December 6, 2021 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

Venice Home Sales Spike in Part due to ‘Silicon Beach’ Transplants

Annual report shows single-family home sales spiking in Venice-area

By Sam Catanzaro

A recent report says that single-family home sales in the Venice-area have spiked the past year in part due to East Coast and Northern California buyers “moving live within the close reach of Silicon Beach.”

A recent report titled The Red Paper 2020 Press from real estate firm The Agency finds that the ‘Beach Cities’ – defined as Venice, Playa del Rey, Marina del Rey, Redondo Beach, Manhattan Beach and Hermosa Beach – saw a 9 percent increase in single-family home sales and median prices over 2019 levels.

“With driving to the office not top of the mind in 2020, the Beach Cities saw more buyers seeking sand, surf, quality schools and a walkable lifestyle that offered outdoor recreation amongst stay-at-home orders,” reads the report.

It was not just the sun, sand and surf that attracted buyers, however, the report states.

“Early in the pandemic, Venice, Playa del Rey and the Marina saw on the influence of buyers from the East Coast, Northern California and Greater LA moving to live within the close reach of Silicon Beach’s tech centers,” reads the report, which is published annually.

Looking ahead, the authors predict the Beach Cities should expect a busy 2021 as well, with demand growing and inventory dwindling.

“While new inventory will be arriving to the market in the way of new construction and remodeled older homes, expect price points to trend slightly upwards as the market remains highly competitive,” reads the report, contending that the market will be the most competitive in the Venice-area for entry-level homes.

While the Beach Cities’ increase was sharp, it was beaten out by Santa Monica, Brentwood and Pacific Palisades. According to the report, the sale of single-family homes throughout Brentwood and the Palisades rose 14 percent with median prices up 5 percent, while in Santa Monica single-family home sales rose 13 percent over 2019 levels.

Related Posts

Holiday Festivities at Loews Santa Monica Beach Hotel

December 4, 2021

December 4, 2021

Loews Santa Monica Beach Hotel brings the magic of the season to life with festivities for the entire family, from...

Six-Story Palms Development Given Green Light

December 3, 2021

December 3, 2021

Geneva@Hughes North would bring 43 apartments to Palms  By Dolores Quintana A new apartment development called Geneva@Hughes North has been...

Del Rey Car to Car Shooting Ends in a Hit & Run Crash

December 3, 2021

December 3, 2021

Police are searching for suspects wanted in connection to a recent car to car shooting in Del Rey.  At 1:14...

Developer Donates $1 Million to Support Housing Development at the West Los Angeles VA Campus

December 3, 2021

December 3, 2021

Pledge includes a $500,000 monetary donation and $500,000 in pro bono work By Staff Writer Hudson Pacific Properties, Inc. has...

State’s Housing Solution Starts Happening

December 3, 2021

December 3, 2021

By Tom Elias, Columnist It’s happening. Despite the best efforts of California’s highly ideological, developer-financed state legislators, the solution to...

10th Annual Venice Holiday Sign Lighting is This Weekend!

December 2, 2021

December 2, 2021

Venice Chamber of Commerce’s annual tradition returns Saturday evening By Sam Catanzaro The Venice Holiday Sign Lighting returns this weekend...

Enforcement of COVID Vaccine Mandate Begins for Los Angeles Business Owners

December 2, 2021

December 2, 2021

Fines of up to $5,000 now in effect By Dolores Quintana Enforcement of the SafePass Ordinance in Los Angeles began...

Two Public Gigs for Venice Group the Off Jingle Bell Rockers

November 30, 2021

November 30, 2021

December 4 and 12 Santa Monica concerts By Staff Writer Local group…the Off Jingle Bell Rockers will be performing once...

Homicide of 50-Year-Old Homeless Man Under Investigation

November 30, 2021

November 30, 2021

Detectives seek public’s help identifying suspect for recent Mar Vista homicide By Sam Catanzaro  Homicide detectives are seeking the public’s...

New Wine Bar Opens On Abbot Kinney Blvd: YO! Venice Show – November 30, 2021

November 29, 2021

November 29, 2021

Local news and culture in under 5 minutes.*  New Wine Bar Opens On Abbot Kinney Blvd* Rivean Has Opens First...

Venice Beach Anti-Vax Poster Painted Over

November 23, 2021

November 23, 2021

Ocean Front Walk poster reading “Leave the Vax, take the Cannoli” removed By Sam Catanzaro An anti-vaccination poster on Venice...

LA City Council To Consider Strict Encampment Ballot Measure: YO! Venice Show – November 22, 2021

November 22, 2021

November 22, 2021

Local news and culture in under 5 minutes.* LA City Council To Consider Strict Encampment Ballot Measure * Marina Del Rey...

OC Restaurant Puts up Provocative Anti-Vax Mural on Venice Beach

November 22, 2021

November 22, 2021

Ocean Front Walk mural to remain in place for 60 days By Dolores Quintana “Leave the Vax, take the Cannoli,”...

Bonin, Kuehl Share Details on West LA Civic Center Redevelopment

November 19, 2021

November 19, 2021

West LA Commons to include over 900 units of housing alongside retail and municipal office building By Dolores Quintana A...