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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
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.