Marina Del Rey Real Estate Forecast 2019-2020

MARINA DEL REY, Calif. - Nov. 18, 2019 - PRLog -- Per Christiano Sampaio, Broker/Owner of Loftway, a prominent Los Angeles Real Estate Firm

That is to say, that home values are on the rise and with almost no distressed properties, will most likely remain that way into the foreseeable future.

Located on the west coast to the southwest of Los Angeles, Marina Del Rey runs along the Pacific Ocean. It's an unincorporated community, home to the largest man-made small marine vessel harbor in all of North America. Marina Del Rey has a relatively small population, of nearly 8,900 residents and is also home to the Venice Canals, Marine Beach, the Venice Boardwalk, and more.

The median home value in the community of Marina Del Rey currently stands at $1.1 million, with an increase in property values of about 2 percent over the course of the past year.

Right now, economists and real estate professionals both predict that home values in the Marina Del Rey area will increase by 2.8 percent over the next year.

Currently, the median listing price per square foot for homes in Marina Del Rey stands at $781. Additionally, the median selling price in Marina Del Rey is nearly $1.2 million, while the median rental rate in the community is $5,500 per month.

At this time, the distressed property rate in Marina Del Rey is nearly zero or statistically immeasurable. This, compared to the national figure of 1.1 percent. However, the number of homeowners underwater in their mortgages or owing more on their homes than their properties are worth is about 4.3 percent.

All of this clearly shows the residential real estate market in Marina Del Rey is one of the most solid in southern California. With such numbers, Marina Del Rey makes a great place to call home.

Loftway is a full-service Real Estate brokerage dedicated to LOFTS and ARCHITECTURAL homes in the Los Angeles area.

When it's time to move forward with buying a loft, be sure to contact www.loftway.com, the premier Los Angeles Loft sales company.