Luxury homes prices rising by double digits in top LA markets

Malibu Beach, Beverly Hills, Beverly Hills Post Office represent most expensive locales
  • Beverly Hills and Beverly Hills Post Office are the top luxury markets in Los Angeles when it comes to both average sales prices and quarterly sales volume
  • Malibu Beach luxury home prices rise despite recent initiative
  • Prices for luxury homes only seem to be going up in most of Los Angeles' high priced markets

During the third quarter luxury homes in Malibu Beach sold for an average of $9.433 million, the highest price tag for luxury residences in Los Angeles’ 33 premier markets. Malibu’s average sales price also represented a 15 percent year-over-year increase in home values for the submarket, according to a report from Sotheby’s International Realty. The report considers luxury homes to be properties that sell for more than $3 million.