It’s getting hot in the Hills.
The volume of home sales in Beverly Hills and Pacific Palisades shot up by 55 and 65 percent respectively in the last three months, according to a new report by Sotheby’s International Realty.
Meanwhile, the number of sales in Brentwood and in the Sunset Strip/ Hollywood Hills West regions actually dipped, by 21 and 8 percent.
“The entire Southern California luxury market is thriving and nowhere is that more true than Beverly Hills and the Palisades,” said Frank Symons, executive vice president and chief operating officer of Sotheby’s Western Region. “The current Southern California luxury market is in a position of strength as the spring home-buying season gets underway.”
More than 30 homes were sold in Beverly Hills between December and February, while 28 homes were sold in Pacific Palisades.
The Bel Air and Holmby Hills areas led the way in pricing for luxury homes over $3 million, with the average price for such a home coming in at a whopping $11.2 million. On its tail were Malibu and Beverly Hills, where the average prices were $9.13 million and $8.07 million, respectively. — Katherine Clarke