Santa Monica & Brentwood Real Estate Update

The Westside of Los Angeles, particularly Santa Monica and Brentwood, is experiencing notable shifts in the real estate market as we move into the busy Spring and Summer seasons. The aftermath of the Palisades and Malibu fires has reshaped buyer demand, driving competition and impacting pricing. Here’s what to expect in these key Westside neighborhoods.

Current Market Snapshot - February & March 2025/ Single Family Home Sales

Santa Monica the average price of a home in Feburary 2025 surged 87% (compared to February 2024) to $6M. Homes this past February sold in an average of 25 days (down 22% from 32 days compared to February 2024). However in March, the average sold price was $4.2M, down 5% from March 2024. Home in March sold quickly however, in 19 days, compared to 42 days in March 2024 (a reduction of 55%) signalling strong demand.
Brentwood the average sold price of home in Feburary 2025 was $7.3M (up 8% compared to February 2024). The average days on market in February was 26 days (down 18% from Feb. 2024). In March 2025, the average sold price of a home was $6.2M up 62% from March 2024. The average days on market was 40 days up 25% compared to March 2024.
February & March 2025 / Condo Sales
Santa Monica in February, condo prices surged to $1.790M. This is a 37% increase compared to February of 2024. Days on market fell to 49 days, a 21% decrease compared to the February 2024. In March the price of condos were $1.66M an 8% increase compared to March 2024. The days on market however increased to 62, a 38% increase compared to March 2024.
Brentwood in February, the average price of a condo jumped to $2M, showing a 77% increase in price compared to Febuary 2024. Days on market in February sharply declined compared to the year before to 32 (a 50% decrease). In March, the days on market went from 29 days in March 2024 to 21 days. That's a 28% decrease. The average price of a condo in Brentwood in March was $1.35M a sharp decline from the month before but an increase of 15% compared to March 2024.
Market Drivers: The recent fires have displaced homeowners from affected areas, increasing demand in nearby communities like Santa Monica and Brentwood, further tightening inventory. Although prices and days on market seem to have calmed a little in these areas there is still strong demand for homes & condos that are priced well and are in excellent showing condition.

What Buyers Should Expect

Competitive Market: With increased interest in fire-unaffected areas, buyers should be prepared for strong competition, particularly for move-in-ready homes.
Limited Inventory: While more listings are expected this season, demand remains high, keeping supply tight.
Potential Rate Relief: Mortgage rates may stabilize or slightly decrease, providing more affordability but still remaining above historic lows.

Opportunities for Sellers

Strong Pricing Trends: With median prices rising and high demand, sellers in Santa Monica and Brentwood are in a favorable position.
Luxury Market Strength: High-end homes continue to attract affluent buyers, particularly those looking to relocate from fire-impacted areas.
Maximizing Value: Move-in-ready homes with desirable upgrades and staging are selling quickly and often receiving multiple offers.

Looking Ahead

The Westside market is expected to stay competitive through summer 2025, particularly in Santa Monica and Brentwood, where demand remains strong. Whether you're looking to buy or sell, understanding these trends will help you navigate the evolving real estate landscape.

Thinking about making a move? Let’s connect to discuss your best strategy in today’s market!