Why has there been a 393% increase in the Beverly Hills & L.A. luxury real estate market in 9 years?

Los Angeles Westside, Market Update 2017 Review versus 2016

2017 : $10,000,000 + Sales – 185 up 15% from 2016
393% increase in 9 years
2016: ~ $10,000,000 + Sales ~ 160
2015: ~ $10,000,000 + Sales ~ 140
2014: ~ $10,000,000 + Sales ~ 131
2013: ~ $10,000,000 + Sales ~ 95
2012: ~ $10,000,000 + Sales ~ 92
2011: ~ $10,000,000 + Sales ~ 56
2010: ~ 10,000,000 + Sales ~ 68
2009: ~ $10,000,000 + Sales ~ 39
2008: ~ $10,000,000 + Sales ~ 47

Luxury home sales for all of 2017 vs 2016
$5 m+ 602 in 2017 versus 514 in 2016 – Up 17%
$10m+ 185 in 2017 versus 160 in 2016 – up 15%
$20m+ 52 in 2017 versus 33 in 2016 – up 57%
$30m+ 23 in 2017 versus 14 in 2016 – up 64%
$40m+ 10 in 2017 vs 4 in 2016 up 250%

Of the 52 sales of $20 M+ where are they located?
10 in Beverly Hills (city), 13 in Malibu, 8 in Bel Air, 7 in Beverly Hills Post Office 90210 (Los Angeles) 3 in Holmby Hills, 4 in the Sunset Strip, 2 in Pacific Palisades, 2 in Santa Monica, 1 in Los Feliz, 1 in Westwood, 1 in Brentwood.

$20m+ sales 51 total sales– who is buying?
38 American, 4 Chinese (28% of foreign buyers) 1 indonesian, 1 Canadian, 4 UK (28% of foreign buyers),
1 Scotland, 2 South African, 1 French
31 out of 52 sold off market (interesting) 67%

The highest sales were,
454 Cuesta Way in Bel Air for $88,000,000 to Beyonce and Jay Z,
22108 PCH in Malibu for $85,000,000 to Mark Walter,
1187 Hillcrest in Beverly Hills for $65,000,000 Danny Thomas to Even Metropoulos,
859 Woodacres in Santa Monica for $41,082,000 to Kevin Washington,
1520 Gilcrest in BHPO for $38,500,000 to Sir Tom Hunter,
1 Electra in Sunset Strip for $33,350,000 to Woodbridge Investment Fund
2000 De Mille Drive in Los Feliz for $24,500,000 to Angelina Jollie,
568 Tigertail in Brentwood for $23,000,000 to LeBron James,
1624 San Onofre Dr. in Palisades for $22,000,000 to Matt & Kathy Barrett,
1 West Century Dr. in Westwood for $20,000,000 to Matthew Perry Hancock 356 S. Hudson in Hancock Park sold for $12,412,000,

Christophe Choo Luxury Real Estate Series – Beverly Hills & Los Angeles http://www.ChristopheChoo.com