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Venice Median Sale Price up 62% in last 5 years

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Venice Market Snapshot

The median sales price for single-family homes in Venice reached $2,000,000 in May 2018, up 6.9% from May last year and 62% from five years earlier. The Venice housing market continues to show strength across the board, with average days on market at a mere 40 days in May, versus 60 days last May, a notable decrease of 33.3%.

The record sale in Venice came in at $14,600,000 for 2416 McKinley Avenue, which sold last April. The highest price per square foot paid for a home in Venice was $6,313.78 for 1630 Crescent Place located on a double lot in June 2016.

In the last five years, a total of 617 homes sold with an average price per square foot over $1000, which is over 54% of all homes sold during the period. The lowest price Venice home that sold in the last five years came in at $668,000, ($649.17 per square feet,) which sold in March of 2013.

VENICE | Active VENICE | Sold
Active listings 61 Closed Sales Y-T-D 82
Minimum list price $975,000 Minimum close price $998,000
Maximum list price $11,700,000 Maximum close price $6,000,000
Average list price $2,960,852 Average close price $2,316,594
Average Price Square Foot $1,295.21 Average Price Square Foot $1,090.16
Median list price $2,295,000 Median sale price $2,072,500
Average days on market 56 Average days on market 49
Months of inventory 5 Average sales discount – 0.0152% under list

MRMLS single family residence average sales in Venice, CA 90291. Information is deemed accurate but not guaranteed.

Hero Photo Courtesy of Douglas Elliman Real Estate

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