L
uxury home contracts in Los Angeles County are picking up pace as the holiday season fades and rebuilding efforts begin in fire-affected areas. The Eklund Weekly Luxury Report from Douglas Elliman's Eklund Gomes team recorded 26 new signed contracts last week, totaling $186.8 million in asking volume. This is a significant increase from the previous week's 11 contracts worth $72.2 million.

    The report tracks homes listed on the MLS at $4 million or more and notes that contract activity had a slow start to 2025 due to the holidays and recent wildfires. However, Eklund Gomes California Managing Director Marcy Roth reports an uptick in buyer and seller activity, with daily calls from individuals seeking guidance amidst chaotic times.

    Last week's largest contract was for three Brentwood lots priced at $35 million, featuring a main house, guest house, chapel, and potting shed. The second-largest contract was for a new build in Santa Monica, listed by Carolwood Estates' Bjorn Farrugia, with an asking price of $12.8 million.

    The average asking price for the 23 single-family homes that went into contract last week was $7.2 million, with properties spending an average of 63 days on the market. On the supply side, Eklund Gomes reported a significant increase in new listings, adding 168 single-family residential properties and 14 condos to L.A. County listings last week.