May 26, 2024 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

Venice Housing Market Update | June 2014

Jeff Marino sent in this month’s report:

Venice Housing Market Update for June 2014

By Redfin agent Matt Jones

The Greater Los Angeles real estate market appears to be stabilizing while Venice remains a seller’s market. Across all of L.A., the:

  • median sale price showed no change from May, holding steady at $475,000;
  • number of homes sold declined a scant 0.9%; and
  • total homes for sale increased 2.0% since May and a significant 13.7% since June of last year.

Most L.A.-area buyers are cheering the return of a balanced market. But Venice is special, as everybody knows.

Here’s how the Venice real estate market looked in June, according to real estate brokerage, Redfin:

  • The median sale price increased 12% since May and is now $1.62M (16% higher than one year ago).
  • 4% more homes were sold in Venice than last May; 33% more than last year.
  • The number of single-family homes for sale tumbled 4% from May, which means Venice inventory remains 10% lower than one year ago.

Some super high-tier homes ($2M plus range) are sitting on the market a little longer. But for the most part, competitively priced homes are selling very quickly.

Some Venice homeowners are concerned they will not be able to afford to find a suitable replacement home (dare they say, “upgrade”?) given the past price increases across all of the Southland. Affluent beach communities like Venice will almost always be the last to cool off. But that means right now could be great timing to sell if you are looking to move inland to one of the markets that has already showed signs of stabilizing.

Related Posts

TripAdvisor Ranked This Santa Monica Hotel #1 in America

May 23, 2024

May 23, 2024

The Ranking Honored the Highest Level of Excellence in Travel, Recognizing Those Who Receive a High Volume of Exceptional Review...

Flavors of Origin Festival Returns to Mar Vista Farmers Market

May 23, 2024

May 23, 2024

Attendees Can Explore New Foods, Beverages, and Recipes Flavors of Origin, presented by Higher Ground For Humanity, will return for...

Los Angeles County Rent Relief Program Opens Second Round of Applications

May 21, 2024

May 21, 2024

Applications Accepted Until June 4, Funding and Support Have Been Increased  The Los Angeles County Rent Relief Program (LARRP) has...

Three-Story Complex Opens in Santa Monica, Offers Tenants “Creative” Office Space

May 15, 2024

May 15, 2024

The Building Is Divided Into Two Wings, Connected by a Glass-Enclosed Walk-Through Bridge Structure C.W. Driver Companies, has officially completed...

Classic Tudor Estate Near Palisades Village Listed for Nearly $7M

May 13, 2024

May 13, 2024

A detached studio sits adjacent to a sparkling pool, while a detached two-car garage is adorned with lush ivy A...

Mini Compound on Brooks Ave Lists for $2.5M

May 12, 2024

May 12, 2024

The primary bedroom, complete with an ensuite, beckons through French doors to a rear garden This tranquil $2.49 million mini...

Five-Unit Multi-Family Property Along Venice Canals Hits Market at $7M

May 5, 2024

May 5, 2024

Joint Effort to Share Revenue Marks Milestone in Malibu School District Autonomy An opportunity for both owner/users and investors, this...

New Via De La Paz Property Hits Market at $8.9M

April 29, 2024

April 29, 2024

Descend to the Basement to Uncover a State-of-the-Art Theater, Expansive Entertainment Area, Private Guest Suite Located at 600 Vía De La...

Report: Video Game Mogul Lists Palisades Home for $9.2M

April 19, 2024

April 19, 2024

Built in 2018, the Wood-Shingled Home Spans 7,000 Square Feet across Multiple Levels Dan Houser, the English video game magnate,...

Los Angeles County District Attorney Announces Charges In Brutal Venice Sexual Assaults

April 16, 2024

April 16, 2024

Charges Filed Against Suspect in Venice Canals Case by LADA George Gascon Los Angeles County District Attorney George Gascón has...

1920s Spanish Revival Home in Palisades Hits Market at $3.8M

April 8, 2024

April 8, 2024

It Is One of the Earliest Homes Constructed on the Bluffs and Located Just Five Houses Away From Ocean Cliff...

Woman Smashes Car Windshields in Venice and West LA, Prompting Concern

April 3, 2024

April 3, 2024

String of Vandalism Incidents Raises Alarm Among Residents In a disturbing incident, a woman was observed vandalizing the windshield of...

This $5M, Five-Bedroom Palisadian Home Hits the Market

April 1, 2024

April 1, 2024

Additional amenities include a private office, study and a three-car garage Tucked behind a gated drive, a nearly $5 million...

Palisadian Home by Renowned Architect Raymond Kappe Hits Market at $12M

March 20, 2024

March 20, 2024

Constructed in 1990 for Musician Ann Keeler, the Post-and-Beam Residence Has Been Meticulously Maintained, Restored, and Enhanced Renowned California architect...

Case Study House Hits Market at $8.9M

March 18, 2024

March 18, 2024

Originally listed in 2018 for $10 million, the property showcases iconic mid-century architecture A Los Angeles residence, known as Case...