LA Resi Signed Contracts Jump to $231M

Los Angeles County’s residential market perked up last week as buyers and sellers found ways to move forward on deals.

Countywide, 25 single-family homes and condos went into contract last week, which equated to $230.6 million in listing volume, according to Douglas Elliman’s Eklund Gomes team. That’s up about 44 percent in volume from the year-ago period, with the total number of contracts flat year-over-year.

The Eklund Weekly Luxury Report Los Angeles, which is compiled by Eklund Gomes’ Marcy Roth, counts only properties listed in the Multiple Listing Service with asking prices of $4 million or more.

A newly built Hidden Hills estate was L.A. County’s top home to land a buyer and go into contract last week based on its nearly $40 million asking price.

The listing price of the property, located at 24255 Bridle Trail Road, pencils out to $1,998 per square foot.

Douglas Elliman’s Marc Shevin and Hanna Shevin hold the listing.

The seller is a limited liability company, which property and state records show is managed by local real estate developer Tzvika Diner.

Listing sites show the property was placed on the market last September for the same asking price and was removed in early January, reappearing later that same month.

The last time the property traded was in 2021, when it sold for $18.2 million, according to listing sites.

The seven-bed, 11-bath home is just over 20,000 square feet and sits on a nearly three-acre lot.

Built in 2024, the property’s amenities include a refrigerated wine room, theater, sauna, massage room, pool, barbecue area, elevator and seven-car garage.

The Eklund Gomes team reported a condo at the Maybourne Beverly Hills Hotel as last week’s second largest property to go into contract, based on listing price. It was also the only condo to find a buyer last week.

The unit’s address is 225 North Canon Drive. It has an asking price of $28.8 million, or $5,080 per square foot, to live within Beverly Hills’ Golden Triangle district.

Ohana Realty Corp.’s Tyrone Phillips and Soren Olsen hold the listing on behalf of a trust tied to Paul Terasaki and Hisako Terasaki, property records show. The home last traded for $13.8 million in 2011, according to property records.

The unit appeared to go fast, entering the market Sept. 12 and going into contract five days later, according to listing sites.

The condo has four beds and six baths across 5,670 square feet. Highlights include 10-foot ceilings and a private balcony. Maybourne residents have access to two private elevators, gated and valet parking and around-the-clock security.