WHAT IS IT LIKE LIVING IN VENICE BEACH CA ???

February VENICE REAL ESTATE MARKET UPDATE

THIS MONTH’S TAKEAWAY …

2/12/14 … SINGLE FAMILY HOME INVENTORY REACHES “NORMAL” … As of February 12th, there were 29 single family homes actively listed in Venice. This is 145% above last month and almost three times as many homes for sale in mid-December. The active inventory is now equal to the average number listed for all of 2013.

JANUARY HOME SALES DOWN FROM PREVIOUS MONTH; UP OVER A YEAR AGO … The total sales dollar volume and the number of single family home that sold in January decreased significantly (-43% and -28% respectively) as compared to last month and increased over January a year ago (73% and 64% respectively). The number of homes that sold decreased 7% as compared with January a year ago and increased 78.5% when compared to last month’s number. January’s average sales price and average dollars per square foot weir higher than January 2013 but lower than December 2013.

JANUARY 2013 VENICE PROPERTY SALES …

See below for a list of all of the properties sold in Venice during January 2013 and the charts showing the comparisons.

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VENICE SALES PRICE COMPARISONS FOR JANUARY 2014 …

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AVERAGE AND MEDIAN SALES PRICE FOR THE COMBINATION OF ALL VENICE PROPERTY SALES INCREASED ABOVE A YEAR AGO … BUT FELL BELOW LAST MONTH’S FIGURES. The average price per square foot increased in both comparisons.

View the chart

CURRENT INVENTORY (2/12/2014) AS COMPARED WITH THE PROPERTIES IN ESCROW AND THOSE SOLD IN JANUARY …

THE NUMBER OF HOMES IN ESCROW DECLINED … This is a result of the very low available inventory at the end of 2013 and early 2014. Buyer demand continues strong.

The average list price for the active single family listings is $2,143,586 … a decrease of 7.7% from last month and 38% higher than the average sales price in January. Only 5 (17%) of the active single family homes are listed below January’s average sale price. The average list price for the homes in escrow is $2,337,800 … 78% higher than January’s average sales price and 9% higher than the average list price of the active listings.

There are no available short pay properties on the market in Venice. There is one short pay home, one short pay income property and two short pay condos in escrow. There are no bank-owned properties actively listed or in escrow.

Check out the graphs

WHERE IS THE REST OF MY VENICE REAL ESTATE MARKET REPORT ???

graphFor the rest of my of my graphs, charts and analysis on how the Venice real estate market is performing, please click to my web site … Each month I analyze and compare the market stats to give you the most in-depth in site into Venice property sales and inventory that is available anywhere !!!

Link to this month’s Venice stats

SEARCH FOR VENICE HOMES AND PROPERTIES FOR SALE …

websiteVenice Beach Living’s web site has a great Multiple Listing Service search that is set up to search for all types of properties in Venice.

Check out all of the properties for sale in Venice

“LEON KOSSOFF: LONDON LANDSCAPES” AT L.A. LOUVER …

lalouverThe exhibition runs until March 1. Gallery hours are 10am – 6pm, Tuesday – Saturday. The Gallery is located at 45 North Venice Boulevard, CA 90291. For more information, call (310) 822-4955 or visit www.lalouver.com.

Read about it in the Huffington Post

PACIFIC RESIDENT THEATRE PRESENTS “HENRY V” …

prtheatreAn upstart young king inspires a nation, leading an army of ragtag misfits to fight an invincible enemy five times its size. You’ve seen Shakespeare’s classic story before … but never like this … opening February 22nd …

More info and tickets

HOUZZ TOUR: DAPPLED LIGHT INSPIRES ARTISTIC WRAPPING …

thewalnuthouseCor-Ten cut with circles mimics the effect of a massive pine tree’s canopy, for a striking look inside and out.

You could own this very special home … give me a call … 310.773.6945.

Read the article

HOT NEW PRODUCTS FOR THE HOME UNVEILED IN VEGAS…

toiletThe latest trends in innovation and technology were displayed at a recent industry convention, and highlights included countertops that charge smartphones, night-light toilet seats and under-counter refrigerators.

Read the full story

VENICE CHAMBER MIXER FEBRUARY 26TH AT LA CABANA …

vcofcCelebrate and share an evening of friendly conversation while cultivating your business connections. Enjoy delicious food and drink!

More info …

HOME CATWALKS MAKE FOR PURR-FECTLY HAPPY FELINES …

catwalkWalkways and tunnels custom built to the tune of about $35,000 keep a homeowner’s 18 cats on cloud nine. The intricate and artistic platforms and walkways allow the cats to climb, jump and crawl through the house.

Read more …

Fast Facts

Fast FactsCalifornia median home price – December 2013: $438.040 (Source: CAR)

California highest median home price by region/county December 2013: San Mateo, $1 million (Source: CAR)

California lowest median home price by region/county December 2013: Tehama, $137,500 (Source: CAR)

California Pending Home Sales Index – December 2013: Decreased 25.2 percent from 92 in November to 68.8 in December

California Traditional Housing Affordability Index – Fourth Quarter 2013: 32 percent (Source: CAR)

Conforming mortgage rates – week ending 1/30/2014 (Source: Freddie Mac)

• 30-yr. fixed: 4.23% fees/points: 0.7%
• 15-yr. fixed: 3.33% fees/points: 0.7%
• 1-yr. adjustable: 2.51% fees/points: 0.5%

Our January 2014 Venice Market Report …

THIS MONTH’S TAKEAWAY …

1/21/14 … SINGLE FAMILY HOME INVENTORY JUMPS !!! As of January 21st, there are 20 single family homes actively listed in Venice. This is almost double the number a month ago. The increase is typical after the New Year as not many people choose to list during the holidays. Current inventory level is slightly lower than a year ago; but only about half that in the middle of last summer. Active condo listing inventory has remained fairly steady, increasing only slightly over the past year. Multi-family inventory has increased. The number of properties in escrow has declined since the middle of 2013 … this is predominately the result of lower inventory.

DECEMBER HOME SALES VOLUME UP OVER LAST MONTH AND LAST YEAR … The total sales dollar volume and the number of single family home that sold in December increased significantly as compared to last month and slightly over December a year ago. December’s average sales price rose above last month and a year ago; the average dollars per square foot was up over a year ago but below November 2013.

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DECEMBER HOME SALES RISE … The total sales dollar volume and the number of single family home that sold in December increased significantly (112%) as compared to last month and remained about the same as December a year ago (+4.5%. The number of homes that sold decreased 7% as compared with December a year ago and increased 78.5% when compared to last month’s number. December’s average sales price and average dollars per square foot remained fairly steady when compared to both last month and last year.

Link to this month’s Venice stats

SEARCH FOR VENICE HOMES AND PROPERTIES FOR SALE …

websiteVenice Beach Living’s web site has a great Multiple Listing Service search that is set up to search for all types of properties in Venice.

Check out all of the properties for sale in Venice

9 BIG SPACE-SAVING IDEAS FOR TINY BATHROOMS …

bathReally small bathrooms can be incredibly challenging to design. These nine ideas go beyond simply making your bathroom look bigger and actually free up more space.

Read more

IS YOUR KID ADDICTED TO THE INTERNET ???

kidsoncomputerA look at the growing problem of Internet addiction in kids all over the world.

Read the article

HOW TO MAKE YOUR GARAGE A STORAGE POWERHOUSE …

garagestorageGarages often turn into repositories for everything from sports equipment to holiday decorations. But with planning you can turn your garage into a harmonious space with room to actually — wait for it — park the car.

Learn how

FAST FACTS …

Fast FactsCalifornia median home price – December 2013: $438.040 (Source: CAR)

California highest median home price by region/county December 2013: San Mateo, $1 million (Source: CAR)

California lowest median home price by region/county December 2013: Tehama, $137,500 (Source: CAR)

California Pending Home Sales Index – November 2013: Decreased 13.6 percent from 108.6 in October to 93.8 in November

California Traditional Housing Affordability Index – Third Quarter 2013: 32 percent (Source: CAR)

Conforming mortgage rates – week ending 1/16/2014 (Source: Freddie Mac)

• 30-yr. fixed: 4.41% fees/points: 0.7%
• 15-yr. fixed: 3.45% fees/points: 0.7%
• 1-yr. adjustable: 2.56% fees/points: 0.5%

THE BIG PICTURE … A LOOK AT THE PAST 10 YEARS VENICE SALES …

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PACIFIC RESIDENT THEATRE PRESENTS “PURE IMAGINATION” …

prtheatreCome with us to a land of Pure Imagination and celebrate the extraordinary music of Anthony Newley and Leslie Bricusse. Enjoy a touch of 60s, a taste of nostalgia and the magic of their work – in this all song musical event.

More info and tickets

Our December 2013 Venice Market Report …

THIS MONTH’S TAKEAWAY …

12/27/2013 … NUMBER OF HOMES FOR SALE IN VENICE DROPS TO NEW LOW !!! As of December 27th, there were only 11 single family homes actively listed in Venice. This is the lowest number that I can remember in the 25 years that I have been selling Venice properties. Buyer demand has escalated during the month of December resulting in 29 homes in escrow as of 12/27/2013.

NOVEMBER HOME SALES VOLUME DECLINED … The total sales dollar volume and the number of single family home that sold in November decreased significantly as compared to last month and November a year ago. November’s average sales price and average dollars per square foot remained steady when compared to both last month and last year. The sales decline appears to be a result of the low inventory and not listing prices.

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NOVEMBER HOME SALES VOLUME DECLINED … The total sales dollar volume and the number of single family home that sold in November decreased significantly as compared to last month and November a year ago. The number of homes that sold decreased 46% as compared with November a year ago and 18% when compared to last month’s number. The total sales volume fell 46% over November 2012 and 17% over October 2013. November’s average sales price and average dollars per square foot remained steady when compared to both last month and last year. The sales decline appears to be a result of the low inventory and not listing prices.

Link to this month’s full Venice Market Report

AT VENICE BEACH LIVING …

We pride ourselves The decision of home-ownership is a big one and Venice Beach Living is dedicated to every one of our clients … to serve them with honesty and integrity, to commit our extensive knowledge of the market place to their benefit, to oversee the transaction to their benefit and to provide personalized one-on-one service. We strive to be the best real estate brokerage in Venice … not the biggest.

Our focus is VENICE … only VENICE !!!

For more information on how Venice Beach Living can help you with all your real estate needs, please visit venicebeachliving.com or give us a call at 310.773.6945.

SEARCH FOR VENICE HOMES AND PROPERTIES FOR SALE …

websiteVenice Beach Living’s web site has a great Multiple Listing Service search that is set up to search for all types of properties in Venice.

Check out all of the properties for sale in Venice

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