Venice Beach Living ... CJ & Jay Cole
 
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JANUARY 2013
 
       
   
     
 
JANUARY 2013 VENICE PROPERTY SALES ...
 
       
   

Venice properties sold in January 2013

 
       
   
Sales are for all of Venice and do not necessarily represent sales of CJ & Jay Cole. Information is compiled from DataQuick and the MLS/CLAW. Sources are deemed reliable; however, no representation of any kind is made as to its accuracy.
 
       
 
SINGLE FAMILY SALES COMPARED WITH LAST MONTH AND A YEAR AGO ...
 
       
   
SFR comparison
 
       
   
SALES DROP IN JANUARY ... as compared to last month. This is typical for January as many rush to close before year end. However, all categories are up when compared to January of 2012. The total sales dollars was up by 50% over a year ago; the number of single family homes that sold was 37.5% over a year ago. Both the average sale price and the average price per square foot increased over January 2012.
 
       
 
SALES STATS FOR THE PAST YEAR COMPARED BY MONTH ...
 
       
   
Venice sold by month
 
       
    MONTH-BY-MONTH COMPARISONS ... Most categories showed a typical decline in January.  
       
 
CURRENT INVENTORY (2/18/2013) AS COMPARED WITH THE PROPERTIES IN ESCROW AND SOLD IN JANUARY ...
 
       
   
Active/pending/sold stats
 
       
   
Active, pending, sold charts
 
       
   

INVENTORY INCREASES OVER A MONTH AGO. There are 25 single family homes for sale on the MLS as of February 18th ... 2 more than last month. There are 9 more income properties and 4 more condos than a month ago. The number of homes in escrow increased by 9 to 20. The number of income properties in escrow remained the same at 10. The condo in-escrow number increased by 1 to 13.

The average list price for the active single family listings is $1,671,956 ... an decrease of 26% from last month and 33% higher than the average sales price in January. Of the 25 current single family listings, 10 (40%) are listed below January's average sale price of $1,259,409 and 15 (60%) are listed above that average sale price.

The average list price for the homes in escrow is $1,605,575 ... 27.5% higher than January's average sales price and 4% lower than the average list price of the active listings.

There is one active short pay condo currently on the market in Venice. There are two short pay homes currently in escrow. There are three short pay condos in escrow. Four short pay income properties are in escrow.

 
       
 
PAST YEAR LOOK AT INVENTORY OF PROPERTIES FOR SALE ...
 
       
   
Inventory
 
       
   

VENICE REAL ESTATE INVENTORY CONTINUES AT A LOW LEVEL!!! Even with the increase in inventory over the last month, the total number of properties actively listed for sale is significantly lower than a year ago. The number of properties in escrow increased this month signaling an urgency to purchase before prices rise more.

(See charts above for a graphic look at what has happened over the last year.)

 
       
 
A NOTE ON HOW I COMPILE MY STATS ...
 
       
   

WHY MY STATISTICS ARE MORE ACURATE than either those from the Multiple Listing Service or the Los Angeles County Tax Records (used for the Los Angeles Times reports) ... First of all, I must state, no sources are absolutely perfectly accurate (even mine) !!! However, by merging the data from both of the sources, the resulting data is much more accurate. The accuracy of any statistics is solely dependent upon the accuracy input data.

The MLS inaccuracies are, for the most part, a result of agent input errors ... wrong property type, inaccurate sale date, wrong MLS-defined area, missing square footage, and duplicate MLS entries. The County Records (obtained from DataQuick, a paid service) often do not report the sales price and, therefore, those sales are not included in their stats. Additionally, there are a number of properties that sell without a Realtor® which do not show in the MLS stats.

 
 

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