LA Luxe Home Contracts Jump to $158M as Fall Season Ramps Up

If last week was any indication, it will be a busy fall for Los Angeles County’s luxury market.

Signed contracts for the week ended Sept. 22 spiked nearly 42 percent from the prior seven-day period to $157.5 million in volume, according to the Eklund Weekly Luxury Report LA.

Douglas Elliman’s Eklund Gomes team counted 24 new contracts last week based on data pulled from the MLS of homes in L.A. County listed at more than $4 million. That compares with 14 contracts signed in the prior reporting period.

Last week’s single-family home contracts were led by the five-bed, eight-bath home at 606 North Rexford Drive in the Beverly Hills Flats neighborhood. It has an asking price of $15.8 million.

The 7,602-square-foot, newly developed property boasts smart home technology, a gated entry, a chef’s prep kitchen, pool and pool house.

The owner is a South Gate-registered LLC, according to property and state records.

The Beverly Hills Estates’ Rayni Williams, Branden Williams, Victoria Risko and Jennifer Puz have the listing.

Overall, in Los Angeles County, the 23 single-family homes that went under contract last week averaged $1,325 per square foot, according to the Eklund report. That compares with $1,273 per square foot in the prior reporting period.

One townhome contract for a Santa Monica property was inked last week, breaking a two-week streak of no activity in the county’s condo and townhouse segment.

Unit one at 10 Ocean Park Boulevard is listed at just under $6 million by Douglas Elliman’s David Solomon and Anna Solomon.

Property records show the seller is a trust tied to Lithia Motors Chairman Sidney DeBoer. Lithia owns dealerships in L.A. County, most famously the Keyes Auto Group franchises in Van Nuys and Mission Hills.

The Ocean Park townhome originally hit the market in May with a $6.7 million ask.

A floating staircase connects the 3,846-square-foot home’s two floors. It features four beds and five baths, ocean views, an elevator and a two-car garage.