🏡 June 2024 Luxury Real Estate Market Update & Trends for Cheviot Hills – Rancho Park 🌟
🏡 June 2024 Luxury Real Estate Market Update & Trends for Cheviot Hills - Rancho Park 🌟
🔼 Avg Sales Price: $4.08 million, 📈 UP 31%
🔻 Avg List Price $3.91, 📉 down 5%
🔻 Properties Sold: 3, 📉 down 31%
🔻 Days on Market: 8 📆, 📉 down 79%
🔼 $/Sq FT: $1,390, 📈 UP 23%
Unlock the hidden wealth in your Cheviot Hills property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Cheviot Hills? 🏠🌴 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 luxury real estate market update for Cheviot Hills - Rancho Park, a family-friendly enclave in Los Angeles known for its spacious homes, well-manicured lawns, and proximity to country clubs, golf courses, and parks. Let's dive into the latest market trends and insights for this charming neighborhood.
Market Overview
Cheviot Hills and Rancho Park offer a serene and upscale lifestyle, making them highly sought-after areas in LA. Here’s a snapshot of the market activity for June 2024:
- Average Sales Price: The average sales price in Cheviot Hills - Rancho Park is just over $4.08 million, representing a significant increase of 31% compared to the previous 90 days. This surge indicates strong demand and appreciation in property values.
- Average List Price: The average list price is slightly under $3.91 million, showing a 5% decrease from the previous cycle. This suggests that sellers are pricing competitively to attract buyers in a dynamic market.
- Properties Sold: Only three properties were sold in June, a 31% decrease from the previous period. Despite the lower number of transactions, the high demand and short market times reflect a competitive environment.
- Days on Market: Homes in this area spent an average of just eight days on the market, making it the shortest market time in LA for the month of June. This rapid turnover highlights the high desirability of Cheviot Hills - Rancho Park properties.
- Price Per Square Foot: The price per square foot has risen by 23% to $1,390, underscoring the premium that buyers are willing to pay for homes in this prime location.
Why Cheviot Hills - Rancho Park?
Cheviot Hills and Rancho Park are perfect for families looking for a peaceful yet vibrant community. The area is known for its excellent schools, lush green spaces, and convenient access to the best of Los Angeles living. With close proximity to Beverly Hills and other upscale neighborhoods, residents enjoy both tranquility and easy access to high-end amenities.
Unlock the Hidden Wealth in Your Cheviot Hills Property
Are you curious about your home equity or thinking of buying in Cheviot Hills? 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 Cheviot Hills 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.
Bottom Line
Cheviot Hills - Rancho Park continues to be a prime location for luxury real estate, offering a unique blend of family-friendly amenities and upscale living. Whether you're buying or selling, understanding the current market trends and leveraging expert insights is crucial. Connect with a knowledgeable real estate agent to navigate this competitive market and make informed decisions.