Marina Del Rey and Venice Market Intelligence Report

Vol. 7 | February 2021

Market Intelligence Report LA’s Westside Edition Delivering the facts and trends of the most relevant market activities as they unfold in LA’s Westside real estate communities

RE/MAX Estate Properties 600+ Local Agents • 12 Offices • Luxury Residential Commercial Investment Division • International DRE #01879720

Marina Del Rey JANUARY STATS Key Facts:

$1,300,000 Median Sold Price

$1,336,000

Average Sold Price

97

JANUARY

2020

JANUARY %

2021

Change

Median Price (in $1,000)

$1,544

$1,300

-16%

Average Price Per Sq. Foot

$800

$811

1%

Properties for Sale

92

97 5%

Properties Pending Sales

24

39 63%

Properties Sold

25

32 28%

Days on Market (Sold Homes)

45

55 22%

Monthly Supply of Inventory

3.7

3 -19%

Absorption Rate (Closed Sales) 27.2 33 21%

Listings for Sale

AVERAGE & MEDIAN PRICE $1,800

39

Listings Pending

$3,500 $1,600

$1,300

$1,336

$1,400 $3,000

32

Listings Sold

$2,593

$1,200 $2,500 $1,000 $2,000

$1,655

$800

55

Days On Market

$1,500 $600 $1,000 $400 $500 $200 $$Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median

Average

Venice JANUARY STATS Key Facts:

$2,789,000 Median Sold Price

$1,574,000

Average Sold Price

125

Listings Pending

2020

JANUARY %

2021

Change

Median Price (in $1,000)

$2,625

$2,789

6%

Average Price Per Sq. Foot

$1,077

$925

-14%

Properties for Sale

92

125 36%

Properties Pending Sales

18

29 61%

Properties Sold

11

16 45%

Days on Market (Sold Homes)

59

81 37%

Monthly Supply of Inventory

8.4

7.8 -7%

Absorption Rate (Closed Sales) 12

12.8 7%

Listings for Sale

29

JANUARY

AVERAGE & MEDIAN PRICE $2,789

$3,000 $3,500

$1,574

$2,500 $3,000

16

$2,593 $2,500 $2,000

Listings Sold $2,000 $1,500

81

Days On Market

$1,655

$1,500 $1,000 $1,000 $500 $500

$-$Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 Median

Average

WE A R E T HE COA ST RE/MAX Estate Properties 600+ Local Agents • 12 Offices Luxury Residential • International Commercial Division BEVERLY HILLS 9454 Wilshire Blvd., Suite 600 Beverly Hills, CA 90212 310.205.0050 EL SEGUNDO 402 Main Street El Segundo, CA 90245 310.322.1425 PALOS VERDES - MALAGA COVE 63 Malaga Cove Plaza Palos Verdes Estates, CA 90274 310.378.9494

REDONDO BEACH 1720 S. Elena Avenue Redondo Beach, CA 90277 310.378.7747

MANHATTAN BEACH 1040 Manhattan Beach Blvd.

Manhattan Beach, CA 90266 310.376.2225

PALOS VERDES - SILVER SPUR 450 Silver Spur Road Rancho Palos Verdes, CA 90275 310.544.9999

MANHATTAN BEACH / DOWNTOWN 1401 Highland Avenue Manhattan Beach, CA 90266 310.937.5700

TORRANCE 23740 Hawthorne Blvd.

Torrance, CA 90505 310.378.9889

MARINA DEL REY / VENICE 124 Washington Blvd.

Marina Del Rey, CA 90292 310.577.5300

WEST LOS ANGELES 10500 W. Pico Blvd.

Los Angeles, CA 90064 310.559.5570

PALOS VERDES - MIRALESTE 5 Miraleste Plaza Rancho Palos Verdes, CA 90275 310.831.0222

WESTCHESTER / SILICON BEACH 7131 W. Manchester Avenue Los Angeles, CA 90045 310.802.6000

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