Venice Style E-Newsletter October 2009

VENICE REAL ESTATE MARKET UPDATE

VENICE INVENTORY OF HOMES FOR SALE DECLINES

For the third month in a row the number of actively listed single family homes on the Multiple Listing Service in Venice decreased significantly. As of November 17th there are 70 home listed for sale ... down 37% since August 13th when there were 111 active SFR listings. This is the result of increased sales volume coupled with properties that weren't selling going off the market. With the smaller inventory, I am seeing a significant increase in buyer interest which, hopefully, will result in stabilizing prices.

The average days on market for the current listings went down one from September's 115 days to 114 days. The average list price for the active listings is $1,617,502. Of the 70 current listings, 25 (35.7%) are listed below October's average sale price of $1,094,000 and 45 (64.3%) are listed above that average sale price.

Currently 33 single family homes are in escrow (average days on market is 100). This is a slight decrease from a month ago when there were 35 homes in escrow. The average days on market dropped a smidgen but still well over the low in July (67 days). The average list price for the homes in escrow is $1,184,446; 8.3% higher than October's average sales price and 26.8% lower than the average list price of the active listings.

The October stats (see below) for Venice single family sales volume showed decreases in all categories. However, the total number of property sales for the month increased by one property from 20 in September to 21 in October.

OCTOBER 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 http://venicebeachliving.com/sa/index.html.

SPECTACULAR VENICE CANALS COMPOUND ON THREE LOTS!

There is absolutely nothing else like this on the Venice Canals !!!

420 + 416 + 414 CARROLL CANAL . VENICE

THE MAIN RESIDENCE ... 420 Carroll Canal ... 3 bedrooms, 3.5 baths, formal dining, island kitchen, den and roof terrace

THE GUEST HOUSE AND STUDY ... 416 Carroll Canal ... study, great room with galley kitchen, 1.5 baths, 2nd story guest suite

THE GARDEN HOUSE ... 414 Carroll Canal ... one-room cottage with galley kitchen, 3/4 bath and dining pavilion

This beautiful Mediterranean compound sits on three prime Venice Canals lots enjoying 90 feet of canal frontage and incredible water vistas. The voluminous main house and two detached fully functioning guest houses, each on a separate lot, flow one to another through French doors and shared outdoor spaces. With chic, sophisticated style, the interiors boast large handsome rooms … most with French doors to balconies and terraces … high ceilings, Spanish tile and hardwood flooring, crown moldings, recessed lighting and six fireplaces. Expansive patios and gardens with water features, towering palms and park-like grounds surround the homes … perfect for large-scale entertaining and intimate living. There is garage, carport & open parking for eight cars. Walk to Venice Beach & Abbot Kinney award-wining restaurants & shops. There is absolutely nothing else like this on the Canals!

EXCLUSIVELY OFFERED FOR SALE AT ... $6,500,000.

VIEW THE PROPERTY WEB SITE

Download the Brochure
Download the MLS Info

To arrange a showing or for more information contact CJ & Jay at 310.823.3129.

VENICE LEASE 1/2 BLOCK TO BEACH !!!

40 1/2 23RD AVENUE . VENICE

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.