Santa Monica Condominium Market Trends Report

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Real Estate Agent with Berkshire Hathaway HomeServices 01238708
https://activerain.com/droplet/57Qz

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 homes@endrebarath.com 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.

 

 

 

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Location:
California Los Angeles County Santa Monica
Groups:
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Local Expert
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HyperLocal Neighborhood and Community Posts
2017 Market Trend Reports
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endre barath berkshire hathaway beverly hills realtor
santa monica condominium market report
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Rainmaker
5,375,753
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families moving to the area will appreciate your local real estate market reports.

Oct 26, 2017 05:27 AM #1
Rainmaker
4,797,261
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Endre.  Thanks for keeping us informed about the condo market in Santa Monica.

Oct 26, 2017 08:25 AM #2
Rainmaker
2,189,769
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

These are great charts, Endre. I see about the same number of closed sales even when the inventory was double that amount, so I don't really know why the prices bumped up 22%.

Oct 26, 2017 12:40 PM #3
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Endre I like the use of charts to illustrate the data.  They make it easy to understand and visualize.

Oct 26, 2017 03:39 PM #4
Rainmaker
3,203,990
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Roy Kelley  always appreciate you stopping in, Endre

Oct 26, 2017 07:01 PM #5
Rainmaker
3,203,990
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Gabe Sanders  Santa Monica is such a Global magnet and many want to live near or at the Ocean , Endre

Oct 26, 2017 07:03 PM #6
Rainmaker
3,203,990
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents  the biggest reason is there is such a demand and if you look at the Days on Market it substantiates this desire, need and want, hence the price increase, Endre

Oct 26, 2017 07:04 PM #7
Rainmaker
3,247,782
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Endre

The Santa Monica California Condominium market is in need of more condos to sell.

Good luck and success.

Lou Ludwig

Oct 26, 2017 07:13 PM #8
Rainmaker
2,497,566
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

If you are considering buying or selling a home in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, call the most knowledgeable agent at 310.486.1002.

Oct 27, 2017 03:38 AM #9
Ambassador
3,310,991
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Great market report, Endre. Values rising, inventory down 32.4% - yes, I'd say Santa Monica Condominiums are in a strong sellers market! And, you're the one with your finger on the pulse of the market - buyers and sellers should contact you for their real estate needs!

Happy Friday, Endre!

Oct 27, 2017 04:43 AM #10
Rainmaker
3,251,397
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Uh oh...it's Thinventory time in the Santa Monica condo market !

Oct 27, 2017 05:07 AM #11
Rainmaker
1,434,002
Yolanda Cordova-Gilbert
Richmond, TX

Endre,

 Good market report on Santa Monica condos...those prices yikes!

Oct 27, 2017 12:18 PM #12
Ambassador
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Endre, nice graphs to go along with your condo report. We see low inventory all around. 

Oct 27, 2017 05:50 PM #13
Rainmaker
752,009
Jane Chaulklin-Schott
TEAMCONNECT REALTY - (407) 394-9766 - Orlando, FL
TeamConnect Luxury Homes - Orlando, Florida, 32836

Endre, thank you for the interesting and comprehensive Market Report of Santa Monica Condominiums for September 2017.  Always appreciate knowing what is going on in different locations throughout the United States.  Have a great weekend, Endre Barath, Jr. .

Oct 27, 2017 11:43 PM #14
Rainmaker
3,331,541
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Endre --- Santa Monica is definitely an interesting real estate market plus a great place to visit and live.   Great information -- nicely presented.  

Oct 28, 2017 08:23 AM #15
Ambassador
1,850,096
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Supply demand at work again driving up the Condo prices in Santa Monica. Wow, nice to be a seller. D 

Oct 28, 2017 09:44 AM #16
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Rainmaker
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Endre Barath, Jr.

Realtor - Los Angeles Home Sales 310.486.1002
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