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The Real Deal Los Angeles

Submarket Snapshot: Homes in Brentwood in Q1 2016

Average price of luxury home dropped 40.2 percent from previous quarter

June 21, 2016 05:00PM
By Hannah Miet

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TV exec Fred Silverman and the Brentwood home he has listed at 1642 Mandeville Canyon Road (credit: Westside Estate Agency)

TV exec Fred Silverman and the Brentwood home he has listed at 1642 Mandeville Canyon Road (credit: Westside Estate Agency)

Brentwood’s luxury market took a dip in the first quarter.

There were 38 homes sold for more than $1 million, compared with 52 in the previous quarter, according to a report by the Agency.

The average price of these luxury residences dropped 40.2 percent to $2.8 million. The average per-square-foot price dropped 25.2 percent to $847.

Despite these major dips, sellers seem hopeful that high pricing will return. As of April, there were 88 properties listed for an an average price of $5.6 million, or $1,163 a square foot.

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