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🏡 May 2024 Luxury Real Estate Market Update & Trends for Marina Del Rey 🌟

🏡 May 2024 Luxury Real Estate Market Update & Trends for Marina Del Rey 🌟

By Christophe Choo Posted Jun 20, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Real Estate Articles, Videos

🏡 May 2024 Luxury Real Estate Market Update & Trends for Marina Del Rey 🌟

🔼 Avg Sales Price: $2.17 million, 📈 UP 3%

⚪️ Avg List Price $2.96 million, no change 0%

⚪️ Properties Sold: 6, no change 0%

🔼 Days on Market: 38 📆, 📈 UP 10%

🔻 $/Sq FT: $892, 📉 down 4%

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

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Welcome to the latest update on the luxury real estate market in Marina Del Rey for May 2024! Nestled in the heart of Los Angeles, Marina Del Rey offers a unique blend of relaxation and coastal living with its stunning high-rise condos, waterfront dining, and vibrant marina life. This charming area is particularly appealing to boat lovers, waterfront lifestyle enthusiasts, and international buyers looking for a pied-à-terre close to LAX airport. Let's dive into the current market trends and data for this desirable locale.

Average Home Prices

As of May 2024, the average home price in Marina Del Rey is $2.17 million, reflecting a 3% increase from the previous 90-day cycle. This steady rise in prices underscores the growing demand for homes in this coastal haven. The list prices have remained stable, holding just under $3 million, indicating a balanced market where buyers and sellers are finding common ground.

Properties Sold

In May, six properties were sold in Marina Del Rey, maintaining the same level as the previous period. This consistency suggests a stable market with a steady flow of transactions, catering to those looking for the perfect waterfront property.

Days on Market

One notable trend is the increase in the average days on market, which has risen to 38 days, up by 10%. While this might indicate a slight slowdown in buyer urgency, it also provides buyers with more time to make well-informed decisions in a competitive market.

Price Per Square Foot

The price per square foot in Marina Del Rey is currently at a very reasonable $892, down by 4% from the previous cycle. This slight decrease makes it an attractive option for buyers seeking luxury living at a more accessible price point compared to other high-end Los Angeles neighborhoods.

Why Marina Del Rey?

Marina Del Rey is renowned for its serene coastal lifestyle, offering residents the perfect blend of city and beach living. The area boasts beautiful high-rise condos with spectacular marina views, waterfront dining options that cater to all tastes, and a vibrant community of boat lovers and outdoor enthusiasts. Its proximity to LAX airport makes it ideal for international buyers and frequent travelers.

Unlock the Potential of Your Marina Del Rey Property

If you're curious about the hidden wealth in your Marina Del Rey property or thinking about buying in this stunning locale, now is a great time to explore your options. The consistent market trends and reasonable price per square foot present a prime opportunity for both buyers and sellers. Whether you are looking to enjoy the marina lifestyle or invest in a property with potential for appreciation, Marina Del Rey is the place to be.

Conclusion

The luxury real estate market in Marina Del Rey remains strong and stable, with slight increases in home prices and consistent sales activity. For those looking to immerse themselves in a waterfront lifestyle while staying connected to the bustling city of Los Angeles, Marina Del Rey offers the perfect blend. For more insights into the Beverly Hills real estate market, home prices, market updates, and properties sold, stay tuned to our blog. If you're ready to explore your options in Marina Del Rey or Beverly Hills, feel free to contact us today!

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