Venice, Ca Home Value Trends
Trends in Venice show a 3.9% hike in median home sales price over last year. The predictions indicate that it will further rise by 0.7% within next one year. Median Homes Sales Price is $1,880,000. The median rent price is $ 1,142 per sq. Ft. The median price of homes in Venice is $2,150,000 for currently listed homes, and the median price of sold homes is $1,668,400. There are 263 homes listed in Venice which include 18 condos & 2 foreclosures. In October 2018, the housing market in Venice, CA can be called a seller’s market, meaning there are more buyers than active homes for sale. Seller’s markets are generally more advantageous for homeowners than buyers.
Rental Trends** In Venice, Ca
The median home rent is $ 6,275. Studio apartments rent for $1,895 one bedroom at an average $ 3,350 a month , 2- bedroom at average rent of $ 5,250 per month, 3-bedroom $7,500 & 4-bedroom $12,000 a month.
Venice, Ca – A Neighbourhood For Wealthy:
The Wall Street Journal called Venice Beach, California, the toughest place in the United States to build new housing, describing it as an example of what is happening in a lot of wealthy urban enclaves. Because of increased opportunities in business/jobs, wealthy people are pouring in resulting overcrowding and increased problems for its inhabitants. People have objected to unwanted growth. Parking is becoming a huge problem. As such, the state administration has to think the ways and means to handle the real estate ticklish situation in Venice, California.
*Based on data updated October, 2018.
** Based on data updated November, 2018.