The Los Angeles luxury housing market is on fire right now. There’s a broad scope of buyers at every price point which is a dramatic shift from March and April. We are still dealing with Covid, Divisive politics and civil unrest in our nation but it’s a relief to report on some good news.
Great insights into the luxury Los Angeles market:
* There have been 280 closed sales of $5+ million so far in 2020 versus 298 at this time in 2019 ( Down 6%)
* Of these, 88 were $10+ million while there were 83 at this time last year. ( Up 6%).... and 21 were $20+ million this year compared to 23 at this time last year. (Down 11%).
* 10 of these sales were $30+ million for both 2020 and 20195 were $40+ million in 2020, versus 3 at this time in 2019, (Up 66%).
* There are 79 pending sales of $5+ million at the moment,
* 20 of these are $10+ million, 5 are $20+ million and 1 is $30+ million.
* Of the 21 sales of $20+ million buyers this year,18 are American, 2 Taiwanese and 1 Chinese, (86 % American).
* The areas of the 21 sales of $20+ million are: 5 in Beverly Hills, 5 in Bel Air, 1 in Holmby Hills and 2 each in Sunset Strip, BHPO, Brentwood, Palisades and Malibu.
* Of the 21 $20+ million dollar sales, 8 weren't officially listed when sold.