Venice Beach Living ... CJ & Jay Cole
 
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JANUARY 2014
       
 

THIS MONTH'S TAKAWAY ...

2/12/14 ... SINGLE FAMILY HOME INVENTORY REACHES "NORMAL" ... As of February 12th, there were 29 single family homes actively listed in Venice. This is 145% above last month and almost three times as many homes for sale in mid-December. The active inventory is now equal to the average number listed for all of 2013.

JANUARY HOME SALES DOWN FROM PREVIOUS MONTH; UP OVER A YEAR AGO ... The total sales dollar volume and the number of single family home that sold in January decreased significantly (-43% and -28% respectively) as compared to last month and increased over January a year ago (73% and 64% respectively). The number of homes that sold decreased 7% as compared with January a year ago and increased 78.5% when compared to last month's number. January's average sales price and average dollars per square foot weir higher than January 2013 but lower than December 2013.


 
   
     
 
JANUARY 2014 VENICE PROPERTY SALES ...
 
       
   
All Venice properties sold in January 2014
 
       
   
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 ...
 
       
   
Comparison of January 2014 Venice home sales
 
       
   
JANUARY HOME SALES DOWN FROM PREVIOUS MONTH; UP OVER A YEAR AGO ... The total sales dollar volume and the number of single family home that sold in January decreased significantly (-43% and -28% respectively) as compared to last month and increased over January a year ago (73% and 64% respectively).. The number of homes that sold decreased 7% as compared with January a year ago and increased 78.5% when compared to last month's number. January's average sales price and average dollars per square foot weir higher than January 2013 but lower than December 2013.
 
       
 
VENICE SALES PRICE COMPARISONS FOR JANUARY 2014 ...
 
       
   

AVERAGE AND MEDIAN SALES PRICE FOR THE COMBINATION OF ALL VENICE PROPERTY SALES INCREASED ABOVE A YEAR AGO ... BUT FELL BELOW LAST MONTH'S FIGURES. The average price per square foot increased in both comparisons.

Below is a chart that compares all Venice sold properties in total and also each categories individually.

 
       
   
Venice Property Sales Grid
 
       
 
SALES STATS FOR THE PAST YEAR COMPARED BY MONTH ...
 
       
   
Venice sales stats by month for past year
 
       
   
MONTH-BY-MONTH COMPARISONS ... Show recent up-swings for multi family properties while residential single family properties declined. Average price per square foot remained fairly steady with a slight upward trend over the year. There were no condo sales reported in January 2014.
 
       
 
CURRENT INVENTORY (2/12/2014) AS COMPARED WITH THE PROPERTIES IN ESCROW AND THOSE SOLD IN JANUARY ...
 
       
   
2/12/14 inventory compared with properties sold in January 2014
 
       
   
Property inventory stats for 2/12/14
 
       
   

THE NUMBER OF HOMES IN ESCROW DECLINED ... This is a result of the very low available inventory at the end of 2013 and early 2014. Buyer demand continues strong.

The average list price for the active single family listings is $2,143,586 ... a decrease of 7.7% from last month and 38% higher than the average sales price in January. Only 5 (17%) of the active single family homes are listed below January's average sale price.

The average list price for the homes in escrow is $2,337,800 ... 78% higher than January's average sales price and 9% higher than the average list price of the active listings.

There are no available short pay properties on the market in Venice. There is one short pay home, one short pay income property and two short pay condos in escrow. There are no bank-owned properties actively listed or in escrow.

 
       
 
PAST YEAR LOOK AT INVENTORY OF PROPERTIES FOR SALE ...
 
       
   
Venice real estate inventory graphs for past year
 
       
   

SINGLE FAMILY HOME INVENTORY REACHES "NORMAL" ... As of February 12th, there were 29 single family homes actively listed in Venice. This is 145% above last month and almost three times as many homes for sale in mid-December. The active inventory is now equal to the average number listed for all of 2013. Multi-family inventory has increased and is currently 32% higher than the 2013 average. The condo listing supply is 26% below last year's average. See the charts above for a graphic look at what has happened with inventory and days-on-market over the last year.

 
       
 
THE BIG PICTURE ... A LOOK AT THE PAST 10 YEARS VENICE SALES ...
 
       
   
Venice Home Sales Trend Past 10 Years
 
     
 
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 are discovered in DataQuick®; but do not show in the MLS stats.

 
     
 

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