Coming off the recession era bust, in 2012 and 2013 we had roughly a 20% combined rate of appreciation.  In May I reported that although prices continued to appreciate, the rate of appreciation was slowing.  I further postulated that for 2014 I anticipated an appreciation rate of 5-7%.  If June is indicative of the remainder of the year, [...]

In April homes continued to appreciate.  Whether judged on a median, average or per square foot basis, the rate of appreciation was double digits compared to both last month and last year.  However, there is one significant sign that the pace of appreciation is beginning to slow down --- homes placed under contract last month was done [...]

In March homes went under contract at a faster pace than new listings. The market has supported an increase in list and median sold prices of about 5% from last year. Pending sales, which is an indicator of available inventory 2 months out, reflects only a 2.8 month supply. If the supply of homes for sale remains constrained, in the face [...]

Signs of a Neutral Market

If the month of February is any indication of where home sales are heading, the housing market in Venice (including the Island) may have reached a true place of balance, with prices stabilizing and yielding modest appreciation. [...]

2013 was a great year for Venice real estate.  This was amongst the most productive years ever, based on the total number of homes sold.  In fact, had it not been for the shortage of available homes for sale, 2013 would likely have seen more homes sold than any other year, ever.  On average there were 614 homes for sale at the end of each [...]

List Prices are Neutral while Sold Prices are Appreciating.

Logic would seem to dictate that if homes are selling for more money, then list prices should go up as well.  Well, list prices are going up.  But, whereas sold prices have had double digit appreciation, list prices have had modest single digit appreciation. So, how do we explain [...]

Inventory Levels Stay Neutral – Price Appreciation is Moderating.

In October, the number of homes available for sale, including new listings, closed sales and homes placed under Contract saw modest fluctuation from last month, but over-all no evidence of significant change.  The result is that the number of homes for sale based on closed [...]

http://www.heraldtribune.com/article/20130916/ARTICLE/130919718/0/search By Josh Salman

As has been widely reported, pending sales continue to outpace new listings, resulting in persistently low inventory, currently a 3 month supply. And, since January 2012 sold prices have risen approximately 15%.  The question looms:  Will prices continue to escalate, and if so, at what pace? One year ago I posited on this Blog that prices [...]

July 1, 2012 – June 30, 2013:   10.2% Price Increase

The pace of sold homes (closed) and pended sales (under contract) continue unabated. For most recent months, including June, sold and pended sales outnumbered new listings by a factor of at least two (2) to one (1).  Month in and month out there are simply not enough new listings to [...]