Santa Monica single family home sales for August

by WestsideDB on September 1, 2009 · 1 comment

in Local Real Estate Statistics and Trends

Yep.  Today’s the first of September.  Once again, we look back on the real estate activity for homes in Santa Monica.  Check out this market analysis (pulled from my MLS search – let me know if you want something more specific to a zip code or area) but for ease of seeing the macro of activity in Santa Monica, whala!

SM SFR 08 091 Santa Monica single family home sales for August

Santa Monica SFR for August of 2009

More than anything, I love looking at Santa Monica’s sold data.  Because sometimes a seller’s expectations of what their home is worth may not always be in line with what the market will bear. Or perhaps, an agent doesn’t counsel their client well enough for them to understand that they may sit on the market for awhile.  Or, the seller insists on a price that doesn’t bring people in.  Just look at the expired numbers.  135 days on the market.  Geez.  The average person who sold was half that amount of time.

Here’s another interesting look at the past year’s inventory.  Notice that the average number of days on the market is still very low = under 5 months.  Which is very close to a balanced market.  Should it dip further into 1 or 2 months inventory, then we are typically in a seller’s market.  Take a look and leave a comment.  Your last blog post will be shown in the comment – just because we like to spread the commentLUV.

SM SFR Months of inventory 300x182 Santa Monica single family home sales for August

And here are the number of properties sold by month: IMO: (In My Opinion) sales are up.  But you be the judge.

SM SFR Properties sold per month 08 09 300x182 Santa Monica single family home sales for August

SM Sold per month 08-09

pixel Santa Monica single family home sales for August
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{ 1 comment… read it below or add one }

1 Jodi Summers October 6, 2009 at 1:11 am

SANTA MONICA PROPERTY SNAPSHOT – OCTOBER 2009

Nice news in the Santa Monica single family market. Enjoy this interesting statistic – analysis is showing a mere 1% median price drop from September 2007 to September 2009. Pretty wild. Prices were down a mere 1% (as compared to 28% in last month’s statics). Median sale price – still an impressive $1,625,00.

http://www.santamonicapropertyblog.com/?p=1540

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