🏡 June 2024 Luxury Real Estate Market Update & Trends for The Sunset Strip- Hollywood Hills 🌟
🏡 June 2024 Luxury Real Estate Market Update & Trends for The Sunset Strip- Hollywood Hills 🌟
🔻 Avg Sales Price: $3.22 million, 📉 down 23%
🔻 Avg List Price $5.92 million, 📉 down 7%
🔻 Properties Sold: 20, 📉 down 29%
🔻 Days on Market: 49 📆, 📉 down 8%
🔼 $/Sq FT: $1,230, 📈 UP 10%
Unlock the hidden wealth in your Sunset Strip property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Sunset Strip? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!
#sunsetstrip #hollywoodhillswest #sellingla #realestate #marketsnapshot #luxuryrealestate #realestateupdate #sunsetstriphousingmarket #la #sunsetstriphomeprices #realtor #realestate #homes #homes for sale #homeprices #toprealtor #bestagent #buyingahome #sellingahome
Market Overview
In June 2024, the average sales price for homes in the Sunset Strip area was approximately $3.22 million, marking a 23% decrease compared to the previous 90 days. This adjustment provides potential buyers with an excellent opportunity to invest in luxury real estate at a more competitive price. The average list price is just shy of $6 million, down about 7% from the last quarter.
Properties Sold and Market Time
A total of 20 properties were sold in the month of June, representing a 29% decrease from the previous 90 days. Despite this reduction, the market remains active with a relatively short average market time of 49 days, down 8%. This indicates that well-priced homes are still in high demand and are selling quickly.
Price Per Square Foot
The average price per square foot in the Sunset Strip area has increased by 10%, now standing at $1,230. This rise reflects the enduring appeal and value of properties in this sought-after location, which combines the allure of Hollywood glamour with the convenience of urban living.
Why Choose the Sunset Strip?
The Sunset Strip, nestled within the Hollywood Hills and adjacent to Beverly Hills, is renowned for its vibrant nightlife, upscale amenities, and luxury homes. It’s an ideal place for those who crave a lively and energetic lifestyle while enjoying the benefits of living in a prestigious neighborhood. Whether you're drawn to its famous entertainment venues, trendy restaurants, or high-end boutiques, the Sunset Strip offers an unparalleled Southern California experience.
Unlock the Hidden Wealth in Your Sunset Strip Property
Curious about your home equity or thinking of buying in the Sunset Strip? Our team of expert real estate agents is here to provide you with the insights you need. With the current market trends, now might be the perfect time to explore your options and make the most of your real estate investment. Contact us at 📱 310-777-6342 or send us a DM for personalized advice and market analysis.
Bottom Line
The Sunset Strip continues to be a prime location for luxury real estate, offering a unique blend of city living and Hollywood glamour. With the current adjustments in home prices and market activity, it's an excellent time to consider buying or selling in this vibrant area. Connect with a knowledgeable real estate agent to navigate this dynamic market and make informed decisions.