LA County Luxury Home Sales Slip Again

Signed contracts dragged last week in Los Angeles County as the holiday slowdown sets in.

A dozen homes went into contract last week, good for $76.5 million in asking volume. That’s off five contracts and nearly 40 percent in volume from a year ago, according to the Eklund Weekly Luxury Report Los Angeles. The report, compiled by Marcy Roth, counts properties listed publicly at $4 million or more.

On the supply side of the equation, active listings, 74 properties enter the market to bring the total to 1,331 homes available for sale.

“Smart sellers and buyers” are still active in the market, but most are now on the “sidelines, waiting for the holiday season to pass,” Roth noted.

Last week’s top home to go into contract, based on asking price, was 25430 Prado De Azul in Calabasas. It was placed on the market for just under $10 million in July before that was shaved to the last asking price of $9.9 million, or $1,577 per square foot.

The Agency’s Emil Hartoonian and Ellie Hartoonian hold the listing on behalf of seller Kevin Krivitsky, according to property records.

Krivitsky purchased the home in June of last year for $7.8 million, or $1,245 per square foot.

The five-bed, six-bath home spans 6,300 square feet and sits on nearly half an acre.

Among the highlights are floor-to-ceiling pocket doors leading to the backyard, a home theater, TVs inside and outside, infinity pool and outdoor dining.

Last week’s second-largest home to go into contract, based on listing price, was in the Beverly Hills Flats, at 634 North Sierra Drive. The last asking price was $9.5 million, or $2,168 per square foot.

Keller Williams Beverly Hills’ Gregg Silver and Dafna Milstein are the listing agents on the five-bed, five-bath property.

The seller is a trust with trustees that include Diane Bishop and Lauren Campbell, according to property records.

The 1952-built home is 4,400 square feet and sits on a 20,000-square-foot lot. It has a circular driveway with a detached three-car garage, according to the listing. It has a pool and built-in grill in the backyard.