FEWER SALES, BIGGER PRICES: LA LUXURY BUYERS ARE STILL SPENDING

A total of 24 single-family homes priced at $4 million and above closed during the week, generating approximately $176.2 million in sales volume. The average sale price was $7.34 million, with a median of $5.82 million.

Compared to the same period last year, luxury home sales declined 25%, from 32 transactions to 24. However, total sales volume fell by less than 10%, while the average sale price increased by more than 20% and the median sale price rose nearly 14%.

The three highest-priced sales were on Marlboro Street at $21.145 million, Hidden Ridge at $15.3 million, and Carmelina Avenue at $11.26 million. Carmelina Avenue sold above its $10.35 million asking price after just 15 days on the market.

Yes. Well-positioned properties continue to attract buyers and sell quickly. Durham Road in Beverly Hills closed at $9.6 million after just three days on the market, while Carnavon Way sold for $6.136 million, above its $5.6 million asking price, after six days.

The latest figures suggest that luxury buyers remain selective, but demand persists for desirable, well-priced properties. Sellers who position their homes strategically can still attract strong interest and potentially achieve above-asking-price offers, while buyers need to be prepared to act decisively when the right property becomes available.