A. BRADLEY NELSON
Chief Marketing Officer Sotheby's International Realty
AVIEWFROM LOSANGELES The past year has been unprecedented on many fronts, including unexpected shifts in housing demand. Here in Los Angeles, the luxury market was fueled by buyers looking for homes with amenities in Beverly Hills, Bel Air, Brentwood and Pacific Palisades, with the coastal market of Malibu seeing a significant surge in popularity as second home markets took off in the second half of the year, mirroring universal trends explored in this report.
RECENTMARKETMOVER
The value of what defines a ?luxury? property can vary widely around the world, though the most expensive home sold in the USlast year was a US$165million mansion right here in Beverly Hills. While that was the high-water mark, luxury sales of $10 million plus are a little more indicative of the luxury market.
In addition to the record sale in Beverly Hills, the Bel Air market had a 43million-dollar sale, Brentwood's record for the year was $26 million, and Pacific Palisades came in at $24 million.
In Beverly Hills, 2020 saw 20%more sales of properties priced $10M + in comparison with 2019. Similarly, in Brentwood, there were 15%more sales north of $10M in 2020. The under $5M mark was also up significantly in 2020. Interestingly, the only price category with decreased sales in 2020 was the $5M to $10M range.
Inventory levels of luxury properties have inched up slightly to close out 2020, with attractive properties available in each of our core luxury markets. We invite you to explore them all at TheCilicGroup.com
JOE CILIC
33%
More luxury sales in Greater Los Angeles $10M+ year-over-year Information based on MLS sales 2
Jim Bartsch Photography
Broker Associate | TheCilicGroup.com Sotheby's International Realty 310.925.1402 | Joe.Cilic@Sir.com
BEVERLY HILLS TENNIS COURT ESTATE
120 1 Tower Grove Drive Beverly Hills, CA 90210 $59,50 0,0 0 0 Ultimate privacy behind gates, this estate is situated on just over 3 acres of gorgeous grounds by Christine London. Approximately 16,439 square feet of interiors by renowned designer Michael Smith. Two-story guest house, pool house + pavilion, championship tennis court , gym and 5,70 0 square foot separate office.