Is Santa Monica, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Santa Monica has remained a Seller's Market.
Housing Prices in Santa Monica, CA
How much do homes in Santa Monica, CA cost?
Median Sold Price
$1,789,833
$1,100/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Santa Monica was $1,789,833 in April 2024, up 11.9% from last year, and the median price per square foot was $1,100.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $737K | $750.5K | +1.8% |
2 Bedrooms | $1.3M | $1.5M | +11.1% |
3 Bedrooms | $1.9M | $2.0M | +5.2% |
4 Bedrooms | $3.7M | $3.8M | +1.7% |
5+ Bedrooms | $5.4M | $4.1M | -24.6% |
Summary: Santa Monica housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 24.6%.
Median Sold Price Compared To Nearby Cities
Santa Monica | $1.5M | $1.7M | +11.9% |
Los Angeles | $978.8K | $986.4K | +0.8% |
Housing Supply in Santa Monica, CA
How many homes are available in Santa Monica, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
233 | 290 | +24.5% |
Summary: The Santa Monica real estate market had 290 homes for sale in April 2024, a 24.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 26 | 32 | +23.1% |
2 Bedrooms | 82 | 104 | +26.8% |
3 Bedrooms | 47 | 65 | +38.3% |
4 Bedrooms | 26 | 26 | 0.0% |
5+ Bedrooms | 52 | 63 | +21.2% |
Summary: The Santa Monica housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.1%, 2 bedroom homes increased by 26.8%, 3 bedroom homes increased by 38.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 21.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
38 | 50 | +31.6% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 50 homes were sold or pending in Santa Monica in April 2024, up by 31.6% month-over-month. Of the 50 sold homes, 42% were sold under asking, 14% were sold at asking, and 44% were sold over asking.
Days on Market for Santa Monica, CA
How long does it take to sell a home in Santa Monica, CA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
38 Days | 29 Days | -22.8% |
Summary: Homes in Santa Monica had an average of 29 days on market in Apr 2024, down by 22.8% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 50 homes were sold in Santa Monica; 74% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.