The Real Deal Los Angeles

Submarket Snapshot: Single-family homes in Bel Air and Holmby Hills

Homes sold for 11 percent less in 2015
By Hannah Miet | March 17, 2016 05:15PM

Credit: the Agency

Credit: the Agency

The average price of single-family residences in Bel Air and Holmby Hills decreased in 2015, down 11.1 percent from 2014, according to a report by the Agency. 

There were 141 home sales in 2015 for an average sale price of $4.6 million. The residences sold for an average of $1,006 a square foot, a 7.9 percent decrease from the previous year.

The median price, however, rose 16.2 percent to $2.4 million.

Homes sat on the market for an average of 115 days in 2015, a 16.1 percent drop in waiting time when compared with 2014.