LA’s Signed Luxury Contracts Asking Volume Slips 44%

Maybe it was the heat wave.

Signed contracts last week in L.A. County fell 44 percent from a year ago to $86.7 million in asking volume, in what some in the industry are calling August’s typical summer cool down. Fourteen properties went into contract last week, which is four fewer than the comparable period in 2024, according to the Eklund Weekly Luxury Report Los Angeles.

The report is compiled by Marcy Roth of Douglas Elliman’s Eklund Gomes team and counts single-family homes and condominiums listed at $4 million or more in the Multiple Listing Service.

Roth called the week’s performance a “simple blip in the market,” that is historically seen with the back-to-school period.

“August is traditionally our slowest month of the year and has, previous to this week, been performing above expectations, so we see no cause for alarm in regards to a decline in the market,” Roth said.

Topping last week’s signed contracts was 130 South Cliffwood Avenue, which has a listing price just shy of $14 million.

Berkshire Hathaway HomeServices California Properties’ David Offer holds the listing on behalf of a family trust, according to property records.

The Brentwood residence has seven bedrooms and eight bathrooms, coming in at nearly 6,300 square feet and asking $2,232 per square foot. The lot is more than 20,000 square feet sitting behind gates with hedges for further privacy. Built in 1925, the New England traditional-style home recently received some touch-ups that included oak floors and interior paint.

Aside from the main residence, there’s a two-story guest house with a bedroom, kitchenette and two bathrooms. Outdoors has a pool and sprawling lawns.

The next priciest listing to go into contract last week was 1760 Carla Ridge in Beverly Hills, which is listed for $13.5 million, or $2,766 per square foot.

The Beverly Hills Estates’ Robby Sutton and Rayni Williams are the listing agents. Property records show a family trust is selling the home.

The Trousdale Estates residence has five bedrooms and five bathrooms across nearly 5,000 square feet. It offers big views of Century City, Downtown Los Angeles, the ocean and the Santa Monica Mountains.

The Mid-Century modern home was designed by Rex Lotery, the architect behind Elvis Presley’s Trousdale Estates home.