Venice, CA Real Estate Home Value Trends

In case you want to own a home or hire a one in Venice, CA, RTI Properties Inc, Property Management Company has real estate market trends for you. The great assistance of our Venice Property Management professionals are indeed for choosing the right rental property whether it is about residential or commercial property in Venice, CA. The analysis is based on the figures of the end of October 2018:

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.