Less Inventory In Santa Monica Than 2005-2006
Santa Monica currently has less single family residences for sale than in 2005 and 2006 when the market was very strong.
Of the 13 single family homes listed in December, 5 are either in escrow or have sold. The median single family list price in Santa Monica this week is $1,595,000. Despite recently falling prices, the price per square foot has stayed reasonably flat. This implies that there’s a portion of the market being priced at a premium.
By John Skinner
