Main Content

🏡 May 2024 Luxury Real Estate Market Update & Trends for Los Feliz 🌟

🏡 May 2024 Luxury Real Estate Market Update & Trends for Los Feliz 🌟

By Christophe Choo Posted Jun 28, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 May 2024 Luxury Real Estate Market Update & Trends for Los Feliz 🌟

🔼 Avg Sales Price: $2.79 million, 📈 UP 3%

🔼 Avg List Price $4.78 million, 📈 UP 4%

🔼 Properties Sold: 16, 📈 UP 140%

🔻 Days on Market: 16 📆, 📉 down 53%.

🔼 $/Sq FT: $1,105, 📈 UP 4%

Unlock the hidden wealth in your Los Feliz property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Los Feliz? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!

#losfeliz #losfelizrealestate #realestate #marketsnapshot #sellingla #luxuryrealestate #realestateupdate #losfelizhousingmarket #la #losfelizhomeprices #realtor #realestate #homes #homeforsale #homeprices #buyingahome #sellingahome #toprealtor #bestagent

The Los Feliz area of Los Angeles is a delightful blend of old Hollywood charm and modern sophistication. Known for its historic estates, Los Feliz offers a unique mix of trendy vibes, great restaurants, and a close-knit community. One of the most notable properties currently listed is the historic Cedars estate, a crown jewel built in the 1920s, now on the market for $32 million. This iconic estate epitomizes the Hollywood glamour homes of yesteryears, making it a standout in the neighborhood.

Nestled against Griffith Park, one of the largest parks in the country, Los Feliz offers residents easy access to green spaces and hiking trails, while also being conveniently close to downtown LA. This desirable location contributes to its popularity among homebuyers.

Market Highlights

  • Average Sales Price: The average sales price in Los Feliz is around $2.79 million, reflecting a 3% increase from the previous 90 days. This rise indicates a strong demand for homes in this charming neighborhood.
  • Average List Price: The average list price is just under $5 million, up about 4% compared to the previous quarter. This upward trend suggests that sellers are confident in the value of their properties.
  • Properties Sold: May saw a significant increase in property sales, with 16 homes sold, marking a 160% jump. This surge is a positive sign of the market's vibrancy and desirability.
  • Days on Market: The average time a home spends on the market is now just 16 days, a decrease of 50% from the previous 90 days. This rapid turnover highlights the high demand and quick sales in Los Feliz.
  • Price per Square Foot: The price per square foot is approximately $1,105, up about 4% from the previous quarter. This metric underscores the area's growing value and the premium buyers are willing to pay for homes here.

Why Los Feliz?

Los Feliz is not just about its beautiful homes and historic charm; it's also about the lifestyle it offers. The area is vibrant, young, and hip, with a rich cultural scene. Proximity to Griffith Park provides ample opportunities for outdoor activities, making it perfect for those who love nature and the outdoors. Additionally, the array of trendy restaurants and cafes adds to the neighborhood's appeal, making it a foodie’s paradise.

If you appreciate a blend of culture, history, and modern amenities, Los Feliz is an area you should consider. Whether you're looking for a luxurious estate like the Cedars or a charming home nestled in the hills, Los Feliz offers a unique and desirable lifestyle.

Bottom Line

The Los Feliz real estate market is dynamic and flourishing, making it an excellent time to buy or sell a property in this historic and trendy neighborhood. If you're curious about your home equity or considering buying in Los Feliz, let's chat! Reach out at 📱 310-777-6342 for expert insights.

Explore the Los Feliz lifestyle and find your dream home in one of LA's most vibrant communities. 🌴🏠✨

Skip to content