Submarket Snapshot: Ultra-luxury homes in Bel Air and Holmby Hills

Melvin and Bren Simon and their Bel Air estate at 10664 Bellagio Road, which recently sold for $35M
Melvin and Bren Simon and their Bel Air estate at 10664 Bellagio Road, which recently sold for $35M

Uber-luxury home sales volume is down in Bel Air and Holmby Hills.

There were 12 homes sold for more than $3 million in the submarket from March to May of this year, according to a report by Sotheby’s International Realty. The sales volume took a 29 percent dip when compared with the same period last year.

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The homes sold for an average of $7.9 million down from $12 million in the same months a year ago.