Is Venice, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Venice was a Seller's Market.
Key Takeaway
Venice is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Venice, CA
How much do homes in Venice, CA cost?
Median Sold Price
$1,982,750
$1,078/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Venice have sold for 1.6% more than they did a year ago.
Summary: The median home sold price in Venice was $1,982,750 in March 2024, up 1.6% from last year, and the median price per square foot was $1,078.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $930K | $1.0M | +7.5% |
| 2 Bedrooms | $1.5M | $1.6M | +1.7% |
| 3 Bedrooms | $2.1M | $1.9M | -8.9% |
| 4 Bedrooms | $3.2M | $3.0M | -6.8% |
| 5+ Bedrooms | $2.8M | $3.5M | +21.8% |
Summary: Venice housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 1.7%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes increased by 21.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Venice Canals | $3.4M | $3.6M | +7.4% |
| Venice | $1.9M | $1.9M | +1.6% |
| Silver Triangle | $1.8M | $1.9M | +0.9% |
Housing Supply in Venice, CA
How many homes are available in Venice, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 185 | 211 | +14.1% |
Summary: The Venice real estate market had 211 homes for sale in March 2024, a 14.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 14 | +16.7% |
| 2 Bedrooms | 42 | 46 | +9.5% |
| 3 Bedrooms | 46 | 51 | +10.9% |
| 4 Bedrooms | 47 | 59 | +25.5% |
| 5+ Bedrooms | 38 | 41 | +7.9% |
Summary: The Venice housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 10.9%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes increased by 7.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Venice, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Venice in March 2024, down by 9.1% month-over-month. Of the 20 sold homes, 80% were sold under asking, 5% were sold at asking, and 15% were sold over asking.
Days on Market for Venice, CA
How long does it take to sell a home in Venice, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 58 Days | +49.0% |
Summary: Homes in Venice had an average of 58 days on market in Mar 2024, up by 49% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Venice are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in Venice; 45% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.