Tiny Homes With Large Price
Tags + One of the Westside’s Best Performing Markets in 2015 (Spoiler Alert: It
In Venice, while the average home
price has decreased by 5.1% to $1,804,000, the average price per square foot in
the same time period has increased by a lot — 31%, to be exact. At first the
data appears to contradict itself, but dig a little deeper and there’s an
answer: A large number of tiny homes hit the market during this past year. And
by tiny we’re referring to under 1,000-square-foot homes, some of which have
sold for more than $1,800 a square foot.
In Santa Monica, the average home
price in the 90405 area decreased by 1.2% to $1,809,140 while the average per
square foot price over the same time period decreased by 7%. Similar to our
other Westside markets, inventory was low in Santa Monica during this time
Mar Vista, however, saw increases.
During the past year, home prices in the area increased by 1.22% to $1,307,241,
while the per square foot price over same period increased by 9.75%.