Los Angeles’ Signed Home Contracts Rise to $138 Million

Los Angeles County’s residential market showed signs of life in the first week of September.

Nineteen homes went into contract, which was good for a total asking volume of $137.5 million. That’s three more signed contracts and an 8.7 percent rise in volume from the year-ago comparison, according to the Eklund Weekly Luxury Report Los Angeles.

The report, compiled by Marcy Roth of Douglas Elliman’s Eklund Gomes team, counts homes listed in the Multiple Listing Service for $4 million or more.

Roth called last week’s activity a “good start” to the month when also factoring in the 92 listings added to the market’s inventory last week. Those new listings or re-listings reflect the biggest weekly jump since the first two weeks of July, as many sellers decided to recalibrate pricing and place their homes back on the market.

“Seller confidence in the overall market direction seems to be increasing after a slight six-week lull, with buyer activity maintaining at a relatively steady pace throughout the summer,” Roth said. “The fall season is going to be something to watch.”

Topping out the list of homes that went into contract last week was a Hancock Park residence at 100 South Hudson Place. The home is being marketed for nearly $17 million, or $1,712 per square foot.

It’s listed by Nicholas Property Group’s Dustin Nicholas and Sotheby’s International Realty’s Marc Noah.

The seller is a trust tied to inactive California attorney Samuel H. Gruenbaum, according to property records.

Known as the Griffith Estate for its former owner, Mary M. Griffith, the six-bedroom, 10-bathroom home sits above the Wilshire Country Club. It was built in 1929 in the Federal style, a design characterized by symmetry and Roman-inspired details. The home spans over 9,900 square feet and sits on about half an acre. The property also includes a detached guest house.

Last week’s next largest signed contract based on asking price was in Manhattan Beach along the oceanfront neighborhood known as The Strand. Located at 708 The Strand, the home is listed for just under $15 million, or $3,314 per square foot.

The seller is a trust tied to Leslie Garland and his late wife Elda Garland, according to property records.

Compass’ Trevi O’Neill and Nicholas Schneider hold the listing.

The four-bedroom, five-bathroom home spans over 4,500 square feet. Rising three stories, highlights of the property include a rooftop deck with a hot tub and garden, plus an elevator and sauna.