Three of the five priciest residential properties to sell in Los Angeles County last week were in Beverly Hills, including a $17 million home that took the top spot.
Combined, all five sales totaled $46.2 million, well above the amount recorded in recent weeks. Luxury buyers and sellers are beginning to return, as L.A. continues to open up for business.
But the pandemic has taken a toll, further cutting into overall residential sales, which had been declining even before the virus took hold.
Still, some of L.A.’s top agents think the months-long shutdown created pent-up demand for luxury properties, though not at the asking prices that sellers seek.
This list was compiled with data from Redfin and other sources for deals closing between June 16 and June 22.
9719 Heather Road | Beverly Hills | $17M
This 10,000-square-foot home has five bedrooms and eight bathrooms, and the property sits on four acres. The two-story home was built in 1991, but has been remodeled. The grounds include a tennis court and a backyard pool overlooking the L.A. basin. The sale figures out to $1,692 per square foot. The home last sold in 2015 for $9.5 million and has been on and off the market since. The asking price was $23 million as recently as December. Gary Gold of Hilton & Hyland and Rory Barish of Keller Williams Beverly Hills shared the listing. The buyer was represented by Connie Blackenship of Douglas Elliman.
713 N. Crescent Drive | Beverly Hills | $11M
This one-story home sits on nearly three quarters of an acre in the Beverly Hills Flats. The 4,300-square-foot house was built in 1922, and has four bedrooms and three-and-a-half bathrooms. The backyard includes a large brick patio, half basketball court and a swimming pool. The sale comes out to $2,559 per square foot. The home last sold in 2012 for $6.5 million and hit the market asking $14.5 million in August. The price was steadily cut to $13 million by late May. Jade Mills with Coldwell Banker had the listing. Alexa Kort with Rodeo Realty represented the buyer.
1040 Woodland Drive | Beverly Hills | $7M
This hillside home was built in 1961, and includes wood paneled walls, carpeting and a Zen garden. The home has three bedrooms, five bathrooms, and totals roughly 4,700 square feet. The small backyard includes a brick patio and a swimming pool. The buyer paid $1,508 per square foot. This was the first time the property changed hands since 1970, when it sold for $175,000 about $1.2 million in 2020 dollars. It hit the market in mid-May asking $7.5 million. Paul Lester, Aileen Comora, and Daniel Stevenson with the Agency had the listing, while Compass’ Max Nelson represented the buyer.
529 Paseo De La Playa | Redondo Beach | $5.7M
This four-bedroom, three-bathroom midcentury home sits on a bluff overlooking the Pacific Ocean. The home spans 3,180 square feet and includes a large living room with a central fireplace. The beach is accessible via a path winding down the bluff from the backyard. The sale figures out to $1,777 per square foot. The home hit the market just a week before selling, asking $5.8 million. It hadn’t been on the market since 1977, when it sold for $190,000. Hal Licht and Howard Wood of Vista Sotheby’s International split the listing. Marc De Longeville, also of Vista Sotheby’s, brought the buyer.
1145 Chautauqua Boulevard | Pacific Palisades | $5.5M
The only new construction home to sell at the top of the market last week is this three-story home near Will Rogers State Historic Park. The 5,525-square-foot home has six bedrooms and eight bathrooms. Amenities include a home theater, a central audio system and a deck in the master suite. The completed home hit the market in January, and the asking price in late May was $5.6 million. The sale comes out to $1,003 per square foot. David Kelmenson with Compass represented the seller, while Jacqueline Chernov, also of Compass, brought the buyer.