Submarket Snapshot: Homes and condos in Marina del Rey in Q1 2016

Los Angeles /
Jun.June 13, 2016 05:38 PM

Jean-Claude Van Damme recently sold his Marina del Rey house for $7.3 million — to none other than rapper-cum-actor Ice Cube. It was one of the priciest transactions recorded in the neighborhood, which saw much more modest averages last quarter.

Five homes sold in Marina del Rey for more than $1 million in the first quarter of the year, according to a report by the Agency. They sold for an average of $1.9 million, and $759 a square foot.

The residences sold at an average of 2 percent over listing price.

Meanwhile, 44 condos traded in the first quarter for more than $500,000, down from 73 in the fourth quarter. They sold for an average of $1.01 million, roughly in line with fourth quarter figures.

The per-square-foot price for condos averaged $654, up from $604 in fourth quarter.

As of April, there were 49 condos listed at average price of $1.15 million and $712 a square foot. There were 17 homes listed for an average of $1.9 million, and $759 a square foot.


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