Stuff we're talking about in the real estate industry
Miscellaneous real estate listings, market data, news and trend information for Silicon Beach & adjacent residential and residential income properties curated by Silicon Beach Realtor Tracy Thrower Conyers.
Are you a DIY Westchester house hunter? Are you headed out to tour the open houses today in Westchester CA 90045?
Download my Self-Guided Open House Tour and take it along with you as you Continue reading “Self-Guided Open House Tour – Westchester CA Real Estate (Osage)”
Are you a DIY Westchester house hunter? Are you headed out to tour the open houses today in Westchester CA 90045?
Download my Self-Guided Open House Tour and take it along with you as you Continue reading “Self-Guided Open House Tour – Westchester CA Real Estate (Westport Heights)”
Are you a DIY Westchester house hunter? Are you headed out to tour the open houses today in Westchester CA 90045?
Download my Self-Guided Open House Tour and take it along with you as you Continue reading “Self-Guided Open House Tour – Westchester CA Real Estate (West of Sepulveda)”
[Santa Monica] received perfect scores in all categories, including: historic preservation ordinance (150 points); dedicated preservation staff (15); ability to designate historic districts (15); citywide survey of historical resources (15); owner consent not required for historic designation (10); Mills Act incentive program (10); landmark designation annually active (5); dedicated historic preservation commission (5); historical resources survey updated within the past five years (5); certified local government status (5); historic preservation element or plan (5); and, “additional incentives” (5). Continue reading “Santa Monica Scores Perfect On Preservation Report Card”
Beautiful Santa Monica, California is a world-famous beachfront community located in the heart of Silicon Beach. It’s strategically located within miles of other Silicon Beach communities, including Marina del Rey, Venice and Playa Vista.
SaMo is filled with beachfront restaurants, upscale shopping, public and private schools and a number of well-known attractions like the Santa Monica pier and beach. Most conveniences are all within walking distance of each other, but definitely within beach cruiser distance. When it comes to Santa Monica real estate there are two areas in particular that offer some of the best values to be had in Santa Monica: the laid back Ocean Park and the friendly, close-knit community of Sunset Park. In Santa Monica you’ll find a blend of affluent neighborhoods and more affordable options too.
In Santa Monica today, there are 224 properties for sale (↑4) from $289,000 to $12,750,000, and 123 properties for rent (↑3) starting from $1,475.
Westchester CA real estate is hot, hot, hot! There are 41 properties for sale today (↑8 since my last report) from $399,000 to $2,295,000, and 3 properties for rent (same) starting from $2600.
In Venice CA today, there are 115 properties for sale (same as my last report) from $425,000 to $11,900,000, and 42 properties for rent (↑5) starting from $1,695.
In Marina del Rey today, there are 144 properties for sale (↑2 from my last report) from $250,000 to $6,250,000, and 61 properties for rent (↑9) starting from $1,950
How about a little market data today for Venice real estate? Below you’ll find some informative charts, courtesy of Altos Research, a recognized provider of real time data for real estate. As they’re fond of saying, “There’s power in data.” I couldn’t have said it better myself. 😉
Below are the median price charts for Venice real estate. These charts represent a 90-day rolling average for the last 12 months. Nice trajectory for the SFR (single family residences), yes? A little bumpier for condos and townhomes on the right, but definitely trending in the direction we like to see.
If you’re a Venice seller, low inventory typically means that all demand (and there is lots of it in Venice currently, thank you very much to #SiliconBeach) is focused on just a few properties. This is good if you want top dollar for your property.
If you’re a buyer, low inventory means bidding is competitive and you better be ready to move fast if you see something you like.
As you can see below, we’re in a classic seller’s market, but fear not. This kind of market can be managed to the advantage of both buyers and sellers, if you have the right agent. Contact me with questions.
“Days on Market” or “DOM” refers to how long a property sits on the market. Why is this an important statistic? DOM can provide insight into pricing for properties or other possible red flags.
If a house sits on the market for an extended period of time, that might be an indication of an over-ambitious price or some defect with the property. On the other hand, a long DOM can also be an opportunity.
For instance, I know of a beautiful loft in Marina del Rey that sat on the market for longer than expected. The price was good and the unit was gorgeous. The problem? I have no clue, except perhaps timing. The unit was put on the market right after the holidays and stayed on through the Super Bowl season. Sigh.
In that case, a longer DOM gave a perception of an issue when in fact, there was none. It simply represented an opportunity. Just ask the buyer of that unit. Here are the stats for Venice:
This chart shows about 70 days on market for single family homes, but if you drill deeper into the data, at least one pricing sub-group is running at 40 days. Condos are sitting on the market longer, but that’s trending back down.
So, in case you needed data to tell you that the market is hot in Venice, there you go! Of course, if you live anywhere near Venice and you’re not under a rock, you knew this. But it’s kind of empowering to dive into the numbers to see just how hot and which way the numbers are trending.
If you’d like a deeper dive into a neighborhood where you’re thinking about buying or selling, contact me for a custom set of charts with more detail than the charts above. You can also see my dynamic charts for Venice real estate here. These charts automatically update each week. I can provide charts for any West LA communities. Median price charts for all West LA communities can be found here.
For any other questions about Venice real estate, don’t hesitate to reach out. You can see what’s for sale today in Venice here (spoiler alert – 116 properties for sale). To see my most recent Self-Guided Open House Tour for Venice, go here (South of Venice Blvd) and here (North of Venice Blvd).
In Playa Vista today, there are 29 properties for sale (↑3) from $339,000 to $1,300,000, and 5 properties for rent (↓2) starting from $2,200.
Playa Vista Real Estate MLS Listings by Price:
REtrending 