The luxury housing market in Southern California continues to venture forward in the second quarter of the year with modest annual gains. According to Sotheby’s International Realty’s Greater Los Angeles Market Report, overall luxury home sales increased 5 percent annually in the first half of 2016.
- The luxury housing market in Los Angeles saw a 5 percent increase in home sales to 432 from January to June in 2016.
- Brentwood was the most active neighborhood, with 37 luxury home sales, which was a 16 percent annual increase.
- The average sold price for a home was led by Bel Air-Holmby Hills, which was $9,752,638.