- Malibu Colony Beach remains the most expensive neighborhood in L.A. Region
- Beverly Hills Gateway takes second spot with $9.6 million median sale price
- 5 neighborhoods in the L.A. area posted medians above the $5 million mark
- Carbon Beach is the location of #1 most expensive home ever sold in L.A. Region
Featuring two of the 10 most expensive zip codes in the country and booming residential price growth, the top 20 most expensive neighborhoods in the L.A. area feature some of the highest median sale prices in the entire U.S. In fact, compared to the top 20 most expensive neighborhoods in NYC, the L.A. area’s top 20 feature median sale prices twice as expensive as their East Coast rivals.
Analyzing Los Angeles and nearby cities close to the waterfront like Malibu, Santa Monica and Manhattan Beach, we found that Malibu Colony Beach is the #1 most expensive neighborhood in the L.A. area, with a $10,650,000 median sale price – nearly 3 times higher than NYC’s #1 TriBeCa. Even Brentwood, which ranks as the 20th most expensive neighborhood, is more than twice as expensive as its NYC counterpart Chelsea.
Hover your cursor over each neighborhood boundary to explore the median home price recorded in the first half of 2018. You can also zoom in or out to better visualize small neighborhoods.
As for Malibu Colony Beach, it retained its #1 spot from a year ago, despite a nearly 11% drop in the median sale price. Of the eight transactions recorded here in Q1 and Q2 2018, five were above the $10 million threshold.
Among them was 25040 Pacific Coast Highway, a 15,000-square-foot modernist creation purchased by Canadian billionaire Daryl Katz in February. The pricey estate boasts a 168-foot swimming pool, the longest residential pool in California. Katz dropped $85 million on the Scott Mitchell-designed estate, making this the 8th most expensive home to ever sell in California.
The 2nd most expensive neighborhood in the L.A. area, Beverly Hills Gateway, climbed one spot compared to the first half of 2017, with the median sale price appreciating by nearly a quarter. Although Beverly Hills Gateway registered fewer transactions in the first half of 2018 than during the same period in 2017, sales this year were significantly pricier.
All in all, half of Beverly Hills Gateway’s 17 transactions surpassed the $10 million threshold, some by significant margins. Among those was 825 Loma Vista Drive, a 7-bed estate from 1933 which fetched $33.9 million, as well as the 7-bed Spanish Revival at 1270 Shadow Hill Way, which sold for $22 million. Beverly Hills Gateway also experienced the most significant median sale price appreciation among the L.A. area’s priciest neighborhoods.
Trousdale Estates ranked as the 3rd most expensive neighborhood in the L.A. area, slipping from its #2 spot last year due to a fall in its year-over-year median price of 5%. Only nine sales were closed here, with a median sale price of $8,535,000. Beverly Hills Flats took 4th place, posting a median of $7.45 million, just 0.2% lower than a year ago.
Overall, the L.A. area’s top 20 most expensive neighborhoods remained relatively stable compared to last year’s ranking, with only two significant upsets. Malibu’s Point Dume slid from #6 in 2017 to #17 due to a 26% year-over-year contraction with a median sale price of $2.75 million in the first half of 2018 – $1 million lower than the year-ago figure. Malibu’s Broad Beach experienced an even more pronounced contraction of $1.2 million. That 28% drop in its median sale price ranks Broad Beach as the neighborhood with sharpest price contraction among the area’s 20 most expensive.
Despite being home to the neighborhoods with the most significant price drops, Malibu became the uncontested leader of expensive neighborhoods in the L.A. area, grabbing 10 spots in our top 20. The City of Los Angeles ranked only four neighborhoods, while Santa Monica managed to keep one spot on the list with North of Montana at #7 thanks to a $3.9 million median sale price.
As far as the most expensive residential sale in L.A. County goes, Malibu’s Carbon Beach was the setting for that record-setting transaction. Located on aptly-named Billionaire’s Beach, 22258 – 22310 Pacific Coast Highway traded hands in April for a whopping $110 million, making this the most expensive home ever sold in L.A. County and the 2nd most expensive residential sale in California’s history. The 7-bed beachfront residence was picked up by energy magnate Michael S. Smith and wife Iris from Hard Rock Café co-founder Peter Morton.
|#||City||Neighborhood||Median Sale Price|
Q1 + Q2 2018
|1||Malibu||Malibu Road, Malibu Colony Beach||$10,650,000||-10.6%||8|
|2||Beverly Hills||Beverly Hills Gateway||$9,600,000||24.7%||17|
|3||Beverly Hills||Trousdale Estates||$8,535,000||-5.2%||9|
|4||Beverly Hills||Beverly Hills Flats||$7,450,000||-0.2%||24|
|7||Santa Monica||North of Montana||$3,888,000||10.8%||51|
|9||Manhattan Beach||Hill Section||$3,395,000||7.5%||19|
|11||Malibu||Las Flores Beach||$3,137,000||N/A||5|
|12||Los Angeles||Pacific Palisades||$3,045,000||11.3%||184|
|13||Los Angeles||Bel Air||$2,994,250||-0.2%||62|
|14||Manhattan Beach||Sand Section||$2,989,000||3.1%||61|
|16||Malibu||Big Rock Mesa||$2,800,000||0.2%||9|
|18||Los Angeles||Windsor Square||$2,400,000||8.1%||35|
|18||Manhattan Beach||Tree Section||$2,400,000||0.2%||65|
To determine the most expensive neighborhoods in the L.A. area, we looked at all residential transactions closed between January 1st, 2018 and June 30th, 2018, for single- and two-family houses. All package deals were excluded.
We defined the L.A. area as the City of Los Angeles, Malibu, Santa Monica, Topanga, El Segundo, Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, Palos Verdes Estates, Rancho Palos Verdes, Long Beach, Beverly Hills, West Hollywood, Culver City, Inglewood, Rolling Hills, Rolling Hills Estates, Lomita and Hawthorne.
Data on small neighborhoods has been incorporated into statistics for larger areas. As such, Malibu Road and Malibu Beach Colony are treated as one neighborhood, while Roxbury Park, Doheny South East, Doheny South West, Burton North, Burton South, Beverly Hills South East, Beverly Hills Heights, Golden Triangle and La Cienega Park were incorporated into South of Santa Monica Boulevard.