🏡 June 2024 Luxury Real Estate Market Update & Trends for West Los Angeles🌟
🏡 June 2024 Luxury Real Estate Market Update & Trends for West Los Angeles🌟
🔻 Avg Sales Price: $995k, ,📉 down 22%
🔼 Avg List Price $1.84million, 📈 UP 4%
Properties Sold: 2, no change 0%
🔻 Days on Market: 27 📆, 📉 down 45%
🔻 $/Sq FT: $741, 📉 down 6%
Unlock the hidden wealth in your West LA property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in West LA? 🏠🌴 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 West Los Angeles, one of the most affordable and underrated areas on the Westside of LA. If you’re considering buying a home in this vibrant community, now might be the perfect time. Let’s dive into the latest trends and data for the West LA real estate market.
Market Overview
West Los Angeles, often referred to as West LA, is a hidden gem in the bustling Westside of LA. Known for its affordability and prime location, it offers a fantastic opportunity for homebuyers, particularly first-time buyers. Here’s what the market looked like in June 2024:
- Average Sales Price: The average sales price in West LA is currently $995,000, which is quite rare to find in Los Angeles. This price point represents a 22% decrease, making it an attractive option for buyers looking for value.
- Average List Price: The average list price is $1.84 million, up by 4% from the previous period. This increase suggests that sellers are optimistic about the market's potential.
- Properties Sold: Only two properties were sold in June, indicating a limited inventory. However, finding a home in this area is considered lucky due to its desirability and affordability.
- Days on Market: Homes in West LA have an average market time of just 27 days, down by 45%. This quick turnover highlights the high demand and competitiveness of the market.
- Price Per Square Foot: The average price per square foot is $741, which is down by 6%. This affordability, combined with the area’s location, makes it an excellent choice for homebuyers.
Why West LA?
West LA is bordered by prominent neighborhoods like Brentwood and Santa Monica, providing residents with access to upscale amenities and a relaxed coastal lifestyle. It’s an ideal location for first-time buyers and anyone looking to invest in a vibrant and well-connected area.
- Affordability: Compared to other parts of Los Angeles, West LA offers more affordable home prices, making it an attractive option for buyers.
- Location: Situated just west of the 405 freeway, it’s conveniently located near major hubs, offering easy access to the best of LA’s dining, shopping, and entertainment.
- Community: West LA boasts a friendly and diverse community, making it a welcoming place for new residents.
Unlock the Hidden Wealth in Your West LA Property
Curious about your home equity or thinking of buying in West LA? 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 LA 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
West Los Angeles continues to be a prime location for affordable luxury real estate, offering a unique blend of value and convenience. 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.