Should I Sell My Santa Monica Home Now or Wait? What Today’s Market Means for Sellers

If you own a home in Santa Monica or on the Westside of Los Angeles, you may be asking yourself a deceptively simple question:

Should I sell now—or should I wait?

Maybe you are watching mortgage rates. Maybe you are wondering whether prices will rise. Maybe you are hoping for a stronger spring market. Or maybe life is already telling you it is time to make a move, but you are afraid of choosing the wrong moment.

Here is the truth:

There is no single “perfect” time to sell. There is only the right time for your goals, your property, and your next move.

And in today’s Santa Monica market, strategy matters more than ever.

Explore the Homeowner IQ Blog for more seller resources and expert advice.

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What Is the Santa Monica Housing Market Like Right Now?

Santa Monica remains a high-value, highly desirable coastal market, but today’s buyers are more selective and more payment-conscious than they were during the ultra-competitive pandemic years.

Recent market data helps explain why sellers need to look beyond headlines.

Redfin reports that Santa Monica homes have recently sold for a median price of about $1.7 million, with homes taking roughly 47 days to sell on average.

Zillow reports an average Santa Monica home value of approximately $1.70 million as of June 2026, up about 0.8% over the previous year, with homes going pending in around 29 days.

That tells us something important:

Buyers are still buying, but they are not automatically rewarding every listing.

Homes that are priced correctly, presented well and positioned intelligently can have a very different experience from homes that enter the market overpriced or underprepared.

And Santa Monica is not one market.

A North of Montana single-family home, an Ocean Park bungalow, a Wilshire-area condo and a luxury property near the coast can behave very differently.

For example, Zillow reported an average North of Montana home value of approximately $4.93 million as of June 2026, illustrating how dramatically values can vary even within Santa Monica.

That is why deciding whether to sell should begin with your property and your micro-market, not a national headline.

Mortgage Rates Matter—But They Are Only One Part of the Decision

Mortgage rates remain one of the biggest factors influencing buyer affordability.

Freddie Mac reported the average 30-year fixed mortgage rate at 6.66% on July 30, 2026.

Higher rates can reduce purchasing power.

That can make buyers:

• more price-sensitive,
• more willing to negotiate,
• more selective about condition,
• more cautious about repairs,
• and less forgiving of an overpriced listing.

But higher rates have not eliminated demand.

California existing single-family home sales were up 5.1% year over year in May 2026, while the statewide median price reached a record $930,260, according to the California Association of REALTORS®.

For Santa Monica sellers, the takeaway is not:

“Rates are high, so don’t sell.”

The takeaway is:

You need to position your home for the buyers who are actually in the market today.

So, Is Now a Good Time to Sell a Home in Santa Monica?

For many homeowners, yes.

But that does not mean every homeowner should sell today.

A strong reason to sell might be that:

• your home no longer fits your lifestyle,
• you are ready to downsize,
• you are relocating,
• you want to unlock equity,
• you no longer want to maintain the property,
• you are carrying expenses you would rather eliminate,
• you own an investment property you are ready to exit,
• or you are simply ready for the next chapter.

If one of those reasons already exists, waiting for a theoretical “perfect market” may not necessarily improve your position.

The more useful question is:

What would waiting accomplish for you?

What If I Wait for Mortgage Rates to Fall?

This is one of the most common reasons homeowners give for waiting.

You might think:

“If rates come down, more buyers will be able to afford my home, so I should get a better price.”

That is possible.

But the housing market does not change one variable at a time.

If rates fall significantly:

• more buyers may enter the market,
• more homeowners may decide to list,
• competition among listings could increase,
• home prices could rise,
• prices could flatten,
• or other economic conditions could change.

Waiting for lower rates is therefore not automatically a strategy.

It is a bet on several future conditions moving in your favor at the same time.

What Does It Cost You to Wait?

This is where many sellers focus on the wrong number.

They think only about the future sale price.

But if you wait another year, you may also spend another year paying:

• mortgage interest,
• property taxes,
• homeowners insurance,
• HOA dues,
• landscaping,
• utilities,
• maintenance,
• repairs,
• and other carrying costs.

There is also the opportunity cost of keeping your equity tied up in the property.

Suppose your home eventually sells for more next year.

That sounds like a win.

But if you spent a substantial amount carrying the property during that year, the higher sale price may not mean your net result improved.

That is why sellers should think about net proceeds, not simply the headline sale price.

What If I Have a Lot of Equity?

Many longtime Santa Monica homeowners have accumulated significant equity.

That creates an important strategic question:

Do you want your equity to remain in the property, or could it serve you better somewhere else?

For one homeowner, staying may be the smartest financial and lifestyle decision.

For another, selling may allow them to:

• downsize,
• reduce monthly expenses,
• relocate,
• purchase another property,
• eliminate debt,
• diversify investments,
• help family,
• or simply create more flexibility.

A home is deeply personal.

But it is also often one of your largest financial assets.

The decision deserves to consider both.

Should I Wait Until Spring to Sell?

Not automatically.

Spring is traditionally associated with higher housing activity, but Santa Monica does not simply shut down outside the spring selling season.

Serious buyers purchase homes throughout the year.

Sometimes a seller may even benefit from entering the market when there are fewer competing homes available.

The better question is not simply:

“What month should I sell?”

It is:

“When can my property enter the market in the strongest possible competitive position?”

That includes your timing, property condition, pricing, competition and personal goals.

Today’s Buyers Are More Selective

When borrowing costs are higher, buyers tend to scrutinize listings more carefully.

That makes presentation increasingly important.

A home that is:

• clean,
• prepared thoughtfully,
• staged appropriately,
• professionally photographed,
• marketed effectively,
• and priced strategically

can stand apart from competing properties.

This is especially important because buyers often see your property online long before they ever schedule a showing.

Your first showing may happen on a phone screen.

And you usually only get one true market launch.

Pricing Matters Even More in a Selective Market

One strategy I would be cautious about today is:

“Let’s price it high and see what happens.”

Buyers now have immediate access to:

• competing listings,
• recent sales,
• listing history,
• price reductions,
• days on market,
• neighborhood inventory,
• and automated estimates.

An overpriced property can sit.

And once it sits, buyers may begin asking:

“Why hasn’t anyone bought it?”

That perception can eventually become more expensive than pricing the home correctly from the beginning.

Strong pricing does not mean giving your home away.

It means positioning the property where buyers recognize value and qualified purchasers are motivated to act.

Five Questions to Ask Before You Decide

Before deciding whether to sell now or wait, ask yourself:

1. Why am I considering selling?

Is there a real lifestyle, financial, family or housing reason?

2. What happens after I sell?

Will you buy another home, rent, relocate, downsize, invest or hold the proceeds?

3. What is my home realistically worth today?

Not just an online estimate.

What would qualified buyers likely pay for your specific property in the current Santa Monica or Westside market?

4. What would I actually walk away with?

Sale price and net proceeds are two very different numbers.

5. What exactly am I waiting for?

Lower rates?

Higher prices?

More inventory?

Less competition?

A life event?

And if that event happens, will it actually improve your position?

If you cannot clearly identify what waiting is supposed to accomplish, waiting may not actually be a strategy.

The Bottom Line

So, should you sell your Santa Monica home now or wait?

The best time to sell is when your personal goals, financial position, property condition and market opportunity align.

Not when a headline tells you to sell.

And not when another headline scares you into waiting.

Today’s Santa Monica and Westside market is not a market where every seller can simply name a price and expect buyers to appear.

But it is also not a market where a well-positioned home cannot sell successfully.

It is a strategy market.

Preparation matters.

Pricing matters.

Presentation matters.

Marketing matters.

Negotiation matters.

And if you are thinking about selling within the next one, three or even five years, understanding your home’s position now can help you make much better decisions later.

The best seller strategy often begins long before the For Sale sign goes up.

Request Your Complimentary Home Value Analysis

Thinking About Selling Your Santa Monica or Westside Home?

You do not have to be ready to list tomorrow to start planning intelligently.

I can help you understand your home’s current market position, likely value, competition, preparation options and what a sale could look like for you—so you can decide whether selling now or waiting makes more sense.

Elizabeth Sorgen
Santa Monica & Westside Real Estate
California Real Estate Broker since 2003
Call/Text: 310-927-0916
Email: info@elizabethsorgen.com
Website: elizabethsorgen.com

Explore the Homeowner IQ Blog for more seller resources and expert advice.

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Real estate markets are local and constantly changing. This article is provided for general educational purposes only and is not intended as financial, tax, legal, or investment advice. Individual circumstances vary. Consult the appropriate qualified professionals regarding your specific situation.