$10,000 Closing Credit*
$1,899,000
4,831 SqFt
7 Beds
•5 Baths
Sheri Bienstock, Listing Office: The Bienstock Group
Is Miracle Mile, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Miracle Mile has remained a Seller's Market.
Key Takeaway
Miracle Mile is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Miracle Mile, CA
How much do homes in Miracle Mile, CA cost?
Median Sold Price
$1,770,755
$730/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$220,755(+14.2%)
Key Takeaway
Homes in Miracle Mile have sold for 14.2% more than they did a year ago.
Summary: The median home sold price in Miracle Mile was $1,770,755 in October 2024, up 14.2% from last year, and the median price per square foot was $730.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $537K | N/A |
| 2 Bedrooms | $980K | $897.7K | -8.4% |
| 3 Bedrooms | $1.5M | $1.8M | +14.4% |
| 4 Bedrooms | $2.1M | $1.7M | -17.9% |
| 5+ Bedrooms | $2.0M | $2.2M | +10.5% |
Summary: Miracle Mile housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.4%, 3 bedroom homes increased by 14.4%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Miracle Mile | $1.5M | $1.7M | +14.2% |
| Mid-Wilshire | $1.4M | $1.6M | +10.2% |
Housing Supply in Miracle Mile, CA
How many homes are available in Miracle Mile, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 47 | 59 | +25.5% |
Summary: The Miracle Mile real estate market had 59 homes for sale in October 2024, a 25.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 17 | 21 | +23.5% |
Summary: The Miracle Mile housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 23.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 11 | +175.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Miracle Mile, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Miracle Mile in October 2024, up by 175.0% month-over-month. Of the 11 sold homes, 73% were sold under asking, 18% were sold at asking, and 9% were sold over asking.
Days on Market for Miracle Mile, CA
How long does it take to sell a home in Miracle Mile, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 45 Days | +29.9% |
Summary: Homes in Miracle Mile had an average of 45 days on market in Oct 2024, up by 29.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Miracle Mile has remained consistent over time.
Summary: During October 2024, 11 homes were sold in Miracle Mile; 36% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.