2011 Summer Marina del Rey Real Estate Statistics vs 2012 Marina del Rey Real Estate Statistics

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Marina del Rey Real Estate:

Marina del Rey Real Estate researched statistical data from the Multiple Listing Service analyzing key Marina del Rey real estate market indicators to see how the Marina del Rey real estate market in the Summer of 2011 compared to the Marina del Rey real estate market this last Summer of 2012. Marina del Rey Real Estate’s research was on single family homes in Marina del Rey only, no Marina del Rey condos for sale statistics were analyzed.

Summer of 2011 Marina del Rey Real Estate Market:
Number of Marina del Rey Homes sold:  7 Marina del Rey homes
Average Days on the Market:  105 Days for Marina del Rey Homes for Sale to close on average
Average Price for Marina del Rey Homes Sold:  $1.077M
Average Price per Square Foot of Marina del Rey Homes Sold:  $496 / Square Foot

Summer of 2012 Marina del Rey Real Estate Market:
Number of Marina del Rey Homes sold:  13 Marina del Rey homes
Average Days on the Market:  104 Days for Marina del Rey Homes for Sale to close on average
Average Price for Marina del Rey Homes Sold:  $1.527M
Average Price per Square Foot of Marina del Rey Homes Sold:  $485 / Square Foot

Changes from 2011 to 2012 Summer Marina del Rey Real Estate Market:
Number of Marina del Rey Homes sold:  Up 85%
Average Days on the Market:  Down 1%
Average Price for Marina del Rey Homes Sold:  Up 41%
Average Price per Square Foot of Marina del Rey Homes Sold:  Down 2.4%

Marina del Rey Real Estate believes the statistics outlined above have much to do with the fact that the Marina del Rey Real Estate market is heating up and improving.  Marina del Rey is a highly sought after beach community close to LAX with large employers like Google coming into Venice Beach fueling demand for premium homes in the area now nick named the “Silicon Beach”.

Although on the surface a 85% increase in the number of Marina del Rey homes for sale closing between the two years seems like a lot, we are not dealing with a large enough number of Marina del Rey homes for sale for this to be  significant although 6 more single family home sales in Marina del Rey is a strong improvement.  Also, the average sales price achieved by a Marina del Rey home for sale again is in large part due to more luxury Marina del Rey homes selling in the Summer of 2012 than the values of Marina del Rey homes for sale.  This is evidenced by the average cost per square foot achieved by Marina del Rey homes for sale actually decreasing. 

The average size of the closed Marina del Rey home in 2011 was 2170 square feel while the average size of a Marina del Rey home selling in the Summer of 2012 was 3152 square feet so there was overall a demand for larger and more expensive homes in Marina del Rey in the Summer of 2012 vs the Summer of 2011.Marina del Rey Real Estate’s opinion is that Marina del Rey real estate for sale will continue to be in high demand due to a limited supply and low interest rates and increasing employment opportunities in nearby areas fueling additional demand in the future.

Please contact Marina del Rey Real Estate broker, Mitch Hagerman at 310-963-4358 for any questions about the current Marina del Rey real estate market and for any assistance in selling Marina del Rey homes or in purchasing Marina del Rey homes for sale.

Please also search all available Marina del Rey real estate for sale on our website:  www.Marina del ReyRealEstate.co

Warm Regards,
Mitch Hagerman
Marina del Rey Real Estate Broker
DRE #01897348
Mitch@LALuxuryRealEstate.com
310-963-4358 posted: September 20, 2012 - Marina del Rey Real Estate - Blog
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