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.