Venice vs Santa Monica

So cal Stacey Valnes Real Estate Presents SILICΟNΒΕACH/EDITIOΝ VENICE VS SANTA MONICA The housing market in Southern California continues to stabilize after the ubiquitous "Great Recession" that was mainly caused by massive price corrections in the housing market from when the “bubble burst" in 2008. You'll find 2 of America's most loved and well-known beach towns back-to-back along Southern California's warm and sunny Silicon Beach coastline, just east of Los Angeles.Now they're going head-to-head to see who currently has the BETTER REAL ESTATE MARKET. Which town can boast the better housing market? Let's watch Venice and Santa Monica face off to see who wins bragging-rights. Median Sales Price of Homes since 2000 Median Sales Price Median Sales Price venice, CA | All properties |All years Santa Monica, CA | All properties |All years 51.50M $1.20M ŞOK ŞOK 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 All properties I All properties Number of Homes Sold since 2000 Number of sales Number of sales venice, CA | All properties |All years Santa Monica, CA | All properties |All years | 500 un 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 I All properties I All properties Venice Santa Monica bit about the town a bit about the town Verioe Boantk Santa Monica was named for the Christian saint named Monica, who was the Founded in 1905 by millionaire Abbot Kinney and originally called mother of St. Augustine. Prior to non-indigenous settlers moving "Venice of America," the town of Venice was designed to be a seaside in, the land was inhabited by an indigenous people called the Tongva since before resort where vacationers could come to enjoy the beautiful beaches and gorgeous recorded history. Their name for the land was "Kecheek." The area's first non-indigenous visitors were explorers led by Gaspar de Portolà in weather. Venice annexed to Los Angeles in 1926 and is now technically a 1769. They camped near what has since become the intersection of Ohio Ave. borough of L.A. but still maintains its community identity. and Barrington Ave. Venice is famous for its 2 ½ pedestrian-only promenade The name Santa Monica started being used for the area in the 1820's, with boardwalk, featuring a variety of street-performers and artists. People from all the first official mention being printed in 1827. over the world can be seen vacationing there on any given day. | The 2010 census count for Santa The 2010 census count for Venice was Monica was 89,736 28,341 The canals of Venice, built in the spirit of the original Venice in Italy. Downtown Santa Monica, as seen from its famous pier. $872 $786 Average price per square foot Average price per square foot increase from a 11.2% year ago. increase from a | year ago. Market view for venice Market view for Santa Monica 5.6% Avg. Listing Price 1 +$58,156 +3.2% Avg. Listing Price 1 +$106,038 +3.9% $1,861,073 $2,847,048 w-o-W w-o-w Wk ending jan 01 Wk ending jan 01 Median Sales Price 1 +$65,000 Median Sales Price + +$60,009 +5.9% +6.2% $1,170,000 $905,000 y-o-y y-o-y oct '13-jan '14 oct '13-jan '14 Market Trends for Venice Market Trends for Santa Monica Average Listing Price Venice, CA | All properties Average Listing Price santa Monica, CA | All properties $1.90M $3.00M $1.70M $2.20M Dec 11 '13 Dec 18 '13 Dec 25 '13 jan 01 '14 Dec 1113 Dec 18 '13 Dec 25 '13 jan 01 '14 All properties All properties The average listing price for homes for sale in Venice CA was $1,861,073 for the week ending Jan 01, which represents an increase of 3.2%, or $58,156, compared to the prior week. The average listing price for homes for sale in Santa Monica CA was $2,847,048 for the week ending Jan 01 2014, which represents an increase of 3.9%, or $106,038, compared to the prior week. Property Crime Property Crime % population affected % population affected 3.3%- 4% 3.74% 3.17% 3.17% 2.76% 2.76% 2.7% 2.7%- Los Angeles Country California Santa Monica Los Angeles Country California Violent crime Violent crime % population affected % population affected 0.67% 0.65% 0.65% 0.53% 0.53% 0.7% - 0.7%7 0.5% 0.5% Los Angeles Country California Santa Monica Los Angeles Country Califomia So who's real estate market do you think comes out ahead? Who Will Win Their Bragging Rights!? 22% -37% SELLING PRICE SELLING PRICE The median price of sold properties in The median sold price for a home in Santa Monica Venice is up 22% to $1,600,000 is down -37%, a change of $1,510,000 ASKING PRICE ASKING PRICE The median asking price for Venice properties has fallen to $1,678,000, a decrease of -8% from a year ago. Median asking prices for homes in Santa Monica have risen 16% to $ 2,440,000 since the start of 2013. Venice and Santa Monica are both reliably great places to live. Either one of these beach towns is a great place to live, work, learn, and play. Youre sure to enjoy either town, whether your excitement & adventure is or idea of fun rest & relaxation Great weather, gorgeous beaches, and excellent restaurants are all appealing reasons to buy a home in either Venice OR Santa Monica, but one of them comes out ahead strictly in terms of their current housing market stability. so who wins the housing market bragging rights this time? CRASH, DRUMROLL PLEASE... WINNER VENICE “There are 8.5 billion people on the planet; 8 million of them would like to live at Venice Beach..." - a resident of Venice -This housing market showdown has been brought to you by~ Stacey Megan Valnes |Stacey Megan Valnes can help you find the right home for you. Sources: http://www.santamonicapropertyblog.com/?p=5380 http://en.wikipedia.org/wiki/Santa_Monica http://en.wikipedia.org/wiki/History_of_Santa_Monica,_California http://www.trulia.com/real_estate/Santa Monica-California/market-trends/ http://www.trulia.com/real_estate/Santa_Monica-California/ http://en.wikipedia.org/wiki/Venice,_Los_Angeles http://www.trulia.com/real_estate/Venice-California/market-trends/ http://www.trulia.com/real_estate/Venice-California/ www.trulia.com/blog/stacey_megan_valnes/ http://en.wikipedia.org/wiki/Silicon_Beach