Sales volume is picking up well in Santa Monica. Volume is up across the board year over year and compared to the previous month. More single family homes and condos were sold in February than in January, even with the shorter month. Unfortunately, prices were down compared versus January. At least they were up compared to the previous year.
These are good signs for the Santa Monica housing market. When volume starts to pick up, prices will soon follow. The inventory will be purchased, so sellers will start to increase prices as the supply-demand curve swings in their favor. Buy now, before the prices start going up.
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