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🏡 December 2023 Luxury Real Estate Market Update & Trends for Culver City 🌟

🏡 December 2023 Luxury Real Estate Market Update & Trends for Culver City 🌟

By Christophe Choo Posted Jan 30, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 December 2023 Luxury Real Estate Market Update & Trends for Culver City 🌟

🔻 Avg Sales Price: $1.75 million, 📉 down 10%.

🔻 Avg List Price $1.82 million, 📉 down 2%.

🔻 Properties Sold: 10, 📉 down 30%.

🔼 Days on Market: 34 📆, 📈 UP 42%

🔼 $/Sq FT: $1,128, 📈 UP 8%

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Welcome to the vibrant world of Culver City real estate, where the market trends are as exciting as the city's transformation over the past two decades. From a relatively undiscovered area to a bustling hotspot, Culver City has evolved significantly, and its real estate market reflects this dynamic journey. Let's dive into the latest market update for December and uncover the trends and numbers that are shaping Culver City's property landscape.

Culver City: The Rising Star of Los Angeles

Remember the Culver City of yore? Twenty years back, it was an undiscovered area, quietly nestled within the greater Los Angeles region. Fast forward to today, and it's a different story. Culver City has emerged as a super popular and trendy destination, attracting a diverse crowd from all corners. But what's really going on in this bustling market?

The Numbers Tell a Story

  • Average Sales Price: In December, the average sales price in Culver City was $1.75 million. This reflects a 10% decrease from the previous 90 days, indicating a slight cooling in the market.
  • Average List Price: The average list price stood at $1.82 million, down about 2%. This smaller decrease suggests that sellers are still optimistic about the market's potential.
  • Properties Sold: The month saw 10 properties changing hands, a 30% decrease. This could be a seasonal adjustment or a sign of a more cautious buyer's market.
  • Days on Market: Properties spent an average of 34 days on the market, up 42%. However, 34 days is still a relatively short time, showing that Culver City properties are in demand.
  • Price per Square Foot: At $1128 per square foot, up about 8%, the market shows a healthy appetite for premium properties.

Culver City's Unique Appeal

Over the last 5 to 10 years, Culver City has seen significant growth and new construction, which sets it apart from more established areas with less new development. This fresh and modern appeal is reflected in its higher price points, attracting those looking for contemporary living spaces in a vibrant community.

Culver City: A Desirable Destination

Culver City is more than just another area in Los Angeles. It's a city with its own unique charm and appeal, drawing in a crowd looking for a mix of urban excitement and suburban comfort. The real estate market here is a testament to its growing popularity, offering a range of options for various buyers and investors.

What's Next for Culver City?

As we look forward to the new year, Culver City's real estate market remains a fascinating area to watch. Whether you're a potential homeowner, investor, or just a real estate enthusiast, keeping an eye on this evolving market is sure to provide insights and opportunities.

Culver City continues to be a prime example of how dynamic and diverse the Los Angeles real estate scene can be. With its mix of new constructions, attractive price points, and a strong community vibe, Culver City is not just a market trend; it's a lifestyle choice.

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