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🏡 January 2024 Luxury Real Estate Market Update & Trends for Marina Del Rey 🌟

🏡 January 2024 Luxury Real Estate Market Update & Trends for Marina Del Rey 🌟

By Christophe Choo Posted Feb 28, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 January 2024 Luxury Real Estate Market Update & Trends for Marina Del Rey 🌟

🔻 Avg Sales Price: $1.95 million, 📉 down 9%

🔼 Avg List Price $2.81 million, 📈 UP 2%

🔻 Properties Sold: 2, 📉 down 57%

🔼 Days on Market: 47 📆, 📈 UP 70%. Act fast!

🔼 $/Sq FT: $1,162, 📈 UP 17%

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Marina Del Rey, Los Angeles' premier waterfront escape, is truly a haven for those seeking the quintessential marina lifestyle. Nestled close to the airport and boasting its very own beautiful marina, this area offers a unique blend of luxury and leisure, making it a standout among the beach communities of Los Angeles.

In January 2024, Marina Del Rey's real estate market presented a fascinating picture: the average selling price was $1.95 million, experiencing a slight dip of 9% from the preceding quarter. Despite this, the allure of the marina lifestyle has kept the market buoyant, with the average list price nudging upwards by 2% to $2.81 million. This adjustment reflects a market that, while adjusting, remains vibrant and desirable.

The sales volume in January revealed a slowdown, with only two properties changing hands, marking a significant decrease of 57% compared to the previous 90 days. This reduction could be attributed to the specific demands of the Marina Del Rey market, where the unique lifestyle and higher price points may lead to longer decision-making processes for potential buyers.

The days on market for properties stretched to an average of 47 days, up by a considerable 70%. This longer market time could suggest that buyers are taking their time to find the perfect marina-front home, or it could indicate a mismatch between seller expectations and market realities. Nevertheless, the price per square foot surged by 17% to $1,162, underscoring the premium that buyers are willing to pay for this exclusive lifestyle.

Marina Del Rey, with its serene waters, bustling marina, and luxurious amenities, remains a coveted location. For those dreaming of a home where they can step out to a view of sailboats and sunsets, Marina Del Rey is an unmatched choice. Whether you're a boating enthusiast or simply someone who cherishes the tranquility of waterfront living, Marina Del Rey offers a blend of luxury, leisure, and investment potential that is hard to resist.

For potential buyers and sellers in Marina Del Rey, the current market dynamics underscore the importance of working with a real estate professional who understands the nuances of luxury waterfront properties. As the market continues to evolve, staying informed and agile will be key to navigating the Marina Del Rey real estate landscape successfully.

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