Marina del Rey Market Update 2024
As of November 2024, the housing market in Marina del Rey, California,
exhibits several notable trends:
Median Home Prices:
The median sale price stands at $1.2 million, reflecting a 4.7%
decrease compared to the previous year. Redfin
The median price per square foot has risen by 22.9%, reaching $768.
Redfin
Market Dynamics:
Homes typically receive two offers and remain on the market for
approximately 67 days, indicating a somewhat competitive
environment. Redfin
In October 2024, six homes were sold, up from five in the same month
last year. Redfin
Inventory and Sales:
The market had 23 homes for sale in October 2024, consistent with
the previous month. Rocket Homes
The average days on market decreased significantly to 14 days, a
62.2% reduction from the previous year. Rocket Homes
Price Trends by Property Type:
One-bedroom homes: Median price of $485,200, down 12.6% year-
over-year.
Two-bedroom homes: Median price of $582,500, down 18.5%.
Three-bedroom homes: Median price of $759,900, down 10.4%.
Rocket Homes
Comparison with Nearby Neighborhoods:
Regatta: Median price of $1.4 million, up 9.6%.
Silver Triangle: Median price of $1.8 million, up 1.2%.
Venice: Median price of $1.9 million, down 3.6%. Rocket Homes
Market Classification:
Marina del Rey is currently a buyer's market, with prices tending to
be lower and homes staying on the market longer. Rocket Homes
Conclusion: The Marina del Rey housing market in late 2024 presents a mixed
landscape, with declining median home prices but increased price per square
foot. The shift to a buyer's market suggests favorable conditions for
purchasers, while sellers may need to adjust expectations accordingly.
Note: Data is sourced from Rocket Homes and Redfin as of November 2024.
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