November Market Update

MARKET REPORT

NOVEMBER 2023

Santa Monica Marina del Rey Venice Manhattan Beach Hermosa Beach Redondo Beach Los Angeles

Santa Monica Go to Santa Monica

Report

Marina del Rey Go to Marina del Rey

Report

Venice Go to Venice

Report

Manhattan Beach Go to Manhattan Beach

Report

Hermosa Beach Go to Hermosa Beach

Report

Redondo Beach Go to Redondo Beach

Report

Los Angeles Go to Los Angeles

Report

What's your House Worth in this Market?

As the real estate market continues to evolve, have you ever wondered about the current worth of your house? Whether you're considering selling, refinancing, or simply curious, now is the perfect

time

to

find

out.

Our

team

of

expert

real

estate

professionals is here to help you uncover the true value of your home in today's dynamic market.

Why should you explore the value of your house? Knowing the worth of your property can empower you in several ways. If you're considering selling, understanding its market value can assist you in setting an optimal listing price, attracting potential buyers, and maximizing your return on investment. Moreover, if you're thinking about refinancing, a proper appraisal can help you negotiate better terms and potentially save you money in the long run.

Even if you have no immediate plans to sell or refinance, staying informed about your home's value can be beneficial. It allows you

to

make

utilization,

informed

and

decisions

financial

planning.

about It's

renovations, an

essential

equity tool

to

assess the overall health of your investment and stay ahead in an ever-changing real estate landscape.

Take the first step towards understanding the true value of your home

in

today's

market.

Contact

us

today

to

schedule

a

personalized evaluation. Discover the potential that lies within your

property

and

unlock

new

opportunities

for

your

future.

Don't miss out on this chance to gain invaluable insights into the worth of your house.

- Your Prefered Agents

SANTA MONICA TThe Santa Monica single-family home market experienced several changes between October and November. The supply of new listings decreased by 34.62%, indicating a reduction in the number of single-family homes entering the market. This could be influenced by seasonal trends, seller decisions, or market conditions.

The 22.22% decrease in the number of sold listings suggests a decline in market activity, possibly influenced by factors such as buyer demand or external economic conditions. The 20.27% decrease in the median sale price indicates a notable drop in property values, influenced by property types or market dynamics.

which

could

be

The 25% decrease in the average days on the market suggests that singlefamily homes sold faster in November, indicating an improvement in market competitiveness, potentially driven by factors such as pricing or buyer demand.

Single Family Homes

17

14

New Listings

Sold Listings

$2,95M

27

Median Sale Price

Days on the Market

The Santa Monica condominium market experienced several changes, including a stable supply, a significant decline in market activity, a notable decrease in property values, and a considerable slowdown in market competitiveness between October and November. For potential buyers and sellers, closely monitoring the market and seeking guidance from real estate experts are crucial to navigating these evolving changes effectively.

Understanding the factors driving these trends is essential for making informed decisions in this dynamic real estate landscape.

Condos

28

14

New Listings

Sold Listings

$965M

65

Median Sale Price

Days on the Market

MARINA DEL REY The Marina del Rey single-family home market experienced several changes between October and November. The supply of new listings decreased by 20%, indicating a reduction in the number of singlefamily homes entering the market. This could be influenced by various factors, including seller decisions or seasonal trends.

The most significant change is the 75% decrease in the number of sold listings, reflecting a substantial decline in market activity. The 46.06% decrease in the median sale price indicates a notable drop in property values, possibly influenced by market conditions, property types, or buyer preferences.

The 69.70% decrease in the average days on the market suggests that single-family homes sold much faster in November, indicating a significant improvement in market competitiveness, likely driven by factors such as pricing or buyer demand.

Single Family Homes

4

1

New Listings

Sold Listings

$1,91M

10

Median Sale Price

Days on the Market

Condos The Marina del Rey condominium market experienced several changes, including a growing supply, improved market activity, a notable decrease in property values, and a considerable slowdown in market competitiveness between October and November. For potential buyers and sellers, closely monitoring the market and seeking guidance from real estate experts are crucial to navigating these evolving changes effectively. Understanding the factors driving these trends is essential for making informed decisions in this dynamic real estate landscape.

22

13

New Listings

Sold Listings

$970M

70

Median Sale Price

Days on the Market

VENICE The Venice single-family home market experienced several changes between October and November. The supply of new listings decreased by 30.23%, indicating a reduction in the number of single-family homes entering the market. This could be influenced by various factors, including seller decisions or market conditions.

The most significant change is the 42.86% decrease in the number of sold listings, reflecting a significant decline in market activity. The 42.02% increase in the median sale price indicates a notable rise in property values, possibly influenced by property types, market dynamics, or buyer preferences.

The 227.27% increase in the average days on the market suggests that single-family homes took considerably longer to sell in November, pointing to a significant slowdown in market competitiveness, likely influenced by factors such as pricing or demand variations.

Single Family Homes

30

12

New Listings

Sold Listings

$3,39

72

Median Sale Price

Days on the Market

The Venice condominium market experienced several changes, including a doubling of supply, consistent market activity, a notable increase in property values, and a significant improvement in market competitiveness between October and November. For potential buyers and sellers, closely monitoring the market and seeking guidance from real estate experts are crucial to navigating these evolving changes effectively. Understanding the factors driving these trends is essential for making informed decisions in this dynamic real estate landscape.

Condos

4

1

New Listings

Sold Listings

$1,26M

42

Median Sale Price

Days on the Market

MANHATTAN BEACH

Single Family Homes

15

18

New Listings

Sold Listings

$3,14M

37

Median Sale Price

Days on the Market

The Manhattan Beach single-family home market experienced several changes between October and November. The supply of new listings decreased by 42.31%, indicating a significant reduction in the number of single-family homes entering the market. This could be influenced by various factors, including seasonal trends, seller decisions, or market conditions.

The most significant change is the 200% increase in the number of sold listings, reflecting a substantial improvement in market activity. The 30.83% increase in the median sale price indicates a notable rise in property values, possibly influenced by property types, market dynamics, or buyer preferences.

The 15.63% increase in the average days on the market suggests that single-family homes took slightly longer to sell in November, indicating a slight slowdown in market competitiveness, likely influenced by factors such as pricing or demand variations.

The Manhattan Beach condominium market experienced several changes, including a complete absence of new listings, improved market activity, a significant decrease in property values, and a substantial improvement in market competitiveness between October and November. For potential buyers and sellers, closely monitoring the market and seeking guidance from real estate experts are crucial to navigating these evolving changes effectively. Understanding the factors driving these trends is essential for making informed decisions in this dynamic real estate landscape.

Condos

3

2

New Listings

Sold Listings

$2,06M

2

Median Sale Price

Days on the Market

HERMOSA BEACH The Hermosa Beach single-family home market experienced several changes between October and November. The supply of new listings decreased by 54.55%, indicating a significant reduction in the number of single-family homes entering the market. This could be influenced by various factors, including seasonal trends, seller decisions, or market conditions.

The most significant change is the 60% decrease in the number of sold listings, reflecting a substantial decline in market activity. The 25.83% decrease in the median sale price indicates a notable drop in property values, possibly influenced by market conditions, property types, or buyer preferences.

The 58.70% decrease in the average days on the market suggests that single-family

homes

indicating

significant

a

took

considerably

improvement

less in

time

market

to

sell

in

competitiveness,

driven by factors such as pricing or demand variations.

Single Family Homes

5

November,

2

New Listings

Sold Listings

$1,78M

38

Median Sale Price

Days on the Market

likely

Condos

3

1

New Listings

Sold Listings

$2,38M

9

Median Sale Price

Days on the Market

The Hermosa Beach condominium market displayed several changes between October and November. The supply of new listings increased by 200%, indicating a significant growth in the number of condominiums entering the market.

The 50% decrease in the number of sold listings suggests a slight decline in market activity. The most significant change is the 195.03% increase in the median sale price, indicating a significant rise in property values, possibly influenced by market dynamics, property types, or buyer preferences.

REDONDO BEACH The Redondo Beach single-family home market experienced several changes between October and November. The supply of new listings decreased by 20.83%, indicating a moderate reduction in the number of single-family homes entering the market. This could be influenced by various factors, including seasonal trends, seller decisions, or market conditions.

The stable number of sold listings suggests consistency in market activity. The 11.32% increase in the median sale price indicates a modest rise in property values, possibly influenced by market dynamics, property types, or buyer preferences.

The 17.86% increase in the average days on the market suggests that single-family homes took slightly longer to sell in November, indicating a slight slowdown in market competitiveness, likely influenced by factors such as pricing or demand variations.

Single Family Homes

19

19

New Listings

Sold Listings

$1.77M

33

Median Sale Price

Days on the Market

Condos The Redondo Beach condominium market experienced several changes, including a significant reduction in supply, a slight decline in market activity, a modest decrease in property values, and a moderate slowdown in market competitiveness between October and November.

For potential buyers and sellers, closely monitoring the market and seeking guidance from real estate experts are crucial to navigating these evolving changes effectively. Understanding the factors driving these trends is essential for making informed decisions in this dynamic real estate landscape.

6

10

New Listings

Sold Listings

$889

21

Median Sale Price

Days on the Market

LOS ANGELES The Los Angeles single-family home market experienced several changes between October and November. The supply of new listings decreased by 24.87%, indicating a substantial reduction in the number of single-family homes entering the market. This could be influenced by various factors, including seasonal trends, seller decisions, or market conditions.

The 12.03% decrease in the number of sold listings suggests a moderate decline in market activity. The slight 0.32% decrease in the median sale price indicates a minor drop in property values, possibly influenced by market conditions, property types, or buyer preferences.

The 3.57% increase in the average days on the market suggests that single-family homes took slightly longer to sell in November, indicating a modest slowdown in market competitiveness, likely influenced by factors such as pricing or demand variations.

Single Family Homes

3,008

2,380

New Listings

Sold Listings

$937

29

Median Sale Price

Days on the Market

Condos The Los Angeles condominium market experienced several changes, including a significant reduction in supply, a slight decline in market activity, a moderate increase in property values, and a moderate slowdown in market competitiveness between October and November. For potential buyers and sellers, closely monitoring the market and seeking guidance from real estate experts are crucial to navigating these evolving changes effectively. Understanding the factors driving these trends is essential for making informed decisions in this dynamic real estate landscape.

825

592

New Listings

Sold Listings

$675

35

Median Sale Price

Days on the Market

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