🏡 May 2024 Luxury Real Estate Market Update & Trends for Brentwood, CA 🌟
🏡 May 2024 Luxury Real Estate Market Update & Trends for Brentwood 🌟
🔼 Avg Sales Price: $5.71 million, 📈 UP 17%
🔼 Avg List Price $9.92 million, 📈 UP 5%
🔻 Properties Sold: 13, 📉 down 7%
🔻 Days on Market: 28 📆, 📉 down 5%
🔼 $/Sq FT: $1,273, 📈 UP 1%
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Brentwood Real Estate Market Update: May 2024
Welcome to our in-depth look at the Brentwood real estate market for May 2024. Nestled in a serene, upscale neighborhood in Los Angeles, Brentwood is renowned for its tree-lined streets, proximity to the ocean, and prestigious private schools, making it a sought-after location for families and celebrities alike.
Market Trends and Insights
This month, the Brentwood area has shown impressive growth in its housing market. The average sales price has risen to $5.71 million, marking a significant 17% increase from the previous quarter. This upward trend reflects Brentwood's enduring appeal and its status as one of LA’s premier residential enclaves.
The average listing price in Brentwood is now just under $10 million, up about 5% from earlier this year. These figures might seem staggering compared to national averages, but they underscore the premium lifestyle and exclusivity that Brentwood offers. Its proximity to both the bustling city center of Los Angeles and the tranquil shores of the Pacific amplifies its allure to high-profile individuals and those seeking a blend of city convenience and coastal serenity.
Despite a slight 7% decrease in the number of properties sold, with 13 homes changing hands this May, the Brentwood market remains robust. Homes here spend an average of 28 days on the market, which is relatively quick, demonstrating the area's high demand and the efficiency of its real estate market dynamics.
Pricing Per Square Foot
Brentwood also stands out with a price per square foot of $1,273, slightly up by 1% from the previous period. This is indicative of the high-quality real estate and the luxurious amenities that properties in this area typically offer, from sprawling estates to meticulously designed homes that cater to the upper echelons of society.
Why Brentwood?
Living in Brentwood offers more than just prestigious addresses. It provides a lifestyle that combines the tranquility of country living with the conveniences of city life, making it uniquely positioned just west of the 405 freeway. Whether you're a professional seeking a quiet retreat from the city buzz or a family looking to take advantage of some of the best educational opportunities in Los Angeles, Brentwood offers a compelling proposition.
Final Thoughts
Brentwood's real estate market continues to thrive, driven by its reputation as a tranquil yet well-connected community. For those considering investing in or relocating to Brentwood, the current market dynamics suggest a promising opportunity to own a part of this exclusive Los Angeles neighborhood. If you’re intrigued by the possibility of living in Brentwood, explore more on my website or contact us for tailored advice and insights into making your home buying dream a reality in this distinguished part of Los Angeles.
Whether you’re buying, selling, or simply exploring the possibilities, Brentwood's market remains a beacon for luxury and quality in the heart of LA. Let’s connect and discuss how you can be part of this vibrant community.