19.8% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Santa Monica are selling fast, if you're buying plan to act quickly.

Summary: During October 2023, 45 homes were sold in Santa Monica; 60% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

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Nearby Markets

What housing markets are near Santa Monica, CA?