Venice Real Estate Market Update: Why Home Values Stayed Strong in Spring 2026
Venice real estate in 2026 is telling two stories at once. This spring, Venice closed about $72 million less in single-family home sales than it did a year ago, and yet the number that actually tracks what your home is worth barely moved. In fact, it went up. If you own in Venice, that gap is the most reassuring thing in the data, and this report breaks down exactly why.
I'm Paul Salazar with the Paul Salazar Group at Compass. Every week we publish Westside market data pulled straight from the MLS, real numbers, not headlines. Here's the Venice single-family market, spring 2026 against spring 2025, with the winter before each stacked in so you're seeing the trend, not just a snapshot.
The Headline Numbers, And Why They're Only Half the Story
Let's start with the numbers that look dramatic, because they're real. 51 single-family homes closed in Venice. A year ago, 70 did. That's 27% fewer deals. Total volume came down from $208 million to $135 million. The median sale price eased from $2.45 million to $2.35 million, and the average moved more, from about $2.97 million down to $2.65 million, off 11%.
Now the half that matters more. The number nobody puts in the headline is price per square foot, the truest read on what a Venice home is actually worth. It went from $1,369 to $1,375. It went up. Barely, but up.
Values didn't fall. Activity did. Those are two completely different stories, and telling them apart is the whole point of this report.
Why Venice Home Values Didn't Fall
Last spring, the highest sale in Venice was 2501 Ocean Front Walk at $8.88 million. This spring, the ceiling was 657 Milwood at $7.1 million, and that one sold roughly $855,000 under its original ask. When the $8 million trophies sit out a season and the $7 million one negotiates, your median and your average come down with them, even when house-by-house value is holding dead steady.
There's a second piece, and it's specific to this exact window. The Palisades fire hit in January of last year. The families who lost their homes started touring in February and closed on replacements in March, April, May, and June, right here, a year ago. That wave of displaced buyers pushed spring 2025 volume to a level that was never going to repeat. A big chunk of this "drop" isn't Venice softening, it's last year being abnormally high. And the tailwind hasn't fully ended: some of those families leased in Venice instead of rebuilding, and they're out buying right now.
A few more data points to round out the picture. Median days on market went from 15 to 21, six extra days, a recalibration, not a crisis. Sellers this spring still captured 98 cents on every dollar of original ask, up from 96 a year ago, more accurate pricing, fewer panic cuts. And inventory is building: 106 single-family homes are active in Venice right now, up from 86 in March. More to choose from if you're buying. More to compete with if you're selling.
Venice Housing Market by Price Range
Venice isn't one market at the moment, it's four, and they're behaving completely differently.
Under $2 million. The hottest tier in the neighborhood, full stop. The entry point actually came down, the lowest sale this spring was 505 Venice Way at $1.175 million, versus $1.3 million a year ago. Don't read that as weakness; read it as a door opening. 863 Commonwealth closed at 121% of asking in 7 days. Under $2 million in Venice, if it's priced to invite offers, it's a bidding war.
$2 million to $4 million. The engine of the market, the most deals, the most competition, the most over-asking. 810 Nowita Place closed at 127% of list in 19 days. 1126 Grant went for 118%. 2141 Glyndon, 111%. Three homes, three multiple-offer situations, in the price band most of Venice actually lives in. That's the most multiple-offer energy I've seen in this tier in years. It's not 2021, but it's real.
$4 million to $7 million. This is where it gets selective. Priced correctly, it still moves, 354 5th Street closed at 98% of ask in 21 days, clean. Priced on hope, it sits, another home in this same band took 142 days to finally close. Same price tier, completely different outcomes. The only real difference was the list price on day one.
$7 million and up. The quiet one. Last spring, Venice traded an $8.88 million, an $8.25 million, and a $6.75 million in this window. This spring, one sale at the top, 657 Milwood at $7.1 million, and it gave back nearly $900,000 to get there. The trophy tier didn't crash. It paused. Buyers up here have patience, and right now they're using it.
Winter vs Spring 2026 Venice Market Trends
Before anyone calls this a one-off slow spring, rewind to winter, December through March. Same story, just louder. Closings fell from 67 to 56. The median dropped from $2.69 million to about $2.31 million. Volume slid more than $50 million. But median price per foot ticked up, from $1,270 to $1,293.
Two different windows, six months apart, saying the exact same thing: the top tier paused, the headline numbers compressed, and the per-foot value held. When a pattern shows up twice, that's not noise. That's the market's personality.
The 30-Day Cliff
Here's the part most people miss. I've been doing this on the Westside for 20+ years, and I've rarely seen the gap between a good price and a hopeful price matter this much.
There's a cliff buried in this data, and it sits right at 30 days. Homes that sold inside their first month this spring closed at 101% of asking, over list. The ones that crossed into month two dropped to 95%. Past 60 days, 94%.
Think about what that actually means. On a $2.4 million home, sitting one extra month quietly costs you around $144,000. Nobody sends you a memo. The market just reprices you in silence. Momentum in Venice has a shelf life, and it's about 30 days. That's the whole game right now.
What This Means for You
If you're selling: Price to your real per-foot value, not your neighbor's fantasy. The data says about $1,375 a foot is where Venice trades today. Stage it like you mean it, launch it clean, and you can absolutely land over asking, sellers did it at 110%, 118%, and 127% this spring. The equity is there. The discipline has to be there too.
And here's the number every Venice seller should tape to the fridge: the median asking price across the 106 active homes right now is just under $3 million. The median home actually closed at $2.35 million. That's a $645,000 gap between what sellers hope for and what buyers pay. Close that gap on day one, you win. Ignore it, you become someone else's price-drop story.
If you're buying: You've got more selection than you've had in a year, and real room to negotiate at the top, where sellers are sitting. But the well-priced home off the canals? Still a bidding war. Move decisively on the right one, patiently on the aspirational one. The patient buyer at $5 million and up has leverage right now that flat-out didn't exist a year ago. Use it.
If you're just watching: Watch price per foot, not the headlines. That's the number that tells you the truth. Right now it's telling you Venice is steady. The volume cooled. The values didn't.
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Frequently Asked Questions
Q: Is now a good time to sell a home in Venice? A: Yes, if you price to Venice's real per-foot value of roughly $1,375 per square foot. Homes priced correctly this spring closed at or over asking, some at 110–127% of list. Homes priced on hope sat past 30 days and gave back 5–7% of value.
Q: Are Venice home values falling in 2026? A: No. Median price per square foot rose from $1,369 to $1,375 year over year, and rose again in the winter window ($1,270 to $1,293). Sales volume fell 27%, but that was driven by the $7M+ tier pausing and an unusually strong post-fire buying wave inflating last spring's numbers.
Q: How long does it take to sell a home in Venice right now? A: The median is 21 days on market, up from 15 a year ago. The critical threshold is 30 days: homes selling within their first month closed at 101% of asking, while homes past 60 days closed at 94%.
