Signed contracts slip for LA County luxury residential sales

A total of 18 deals went into contract in the week of June 10-16

Signed Contracts Dip for Los Angeles Luxury Homes Market
657 Perugia Way and 3216 The Strand (Getty, Google Maps)

Los Angeles County’s luxury homes market stumbled last week with buyers hitting pause on signed contracts.  

That’s the recap from Eklund-Gomes’ signed contracts report for June 10 to June 16. The weekly roundup culls data from the MLS, counting signed contracts for single-family homes and condos listed at $4 million or more.

Eighteen single-family contracts were signed last week in L.A. County, which was off 33 percent from the previous week.

Total contract volume for the same reporting period was $152 million, which is down from the prior week’s $185.5 million.

A Bel-Air mansion at 657 Perugia Way, with an asking price of just under $28 million, was last week’s top contract. The 1930s home was originally listed in January before re-appearing on the market for rent by Carolwood Estates’ David Parnes.  

The home totals 8,434 square feet with seven bedrooms and 10 baths, boasting views of the Bel-Air Country Club.

Sign Up for the undefined Newsletter

South of Bel-Air, a home in Manhattan Beach had last week’s next largest signed contract.

The 7,454-square-foot home at 3216 The Strand has a list price of $22.5 million and is currently under active contract. The home originally hit the market in February with an asking price of $25 million.

Pacifica Properties Group’s Christa Lyons and Matt Morris have the listing.

Deals in the South Bay city have been on a tear, as home prices jumped 21 percent last month compared to a year ago with median prices at $3.4 million, according to Redfin. More Manhattan Beach homes sold last month than the year-ago comparison, although median days on the market ticked up 17 to 51.

Eklund-Gomes rolled out its inaugural weekly luxury residential report for L.A. County last week, based on a Manhattan report produced by Olshan Realty.

Read more

Los Angeles
Eklund-Gomes LA report debuts with “House of the Moon” 
Los Angeles
Erewhon owners emerge as buyers of $23M Bel-Air mansion
$150M Listing Lifts Manhattan Beach to Top of Luxury Market
Los Angeles
$150M listing catapults Manhattan Beach to top of ultra luxe market
Recommended For You