LA LUXURY MARKET: WHAT $258 MILLION IN WEEKLY SALES TELLS US

Los Angeles recorded 39 closed single family sales at $4 million and above for the week ending October 4, totaling approximately $258.4 million in closed volume. That compares with 48 sales and approximately $307.6 million during the same week last year, representing a 19% decline in transactions and a 16% decline in dollar volume. Despite the slower pace, the average sale price increased slightly to $6.63 million from $6.41 million a year ago.

At the top of this week’s market, 1140 Laurel Way in Beverly Hills closed for $19.25 million, the highest sale of the week.

1228 Amalfi Drive followed at $12.475 million, notably closing well above its $9.89 million asking price after just 13 days on market.

Other significant closings included 4543 Densmore Avenue in Encino at $12 million, 24928 Malibu Road at $11.75 million, 10810 Ambazac Way at $11.5 million, and 448 21st Street in Santa Monica at $11.415 million. The Santa Monica property also sold above its $11.295 million asking price after only 11 days on market.

A FEW NOTABLE SALES FROM THE WEEKS WE MISSED

6825 Zumirez Drive | Malibu | $28.07M

The Malibu estate, owned by the former wife of composer Hans Zimmer, closed for $28.07 million. Originally offered at $36.995 million in 2024, the property was most recently asking $30 million.

2000 De Mille Drive | Los Feliz | $24.75M

One of the more notable celebrity real estate transactions of the past several weeks, the historic Los Feliz estate previously owned by Angelina Jolie sold to Madonna for $24.75 million. The approximately 11,000 square foot property was listed at $29.85 million and spent 143 days on market.

THE TAKEAWAY

The year over year numbers point to a luxury market with fewer transactions and lower overall dollar volume, but not lower values across the board. Average sale price actually edged higher, while several of this week’s strongest properties generated enough competition to sell above asking. At the same time, some of the largest recent transactions required meaningful adjustments from their original pricing, reinforcing just how property specific the market remains.

Based on reported MLS single family sales of $4 million and above.