VENICE IS 3rd ON FORBES 10 BEST "SUBURBS" TO SELL A HOME

VENICE IS 3^rd ON FORBES 10 BEST “SUBURBS” TO SELL A HOME

Prices in Berkley are up 9% this year, making Santa Monica’s kin city top on Forbes’ Ten Best Suburbs To Sell A Home. Our fair Venice is third on that list, with the Dallas suburb of Bedford, Texas in 2^nd position. Kennesaw, Georgia and Montclair, NJ, round out the top 5.

Berkeley was selected as Forbes’ 2008 best suburb to sell a home because Properties are sitting on the market for 73 days on average, the lowest of any area with positive price trends within the confines of the country's 75 largest Census-defined metro areas. Only 37% of sellers have been forced to reduce their prices, one of the lowest rates in the country. Prices are up 9% this year with homes selling for a median price of $790,986.

Forbes notes that the only housing-market problem Berkeley seems to have involved four protesters who illegally occupied a tree from the beginning of the year through September. Authorities finally cut off the tree huggers food and water supply, forcing them from their oak home.

Venice is considered a suburb because it’s located 16 miles west of Los Angeles.

The impressive details as noted by Forbes:

Median home price: $1.5 million

Median days on market: 95

Current inventory: 94

Year-over-year price change: 14%

Percent of sellers decreasing prices: 43%

Altos Research analyzed information about the suburbs in the country's 75 largest Census-defined metro areas based on the last 90 days of sales activity. Since a metro area can contain hundreds of suburbs, the analysis was narrowed it to those cities with an inventory of at least 75 homes on the market.

Info courtesy of

http://www.forbes.com/2008/11/06/homes-sellers-suburbs-forbeslife-cx_mw_1106realestate.html?partner=alerts

http://www.santamonicapropertyblog.com/?p=569

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