Condo market trends for the Marina del Rey community of Silicon Beach.

How’s The Market Marina del Rey?

The #1 question realtors get asked is “how’s the market?” It’s such a big question. I almost never know where to start. Different people think different criteria tell the story. Below are six that I think best answer the question, along with trend graphs as of September 30th. All graphs depict a 12 month rolling average to smooth out the trendlines.

New Listings

In Marina del Rey, there were 89 attached home listings in September compared to 90 listings in August, a stable number for over a year. In this post, we are reporting specifically on “attached” homes. In Marina del Rey, there are a boatload of condos and townhomes available. Single family home in the Marina will be reported separately. Contact us if you want Marina del Rey condos vs. townhomes graphs or Marina del Rey single family homes.

Months Supply

Months Supply is a good indicator of a sellers’ versus a buyers’ market. Typically, a market that favors sellers has less than six months of supply (listings). Marina del Rey attached homes have been on a downward trend since late 2015 and are currently sitting at two months of supply, still solidly in seller territory. In a seller’s market, a buyer can expect to pay their own closing costs and other negotiable amounts, and buyers can also expect competition from other buyers. Know what you want, have your financing and buyer agent tee’d up and be prepared to move quickly.

Price Reductions

Price reductions are a mixed bag as far as being an indicator of any trend, but people still love to talk about this metric.

Sometimes a seller starts out unrealistic and has to “right-price.” Sometimes the agent is from out of area and doesn’t know that Marina del Rey has a large supply of both attached and detached family homes and lumps all the metrics together. It takes some real analysis of the price reductions to see if there is a broader trend working.

So far this month, we’ve seen zero price reductions in Marina del Rey for attached homes. As you can see from the graph, MdR attached homes sell for a hair over list.

Price Per Square Foot

The average price per square foot is on a steady march up in Marina del Rey, currently hanging out at $716/ft for attached family homes. Different property types and bed/bath configurations likely have their own average PPSF. Contact us if you want to see a graph for a particular property type or bed/bath configuration.

Days On Market

Days on market can be an indicator of demand. If DOM is trending down, properties are moving faster (higher demand). Attached family homes in Marina del Rey are a hot ticket. Homes are on the market an average of 28 days.

Back on Market

Zero single attachd homes fell out of escrow in Marina del Rey in the last seven days.

Distressed Properties In Marina del Rey

There are no distressed attached homes on the market today in Marina del Rey. Contact us if you want to be alerted when one comes on the market.

Assumptions & Other Markets

This report was written for attached homes in the Marina del Rey community of Silicon Beach. Similar reports can be generated on request for neighborhoods or property types withing Marina del Rey 90292. For example, in MdR there are significant metric differences between detached family homes and attached family homes.ย Contact us for custom reports.

Click these links to find market reports for Venice real estate, Mar Vista real estate, Playa del Rey real estate, Westchester real estate, Playa Vista real estateย and El Segundo real estate.

Wondering what your Marina del Rey property is worth?

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Tracy Thrower Conyers, Silicon Beach Real Estate Expert

Tracy Thrower Conyers is a realtor specializing in residential and residential income properties in Silicon Beach โ€“ the beach communities from Santa Monica to El Segundo, including Mar Vista, Playa Vista and Westchester. Tracy is a former attorney and real estate tech entrepreneur who uses her tenacity, eye for detail, razor sharp negotiation skills and passion for social marketing to help clients make smart, strategic and successful real estate decisions. Tracy is a recognized expert on the "Silicon Beach" effect on residential real estate and has been featured by respected media outlets including the LA Times, KPCC and KCET. Do you know somebody who is getting ready to buy a home or residential income property in Silicon Beach? Tell them about Tracyโ€™s weekly DIY Open House Tours. For sellers in Silicon Beach, tell them about Tracyโ€™s detailed home valuation reports and sophisticated digital marketing and pricing strategies. Tracy appreciates referrals and provides a generous thank you. Contact her for details.

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