I get kind of excited at the end of the month.  I know, I’m a little weird because I enjoy things like Excel and Numbers and creating things that the eye can easily digest when it comes to real estate figures.  And at the end of the month, I am compelled to do a calculation that few agents actually do – Absorption Rate for Santa Monica homes for sale.  It helps me trend what’s going on in the market.

So just what the hell is going on in the Santa Monica real estate market anyway?  Last month we saw a spike in the single family absorption rate and this month is seems to have come down a bit, in fact by a third.  I decided to include Santa Monica condos for sale as well so we have a more accurate look at the trends.

Picture 4 August Santa Monica Real Estate Recap

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“So what does this mean to me, I’m just selling my home or thinking about selling.” you might be asking yourself.  Well, I would say that we are clearly in the selling season – summer is here and Labor Day is around the corner.  When everyone in Los Angeles comes back from summer vacation, I predict we will see September and October’s numbers come down in these absorption rates.  People will come back to routine and school and getting kids off for their day and start buying the inventory that seems to have jumped in the past few months.  It seems only natural.

Picture 32 August Santa Monica Real Estate Recap

So, if you are contemplating selling your home in this market, the trend is telling us that it is taking longer to sell a home from a supply and demand side. Here comes the honest side of me and sometimes it hurts: As a seller, you have only three things that you control in the sale of your home:

1.  Price.

2.  Condition.

3.  Availability to Show.

The Market will determine everything else.  Have a question?  Drop a comment or use that Google widget up on the right to call me direct.

See you in the neighborhood.

pixel August Santa Monica Real Estate Recap
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