The top five submarkets in Los Angeles for luxury home sales, those valued at more than $3 million, accounted for a total of 115 transactions spanning December to February.This total is noticeable as it occurred during what is historically a slow period for sales. Additionally, the 115 transactions compare to 94 luxury sales that occurred during the same three-month period last year, according to a Sotheby's International Realty's Greater Los Angeles market report.While a year-over-year increase of 21 sales at first glance doesn't seem significant, a boost of 21 luxury sales means a minimal increase in Los Angeles' overall sales volume of $63 million."The current Southern California luxury market is in a position of strength as the spring home-buying season gets underwa...
- Luxury brokerages are expanding in response to the strength of Los Angeles' high-priced submarkets.
- Beverly Hills and Pacific Palisades are the most active submarkets for luxury home sales.
- The Bel Air - Holmby Hills and Malibu Beach submarkets have the highest average priced luxury sales.