LOS ANGELES LUXURY CLOSED SALES: $26 MILLION BRENTWOOD SALE LEADS ANOTHER ACTIVE WEEK

Twenty-nine unique single-family homes priced at $4 million and above closed across Los Angeles County last week, generating approximately $191.4 million in total volume. The average sale price was approximately $6.60 million, while the median was $5.205 million. Three properties traded at $10 million or above, led by a $26 million closing in Brentwood.

This week’s highest closing was 12846 Highwood Street in Brentwood, which sold for $26 million. The approximately 13,077-square-foot residence was first listed in 2023 at $39.875 million and had been on and off the market for several years before most recently asking $34.5 million. The eventual sale represents a nearly 35% reduction from its original asking price, illustrating the extended path to a closing we continue to see with some of Los Angeles’ highest-priced properties. The home ultimately traded at approximately $1,988 per square foot.

The second-highest sale was 508 N Canon Drive in Beverly Hills, which closed for $12 million against a last asking price of $13.65 million. The 6,130-square-foot home traded at approximately $1,958 per square foot.

Rounding out the top three was 5343 Amestoy Avenue in Encino, a newly built 9,550-square-foot estate that sold for $10 million, just below its $10.495 million asking price after only 18 days on market.

The South Bay continues to stand out at the upper end of the market. Last week, Palos Verdes Estates and Manhattan Beach produced the two largest closings, and both markets showed strength again this week. 1816 Paseo Del Mar in Palos Verdes Estates closed for $9.75 million, 2816 Paseo Del Mar sold for $7.7 million, and 3311 Elm Avenue in Manhattan Beach also closed at $7.7 million.

The broader trend is worth watching. Los Angeles luxury volume got off to a slower start this summer, but recent weeks have shown a meaningful pickup in activity. Last week, 26 $4 million-plus single-family homes closed for approximately $178.9 million; this week, 29 unique homes generated approximately $191.4 million. That brings the two-week total to roughly $370 million in closed volume.

The continued strength in the South Bay, combined with several larger closings across Brentwood, Beverly Hills and Encino, adds to the recent increase in activity we have been seeing across the Los Angeles luxury market.