subject: Santa Monica Real Estate Market Comparison Report (march 2009 Vs. March 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of Santa Monica Real Estate Market comparing March 2009 to March 2010.
Summary of Key Points
Santa Monica Real Estate has Not shown any majorl signs of improvement with median sales price falling as compared to last year .Median days on the market went up and sellers received 98% of asking price as compared to 99% last year.
Key Statistics, Santa Monica, CA: Median Sales Price (-18.06%), Median Days on Market (31.14%), and Number of Units Sold (200.00%), Sales Price to List Price Ratio (March 09 99% - March 10 98%)
Santa Monica Real Estate
The city of Santa Monica experienced a 18.06% decrease in median sales price from last year going down from $1,630,000 (March 09) to $1,335,567 (March 2010). Median days on market data for Santa Monica show that houses are selling slower than March 09. It took 55 days in March 09 for a house to sell and for March 10 that number has gone up to 72 days (a 31.14% deterioration). Another important factor to consider is total number of units sold. In the month of March 09, 5 units were sold compared to 15 for March 10 (200.00% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Santa Monica. SP/LP ratio for March 09 was 99% compared to 98% for March 10.
Lets take a brief look at neighbors Culver City and Torrance. Culver City Real Estate featured a 10.58% increase in median sales price ($590,816 March 09 - $653,333 March 10) and Torrance Real Estate saw a 0.53% increase ($572,575 March 09 - $575,590 March 10). Are houses in Culver City and Torrance selling faster or slower this year? Well, Culver City experienced a 25.64% increase (69 to 87 days) in median days on market and Torrance saw a 25.52% decrease (63 to 47 days). In the units sold category, Culver City sold 7 units less (-53.85%) in March 2010 than 09 and Torrance sold 25 units more (52.08%) in March 2010 than March 09.
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