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New to Market: Proof Venice Is Finally Dropping?

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A Venice resident points out that this listing for a Brooks Avenue home--and one that's West of Lincoln aka more desirable--may be proof that Venice listings are dropping in price, the belief that being this home would have possibly been $50,000-$75,000 more some months earlier. The two-bedroom, one-bath home is a total of 984 square feet and listed at $724,900. The listing can't decide if it's a tear down or not, but here it is: "Fantastic Potential! Adorable bungalow on a wonderful Venice street with some newer, updated more expensive homes. One can walk to the beach & to the trendy shops & cafes on Abbot Kinney. Open floor plan, wonderful plasterwork, high ceilings." The listing notes that you can "Live here while you make this into your dream home or beach getaway. Possibility to expand or build a modern home, mini-subdivision or duplex."
· 539 BROOKS Ave [Redfin]