Sotheby’s International Realty’s Greater Los Angeles January 2016 Market Report reveals that Beverly Hills remained the local leader in the sale of homes for more than $3 million, while Santa Monica saw a drastic upswing in luxury home sales compared to the same period last year.
The entire Los Angeles market is getting stronger and we are seeing buyers gravitate toward communities like the Palisades and Santa Monica, which both offer a smaller-neighborhood feel adjacent to a bustling world-class city and incredible amenities,” said Frank Symons, executive vice president and chief operating officer of Sotheby’s Western Region. “Santa Monica Place and the forthcoming Palisades Village development have only increased buyer demand.
- There were 27 homes sold in Beverly Hills, a 23 percent increase over the 22 homes sold last year.
- Santa Monica sold 24 luxury homes, an 85 percent increase over the 13 sold last year.
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