Posted on 24 Jan
Buyers seeking the quintessential Southern California lifestyle have turned to the Beach Cities for great weather and a small community feel within one of the world’s largest metropolitan areas.
In 2021, single-family home and condo sales were up 24% and 27% over the previous year, with median sales prices up 12% and 17% respectively. Marina Del Rey down through the South Bay boasted strong performance in both the high-end and entry-level market throughout 2021, with multiple offers for each home becoming standard. The condo market has also become one to watch for Manhattan Beach and Hermosa Beach, catching up to the pace of single-family homes. Rental demand increased as Northern Californians in the tech industry continued working from home.
After some initial stagnation in the beginning of last year, the Venice market finally started to move. As shops and restaurants began opening and generating buzz, the demand for homes around the $3M mark saw a noticeable uptick. In place of open-concept layouts, buyers want more defined and transitional spaces.
The forecast predicts the market remaining strong through 2022, even if mortgage rates rise. An influx of inventory is expected in the spring, which will give buyers more options and cool bidding wars but may also bring the potential to slow prices.
Read more in The Agency’s full market report, The Agency Red Paper 2021, a deep dive into our markets across the U.S., Canada, Mexico, the Caribbean and Europe.
Here are some current Beach Cities listings that we have our eyes on.
On the banks of the historic Venice Canals, this Tuscan-contemporary inspired home boasts elegant interiors, palatial stonework, and marble finishes along with expansive outdoor lounge areas catching the adjacent ocean breeze. The spacious rooftop deck sits above the city with 360-degree views, while the dining and living room open to a glorious, heated patio with an imperial staircase to a lower deck right on the waterfront.
This modern yet classic home offers beautiful views, exquisite design, and a spacious 3,975-square-foot floor plan. Abundant natural light shines through steel-framed doors and windows, wide plank French oak floors glisten, and the dramatic ceilings feature reclaimed beams. A double-tiered rooftop deck provides 360-degree views and a barbeque area.
Designed by the prestigious Tomaro Architecture, this canal front duplex offers one-of-a-kind, villa-style living. Each home includes three bedrooms, four bathrooms, and an expansive floor plan with spectacular canal views and design details. The home facade has elegant Mediterranean-style features with curved windows, a cobblestone driveway, a warm stucco and stone exterior and a slate roof.
This modern, eco-friendly townhome is located in the heart of Venice, just two blocks from Abbot Kinney Blvd. Designed by award-winning architect Howard Rosen, this exquisite three-story property features a lovely courtyard setting and rooftop deck for true indoor, outdoor living. Fine details can be found throughout, including architectural truss ceilings, sleek concrete flooring, and skylights throughout compliment the chef's kitchen that opens up to the living and dining areas and spacious patio.