When it comes to sales involving luxury homes — properties that sell for $3 million or more — the greater Los Angeles market is a major locale. Two neighboring submarkets, Beverly Hills and Beverly Hills Post Office, recently saw luxury home sales volumes increase by more than 80 percent in August when compared to the same month last year.
- Activity in Beverly Hills was hot in August despite average prices ranging from $6.4 million to $7.7 million.
- Pacific Palisades appears to be a consistent market when it comes to year-over-year luxury sales activity.
- Four submarkets accounting for 122 luxury sales in August equates to roughly $850 to $900 million in transaction volume, based on average sales prices.