Sales fell to 68 homes sold in the Santa Monica market over the last 30 days. Furthermore, a confirmed downturn in the number of pending transactions continued, with 25 completed in the same period. All indications show that the trend may be coming to an end, meaning more pending transactions over the next few weeks. While contracts were soft, months of inventory were further reduced to three, extending a downward trend to four weeks. Despite the falling contracts numbers, the low inventory indicates that Santa Monica is still a seller's market.
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