Submarket Snapshot: Single-family homes in the Sunset Strip area

Los Angeles /
Mar.March 03, 2016 05:00 PM

Single-family residence prices decreased in the fourth quarter in the ultra-luxury Sunset Strip area, according to a report by the Agency.

Homes sold for an average $2.4 million, a 19.4 percent decrease from almost $3 million in the same period a year earlier.

The median price decreased 16.3 percent to $1.9 million.

The average price per square foot decreased 6.3 percent to $840.

However, with prices lower, the area saw more sales. A whopping 93 residences traded hands in the fourth quarter, a 19.2 percent increase from the 78 that sold in the same period in 2014.

The homes also sat on the market for a shorter period of time. In the fourth quarter, they spent an average of 85 days on the market, down from the average of 101 days in the same period a year earlier.

 

Related Articles

arrow_forward_ios
Griffon Capital’s Ron Kramer buys Beverly Hills estate in off-market deal
Griffon Capital’s Ron Kramer buys Beverly Hills estate in off-market deal
Griffon Capital’s Ron Kramer buys Beverly Hills estate in off-market deal
Mohamed Hadid and 901 Strada Vecchia Rd (Getty, Realtor)
Hadid ordered to pay $3 million in damages over Strada Vecchia mansion
Hadid ordered to pay $3 million in damages over Strada Vecchia mansion
Mohamed Hadid and renderings of the project (Getty, Hilton & Hyland)
Embattled Hadid relists Beverly Hills site for $250M
Embattled Hadid relists Beverly Hills site for $250M
The Altana and Renaissance; Two buildings that the CSCD were involved with in the past year (Waterford, The Renaissance)
LA explores joining the state’s luxury-to-middle-income housing program
LA explores joining the state’s luxury-to-middle-income housing program
Sprout Social CEO Jordyn Howard with the property (Twitter via Howard, Douglas Friedman Courtesy of The Fridman Group)
Sprout Social’s Justyn Howard behind priciest mansion buy in Calabasas
Sprout Social’s Justyn Howard behind priciest mansion buy in Calabasas
Iconiq Capital founding partner pays $20M for Malibu pad
Iconiq Capital founding partner pays $20M for Malibu pad
Iconiq Capital founding partner pays $20M for Malibu pad
Chris Terrill with the property (Getty, Coldwell Banker Realty)
Former CEO of home repair advisory firm lists his under construction property for $34M
Former CEO of home repair advisory firm lists his under construction property for $34M
Compass' Morgan Trent and Aaron Kirman (Compass and Aaron Kirman)
Compass’ Aaron Kirman taps dedicated team for Orange County
Compass’ Aaron Kirman taps dedicated team for Orange County
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...