Are you wondering what’s currently going on in the Los Angeles luxury real estate market? In this episode of Highest Or Best, I’m going to take you through some mind-blowing data so you know exactly what’s up with the market. We’ll look at sales made and money spent in the top luxury areas of Los Angeles.
High-End Luxury Home Sales In Los Angeles
The data doesn’t lie; the luxury real estate market in Los Angeles is definitely hot. The number of closed sales of $5+ million, so far this year, is 939. Compare this with 569 this same time last year and you can see we’re up 90%.
Of these home sales, 313 were $10+ million this year, while there were 165 $10+ million sales at the same time last year. Again, up 90%. Additionally, 87 of these homes were $20+ million this year compared to 46 closed sales of $20+ plus million at the same time last year. That’s also up 90%.
We are also way ahead in sales of $30+ million and $40+ million as well. Of the 87 sales of $20+ million, 28 were $30+ million versus 13 at the same time last year. That means the sales in this range are up 115%. Additionally, 16 were $40+ million, while there were just 6 at this time last year. That’s up a whopping 166%.
Pending Sales And Unlisted Transactions
As of November of 2021 in the Los Angeles luxury real estate market, there are 128 pending sales of $5+ million, and 43 of those are $20+ million or more. The areas of the sales are 23 in Malibu, 22 in Beverly Hills, 8 each in Pacific Palisades and Bel Air, 6 each in Beverly Hills Post Office, Brentwood, Holmby Hills, and Sunset Strip, and one each in Westwood and Santa Monica.
Of the 87 sales of $20+ million, 34 were not listed at the time of the sale. This means that 39% of the market traded in a quiet, unlisted transaction.
We’re Here To Help
I hope this gave you a snapshot of the current market conditions in Los Angeles’ luxury real estate market. If you’d like more information about any Los Angeles neighborhood or what it’s like to live in a particular area, we can help. We’ve got clients just like you looking into Los Angeles and reaching out to us every day—and we absolutely love it.
So if you’re thinking about moving or relocating anywhere in the Los Angeles area, give us a call, shoot us a text, send us an email, or schedule a zoom call with a member of my team. You can also subscribe to my channel so you never miss an episode of Highest Or Best, my show all about living well, working, eating, chilling, and truly having fun in Los Angeles, California. I’m a proud LA native, and I look forward to showing you more of Los Angeles on my next episode!