Moving to LA? Luxury Real Estate Market Update for Beverly Hills, Bel Air & the Westside of LA 2021.
Are you thinking of moving to LA? Watch our luxury real estate market update for Beverly Hills, Bel Air, Holmby Hills, the Sunset Strip, Holywood Hills, Beverly Hills Post Office, Brentwood, Santa Monica, Malibu & the Westside of LA as of December 15, 2021.
Los Angeles Westside, Market Update for December 2021
2021 review versus 2020
1,032 sales over $5 million this year compared to 636 in all of 2020
248 sales over $10 million compared to 219 in all of 2020
$40,000,000 + 14 in 2021 vs 6 in 2020 Up 135%
$30,000,000 + 29 in 2021 vs 16 in 2020 Up 81%
$20,000,000 + 92 in 2021 vs 49 in 2020 Up 88% All large lots
$10,000,000 + 341 in 2021 vs 181 in 2020 Up 88% 43 pending
$5,000,000 + 1,032 in 2021 vs 636 in 2020 Up 62% 128 pending
92 Sales over $20 million
37 of 65 were not listed on the market. 40%
70 Americans 76%
14 Foreign buyers:
Sales over $20 MILLION
17 Bel Air
12 Beverly Hills
5 Bel Air
6 Sunset Strip
6 Holmby hills
6 Pacific Palisades
1 Santa Monica
I thought you would find it interesting to hear about the highest sales of the year….First, the highest single-family home sale ever in California was at 27740 PCH in Malibu. The property was purchased for $41,000,000 in 2013, it was quietly marketed, but not listed when it sold for $177,000,000. The property is located in Paradise Cove, in Central Malibu, and includes several properties, the main residence is 11,810 sq ft on a 4.36 acre lot.
It’s interesting to note how the highest-priced sale for the past three years has continued to rise...In 2019, the highest sale was 875 Nimes road, for $150,000,00….The highest priced sale in 2020 was 1801 Angelo Drive, owned by David Geffen and sold to Jeff Bezos for $165,000,000, and for this year, 27740 PCH sold for $177,000,000. Maybe we will have a $200,000,000 sale in 2022
The second top sale this year was 27560 PCH in Malibu. It was listed for $125,000,000 and sold for $87,000,000. The home is a modest 3,827 sq ft on a 2.97 acre lot. he also owns the adjoining property at 27600 PCH, which he paid $100,000,000 for in 2019.
The top sales in the other areas are Palisades… 1601 San Onofre Dr. New construction by Artie Tavangarian The house is 20,000 sq ft on a .99 acre lot. It sold for $83,000,000 to an American buyer and was unlisted when sold.
Bel Air… 534 Barnaby, built by David Murdock Jr. It is 33,000 sq ft on a 1.06 Acre lot overlooking the Bel Air golf course. It was unlisted when sold.
Beverly Hills… 1011 N. Beverly Drive, the old Hearst estate, sold for $63,100,000. The property has been on and off the market for years, asking up to $250,000,000 at one time, but listed at $48,000,000 at the time of the auction. The 29,000 sq ft dated house is on a 3.53 acre lot.
Brentwood… 2188 Mandeville Canyon sold for $62,000,000. The house is 19.000 sq ft, new construction designed by architect, Noah Walker on a 3.93 acre lot. That was the highest price ever paid for a home in Brentwood.
Holmby Hills….1060 Brooklawn, owned by Barron Hilton until his death in 2019, sold for $61,500,000 The Paul Williams designed home is 15,011 sq ft on a 2.55 Acre lot.
BHPO… 67 Beverly Park Court was listed for $160,000,000 and sold at auction for $51,000,000. The home is 28,000 sq ft on a 12.5 Acre lot.
Santa Monica….609 East Channel Road sold for $48,000,000. The home is 14,000 sq ft on a 3.35 Acre lot.
Sunset Strip… 1415 Devlin Dr. sold for $28,500,000. The home is 12,000 sq ft on a 1.07 acre lot. It was unlisted when sold.
Christophe Choo Luxury Real Estate Series - Beverly Hills & Los Angeles https://www.ChristopheChoo.com