Market Report for Santa Monica April 2016
(April 1 through April 30)
The market is vibrant and on an upswing in Santa Monica. Homes are selling and buyers are buying. The new train on Colorado are bringing people from all over the city and is quite appealing to European tourists who are considering buying in the area. S
Several clients in who own real estate in New York City have told me that they will actively start looking for a 2nd home here this summer based on this fact that we have a new train that goes to the arts/museum areas in down town Los Angeles.
I’m excited about the future here for young home buyers in Santa Monica. You can take the train for free on May 20th. There will be festive train parties, celebrations and lots of fun Santa Monica City funded that day and the next day on the 21st.
Please review my Santa Monica Market Analysis for April 2016 and tell me what you think about the local market. I’m all ears, really!
Active Listings Status
128 Listings: Year to Date
26 Days: Average Days on The Market
77 Listings: April 2016 Only
$9,900,000: Highest Priced Listing
$369,000: Lowest Priced Listing
$1,622,000: Medium Listed Price
$2,181,790: Average Listed Price
Backup Offer Status
17 Listings: April 2016 Only
21 Days: Average Days on The Market
$3,600,000: Highest Priced
$479,000: Lowest Priced
$1,099,000: Medium Priced
$1,519,765: Average Priced
Pending Offer Status
12 Listings: April 2016 Only
14 Days: Average Days on The Market
$3,495,000: Highest Priced
$599,000: Lowest Priced
$1,147,000: Medium Priced
$1,447,825: Average Priced
Sold Listing Status
44 Total Closed Sales in April
54 Average Days on the Market
$10,700,000 Highest Priced Sold Listing
$359,000 Lowest Priced Sold Listing
$1,630,000 Medium Priced Sold Listing
$2,160,320 Average Priced Sold Listing
2.909% *Absorption Percentage Rate
*The absorption rate is the rate at which active listed homes are sold in a certain real estate market during a given timeframe. Calculate it by dividing the total number of available homes by the average number of sales per month. The figure shows how many months it will take to clear out the supply of homes in the given market.
Mark Bolender 