LA County Sees $265M in Signed Contracts Last Week

New signed contracts in Los Angeles County kicked up last week as the pace of single-family and condo deals ramped.

A total of 28 residential properties fell into contract last week, amounting to $265.4 million in asking volume, according to the Eklund Weekly Luxury Report Los Angeles. That’s an increase of 11 deals and 121 percent in asking volume compared to the year-ago period, according to the weekly roundup compiled by Marcy Roth of Douglas Elliman’s Eklund Gomes team.

The report includes only properties within the county listed for $4 million or more in the Multiple Listing Service.

At the top of last week’s signed contracts was 804 North Elm Drive in Beverly Hills, which is listed for $34.5 million, or $1,769 per square foot. That reflects a price cut from the nearly $40 million asking price the seller sought when the home first hit the market last June.

Trusts tied to Lee Samson and Heather Babber purchased the property for $12.8 million in 2016, according to PropertyShark records.

Coldwell Banker Realty’s Jade Mills, along with The Agency’s Mauricio Umansky and Heather Babber hold the listing.

The Italian-inspired home in the Beverly Hills Flats spans 19,474 square feet, with seven beds and 15 baths. Built in 2011, the property has a 1,000-gallon saltwater aquarium, theater, pergola and multiple outdoor entertainment areas.

The nearby Beverly Hills Post Office enclave, which is part of the City of Los Angeles, is where last week’s second-largest property to go into contract based on asking price is located.

The newly built home at 2535 Hutton Drive was completed last year and was first listed in October for $19.5 million, or $2,166 per square foot. Its most recent asking price was $18.5 million, or $2,054 per square foot.

Named the Hutton House, the original property was purchased in 2022 for $3 million and then built anew by Christian Toxboe, Daniel Green, Drew Jacobson and Adam Bachenheimer, according to property and state records.

The development team tapped Tim Bonefeld as architect and Blackbriar Construction to build the 9,000-square-foot home with six beds and 11 baths.

Jacobson and Bachenheimer of The Agency are also the listing agents.

The gated property touts an over 50-foot skylight on the upper floor, floating staircase, theater with tiered seating and pickleball court.