Santa Monica, CA Real Estate Market

With a competition score of 90 and homes selling in a median of just 11 days, conditions strongly favor sellers in 90401 right now. The gap between the median list price of $1,995,000 and the median sale price of $3,250,000 suggests that high-end properties are commanding significant premiums, so strategic pricing from the start can drive strong outcomes.

Buyers in 90401 should be prepared for a fast-moving market where the median days on market is just 11 days and the competition score sits at 90. With only 22 active listings available and sale prices regularly exceeding list prices, arriving well-prepared and fully pre-approved is essential to staying competitive.

The rental market in 90401 shows 89 rental units available with a median rent of $3,475 per month, and three-bedroom rentals reaching $5,195 per month, pointing to solid income potential for larger units. However, with a median sale price of $3,250,000 and a price per square foot of $988.14, acquisition costs are substantial and investors should model cash flow carefully against current financing rates.

The 30-year fixed mortgage rate currently sits at 6.37% and the 15-year fixed is at 5.72%, both of which add considerable carrying costs on high-priced Santa Monica properties. On a purchase at the median sale price of $3,250,000, even a modest rate movement translates into hundreds of dollars per month, so working closely with a lender on rate lock strategy is a smart move.