realestate

LA Luxury Home Sales Contracts Plummet Post-Holiday Season

Luxury home sales in LA County slip to 9 contracts, sparking concerns about market stability post-Thanksgiving.

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uxury home sales in L.A. County took a dip last week, with nine signed contracts totaling $52.4 million in asking dollar volume, according to the Eklund Weekly Luxury Report Los Angeles. This decrease may be a delayed reaction to the Thanksgiving holiday, raising questions about whether the market will continue to slow or experience a pre-Christmas surge.

    The top home under contract last week was the Jerry Moss Estate in Bel-Air, although it's not included in the report's totals due to its quick sale. The estate, located at 362 Copa De Oro Road, boasts six bedrooms and nine bathrooms across 11,664 square feet. Originally listed with a neighboring property for $53 million, the two lots were later separated and sold individually.

    Not counting the Copa De Oro deal, 17335 Tramonto Drive in Pacific Palisades was last week's top home under contract, priced at $10.2 million. This estate features over 7,300 square feet with five bedrooms and seven bathrooms on a 20,000-square-foot lot, including a rooftop infinity pool and deck.

    The Eklund Gomes team tallied the contracts, which were listed at $4 million or more in the MLS system. Last week's numbers are down from the prior week's 15 contracts worth $157.4 million in asking dollar volume.

LA luxury home sales drop sharply after holidays, impacting real estate market.