Santa Monica Condominium Market Trends Report
Inventory remains tight, few listings on the market:
As you can see it is a huge drop of what is available for sale compared to the last two years.
As far as closed transactions virtually identical to last year. Clearly this is an indication that the Santa Monica Condominium is in a sellers market!
If there was any doubt you can see the Median Days on market is only 14 days. That is basically an extremely fast market! Those of us who watch the inventory and the activity totally get it. There are some buyers who have missed out on more than five properties are now seasoned and understand the market as well as their agents.
Not surprisingly in a fast low inventory market the prices would be higher. So if you are a seller this is a great time to take advantage of this fast Condominium Market. If you are a buyer you need to be ready with solid financing and motivation. Often we advise our buyers to offer more now because it will be less expensive to buy now than the next time when the price would be higher for the next property.
Some people prefer to see the Price Per Square Foot and clearly it confirms the sales price statistics above.
If you would like a private consultation about the value of your Santa Monica Condominium feel free to reach out to me directly!
If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 (m) or firstname.lastname@example.org or visit one of my websites at http://www.endrebarath.com. I am a Pet Friendly Realtor and I contribute a portion of my commission to local animal rescue organizations.