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The state of real estate in Santa Monica

10/20/2023 9:13 AM | Margaret Fulton (Administrator)

Santa Monica’s real estate market may have peaked recently as local realtors say the combination of high interest rates, taxes, cost of living expenses and general instability are starting to weigh the business.

No one is predicting a real estate crash in the city by the sea, but there are early signs of a softening market with an increase in the number of days homes are for sale and fewer homes selling at or above their listed price.

The root of the current market lethargy is a near record interest rate.

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