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🏡 May 2024 Luxury Real Estate Market Update & Trends for Cheviot Hills – Rancho Park 🌟

🏡 May 2024 Luxury Real Estate Market Update & Trends for Cheviot Hills – Rancho Park 🌟

By Christophe Choo Posted Jun 13, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 May 2024 Luxury Real Estate Market Update & Trends for Cheviot Hills - Rancho Park 🌟

🔼 Avg Sales Price: $3.36 million, 📈 UP 39%

🔼 Avg List Price $4.13, 📈 UP 4%

🔻 Properties Sold: 4, 📉 down 8%

🔻 Days on Market: 23 📆, 📉 down 39%

🔼 $/Sq FT: $1,163, 📈 UP 3%

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 latest blog post where we delve into the dynamic real estate market of Cheviot Hills and Rancho Park, two of Los Angeles's most sought-after neighborhoods. Known for their family-friendly atmosphere, spacious homes, and beautifully manicured landscapes, these areas offer a suburban oasis adjacent to country clubs, golf courses, and plentiful parks, making them ideal for those who cherish both comfort and outdoor leisure.

Market Trends and Insights

As of May 2024, Cheviot Hills and Rancho Park are witnessing remarkable growth in their housing market. The average sales price has surged by an impressive 39% to $3.36 million, reflecting the high demand and the area's appeal among homebuyers. Meanwhile, the average list price has also seen a steady increase, up 4% to just over $4 million, showcasing a robust seller's market where properties continue to appreciate in value.

Sales Performance

Despite a slight decrease in the number of properties sold—down 8% from the previous period with only four homes changing hands—the market remains active. This dip in sales volume is offset by a significant decrease in days on market, which has dropped by 39% to just 23 days. This rapid turnover rate underscores the area's popularity and buyers' eagerness to secure properties in this prime location.

Price Per Square Foot

The price per square foot in Cheviot Hills-Rancho Park is another indicator of the area's upscale nature, currently standing at $1,163, up approximately 3% from earlier figures. This aligns Cheviot Hills-Rancho Park with some of the most exclusive neighborhoods on the Westside of Los Angeles, where luxury and high-quality living are the norms.

Living in Cheviot Hills-Rancho Park

For those considering a move to Cheviot Hills or Rancho Park, the neighborhoods promise not only a serene residential setting but also proximity to excellent amenities and recreational facilities. The lifestyle here is conducive to family living, with numerous parks, golf courses, and community centers that cater to a variety of interests and ages.

Why Cheviot Hills-Rancho Park?

If you're drawn to the idea of living in a vibrant yet peaceful community, Cheviot Hills and Rancho Park offer an appealing blend of city accessibility and suburban luxury. Whether you're looking to buy a family home or invest in a property, these neighborhoods present a golden opportunity to be part of a thriving real estate market.

For potential buyers and investors, now is an opportune time to explore what Cheviot Hills-Rancho Park has to offer. With property values on the rise and homes selling quickly, securing a spot in this desirable part of Los Angeles could be a wise decision for both your lifestyle and financial future.

Stay tuned for more updates and in-depth analyses of other exciting real estate markets. Whether you’re buying, selling, or just dreaming, we’re here to provide you with valuable insights and guidance in your real estate journey. Explore more about Cheviot Hills and Rancho Park by visiting our website or contacting our team directly. Let us help you find your perfect home in the heart of LA!

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