OCTOBER . 2009
the pulse of what's happening and what's
new around Venice
VENICE REAL ESTATE MARKET UPDATE
VENICE HOME SALES PICK UP IN SEPTEMBER
As I predicted last month, Venice single family sales volume rebounded in September ... surpassing both last month (significantly) and September 2008 in all stats except average dollars per square foot which increased over last month but did not reach the level of a year ago.
The Multiple Listing Service statistics as of October 15th show Venice listing inventory decreased by 13 (13.5%) since last month to 83 active single family homes for sale. This decrease echoed the decrease sited in September resulting in a two-month overall decrease in homes available for sale of 25%. The average days on market for the current listings remained the same as a month ago at 115 days. Of the 83 current listings, 52 (62.7%) are listed below September's average sale price of $1,532,592 and 31 (37.3%) are listed above that average sale price. (The average sale price was somewhat skewed due to a $5,600,000 sale ... the median sale price was $1,125,000). The average list price for the active listings is $1,563,890 ... about the same as September's average sale price.
Currently 35 single family homes are in escrow (average days on market is 102). This is an increase over a month ago when there were 30 homes in escrow. The average days on market for the homes in escrow continues to increase over the last four months from 67 (July 15th), 84 (August 13th), 98 (September 10th) to an average DOM of 102 as of October 15th. The average list price for the homes in escrow increased over last month to $1,208,211.
SEPTEMBER 2009 VENICE SALES ...
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.
HOW DOES THIS COMPARE ???
For a look of all of the Venice property sales by month since 1999, visit my web site at ../sa/index.html.
NEW BEACH LEASE !!!
A TERRIFIC BEACH PAD ... Just steps to the sand this above-the-garage flat is on a charming walk street 1/2 block to Venice beach. Sunny & cheerful this one bedroom, one bath has hardwood floors in the living/dining, bedroom & hall; tile in the kitchen & baths. Amenities include fresh paint, new blinds & nice appliances. The galley kitchen is open to the living area, affording a spacious feel while still being cozy. The large bath features a long vanity with good storage and a tiled shower. There is a great courtyard between the garage and the front cottage for the tenant's patio furniture & barbeque. Enclosed with high fences for privacy and security. There is garage parking for one car and an equipped laundry room. Will consider a dog.
EXCLUSIVELY OFFERED FOR LEASE AT ... $2,000 / MONTH.
Download the Brochure
Download the MLS Info
To arrange a showing or for more information contact CJ & Jay at 310.823.3129.
OUR VENICE BLOG ...
"VENICE DIGS" welcomes comments and posts on happenings in the community and real estate information. You are encouraged to visit http://venicedigs.com (still in it's development stages) and offer your comments, criticisms, editorial input ...
437 LINNIE CANAL SOLD !!!
A POSITIVELY FABULOUS HOME ON THE VENICE CANALS !!! … This 1926 shingled beach house, rebuilt with addition in 1999, offers timeless quality and unpretentious, easy-going charm … perfectly suited to the casual way of life on the Venice Canals. Oak floors, timbered ceilings & French doors throughout. First-floor living spaces flow smoothly … great for entertaining. Private second-floor master bedroom retreat with reading cove, walk-in closet, lavish spa bath + sunny balcony. Spacious 2 bedroom + den, 2 bath home ... 2050 s/f. South facing on island. This is a very special property.
SOLD ... $1,890,000.
Download the Brochure
Download the MLS Info
PACIFIC RESIDENT THEATRE "THE BROWNING VERSION" ...
''The Browning Version'' by Terence Rattigan, Marilyn Fox and Dana Dewes and produced by Sara Newman-Martins
will preview at the Pacific Resident Theatre on October 22nd and 23rd at 8:00 PM.
Rattigan's 1949 masterpiece brilliantly explores the complexity of the human heart. It predates Albee's "Who's Afriad of Virginia Woolf" in its scathing examination of a marriage.
"... one of the most beautiful plays ever written." - The Guardian. The cast is
Michael Balsley, Orson Bean, Caitlin Beitel, Bruce French, Justin Preston, Michael Redfield, Sally Smythe.
Preview tickets are $10.
Beginning October 24th through December 20, The Browning Version will play on a regular schedule. Tickets are $25. Call 310.822.8392 or purchase tickets on line.
Pacific Resident Theater is at 703 Venice Boulevard, 3 blocks west of Lincoln.
VENICE CHAMBER MIXER WEDNESDAY, OCTOBER 28TH ...
The Venice Chamber October mixer will be Wednesday, the 28th from 5:30 to 7:30 PM at the Bondi BBQ ... 46 Windward Avenue, Venice. Admission is $5 for members and $20 for non-members. (There is metered parking on Windward Avenue.) "Bondi BBQ has the Best BBQ in LA! Join us on the patio at this casual restaurant just steps from the beach! Network with Chamber Members and Guests. Bring your business cards. Plus the Raffle! New Chamber T-Shirts and coffee mugs are available for purchase!"
Click for Details. Contact and membership information: 310.392.3809.
California median home price - August 09: $292,960
California highest median home price by CAR region August 09: Santa Barbara So. Coast $828,750 (Source: CAR)
California lowest median home price by CAR region August 09: High Desert $111,770 (Source: CAR)
California First-time Buyer Affordability Index - Second Quarter 2009: 67 percent (Source: CAR)
Conforming mortgage rates - week ending
% Fees/points: 0.7%
% Fees/points: 0.5% (Source: Freddie Mac)
Please keep us in mind when you have family, friends or associates who are
thinking of buying or selling a home ... We'd love to help them achieve their dream !!!
Thanks ... CJ & Jay
CJ COLE, BROKER
Venice Beach Living
Phone: 310.823.3129 . 310.773.6945
Web Site: venicebeachliving.com