🏡 June 2024 Los Angeles Luxury Real Estate Market Update & Trends for West Hollywood Vicinity 🌟
🏡 June 2024 Los Angeles Luxury Real Estate Market Update & Trends for West Hollywood Vicinity 🌟
🔻 Avg Sales Price: $2.12 million,📉 down 14%
🔼 Avg List Price $3.25 million,📈 UP 4%
🔻 Properties Sold: 6,📉 down 18%
🔼 Days on Market: 38 📆,📈 UP 3%
🔻 $/Sq FT: $1,056,📉 down 18%
Unlock the hidden wealth in your West Hollywood property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in WEHO? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!
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Welcome to our June 2024 real estate market update for the vibrant and culturally rich area of West Hollywood! Known for its dynamic nightlife, diverse community, bustling art scene, and a plethora of luxurious condos, historic homes, restaurants, and shopping destinations, West Hollywood is truly a fun place to live if you enjoy a lively lifestyle.
Market Snapshot
Average Sales Price: The average sales price in West Hollywood is approximately $2.12 million, reflecting a decrease of about 14% compared to the previous 90-day cycle. This dip presents a great opportunity for buyers looking to enter this energetic market.
Average List Price: On the flip side, the average list price has seen a modest increase of about 4%, now standing at $3.25 million. This rise indicates that sellers are optimistic about the value of their properties in this desirable location.
Properties Sold: In June, six properties were sold in the West Hollywood vicinity, marking an 18% decline from the previous period. This slight reduction in sales could be attributed to various factors, including market conditions and seasonal trends.
Days on Market: The average days on market for properties in West Hollywood is 38 days, which is up by about 3%. This slight increase suggests that homes are still moving relatively quickly, but buyers may have a bit more time to make decisions.
Price per Square Foot: The price per square foot is currently just over $1,056, which is down 18% from the previous 90 days. This decrease offers potential buyers a more affordable entry point into the luxurious West Hollywood market.
Why West Hollywood?
West Hollywood, also known as WEHO, is its own city within the bustling Los Angeles County. It's a hotspot for those who thrive in a vibrant, city-like environment. Whether you're an art enthusiast, a food lover, or someone who enjoys a diverse and lively community, West Hollywood has something to offer.
Living in West Hollywood
Living in West Hollywood means being in the heart of it all. You'll have easy access to world-class dining, upscale shopping, and some of the best nightlife in the region. The area is also home to many historic homes and luxurious condos, providing a unique blend of old-world charm and modern luxury.
If you’re considering buying in West Hollywood, now might be a perfect time, especially with the current dip in average sales prices and price per square foot. Whether you're looking for a chic condo or a historic home, West Hollywood offers a variety of options to suit your lifestyle.
Unlock Your Home's Potential
Curious about your home equity or thinking of buying in West Hollywood? Our team of expert real estate agents is here to provide you with the insights you need. We can guide you through the various opportunities within West Hollywood to help you make the best decision for you and your family. Contact us at 📱 310-777-6342 for personalized advice and detailed market analysis.