SANTA MONICA STATS
2020 vs 2021 (YTD)
Data based on the MLS (Multiple Listing Service)
in the area of SANTA MONICA
During the first 2 months of 2020, 35 homes sold vs 27 homes this year. Most homes sold were 3-4 bedrooms
As for condos, 36 sold in 2020 (JAN+FEB) versus 56 this year. That’s a 56% increase in condo sales from 2020 to 2021. 50% of these condo sales were 2 Bedrooms.
The overall sales (condos+homes) were higher in volume this year so far.
During the first 2 months of 2020, the ratio of homes sold vs condos sold was almost 50/50. Whereas in 2021, 2/3 of properties sold were condos
2020 STATS - (JAN + FEB)
2021 STATS - (Year-to-date)
AVERAGE PRICE OF HOMES SOLD PER BEDROOM COUNT in $
AVERAGE PRICE OF CONDOS SOLD PER BEDROOM COUNT in $
While the average selling price of homes has increased by 27% if we compare 2020 and 2021, the average price of condos sold only increased by 7%. The condo price increase, in reality, includes a decrease of prices by 9% for 2 bedroom condos and less as well as a 40% price increase for 3 bedroom condos. Could that be explained by the fact that buyers needed more space due to stay-at-home order? Or because of the low-interest rates? New opportunities? Decisions to retrieve stock market money to invest in real estate? All of the above?
Now keep in mind that these numbers only include JAN & FEB of 2020/2021. They do not include off-market sales or any sales not recorded in the MLS.
