Colin Wellman | Todd Stein
Venice, CA
Single-Family Homes
CAMPBELL WELLMAN PROPERTIES | (310) 437-5334
Venice, CA
Mon May 20 2024
This week the median list price for Venice, CA is $2,772,500 with the market action index hovering around 34. This is an increase over last month's market action index of 31. Inventory has increased to 92.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $2,772,500 | |
| Median Price of New Listings | $2,145,000 | |
| Per Square Foot | $1,371 | |
| Average Days on Market | 118 | |
| Median Days on Market | 39 | |
| Price Decreased | 36% | |
| Price Increased | 0% | |
| Relisted | 11% | |
| Inventory | 92 | |
| Median Rent | ||
| Market Action | 34 | |
| Slight Seller's Advantage | ||
The market seems to have paused around this plateau. This week prices eased down a bit.Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $5,149,000 | 3,898 | 4,500 - 6,500 sqft | 4 | 5 | 19 | 0 | 1 | 98 |
| $3,300,888 | 2,709 | 4,500 - 6,500 sqft | 4 | 3 | 59 | 0 | 3 | 42 |
| $2,295,000 | 1,552 | 0 - 4,500 sqft | 3 | 2 | 86 | 7 | 2 | 14 |
| $1,625,000 | 1,029 | 0 - 4,500 sqft | 2 | 1 | 83 | 3 | 2 | 35 |