LA’s Luxury Residences Remain Above $2,000 Per Square-Foot for November

LA’s high-end residential market maintains traction despite rising interest rates. Top locations for single-family homes continue to be Beverly Hills and Malibu, with top prices in the low eight-figure range. The most expensive sale was in Bel Air. The 7,500 square-foot compound sold for almost $20 million, more than $2,600 per square-foot.

LA’s luxury condo prices eased up in November with no sales over the $3 million threshold, while October had two and September had three. The distribution, however, was much broader. The top five sales were each in a different part of the region, from Malibu to Pasadena, highlighting the variety of locations for condos in the $2 million to $3 million range. The highest sale in November was a 1,490 square-foot condo in Malibu at almost $2.9 million, nearly $2,000 per square-foot.

Patrick McGregor

Patrick McGregor

Patrick McGregor is a senior writer covering the real estate industry and overall economic trends in the United States for several Yardi product publications. He also holds an MBA from Thunderbird School of Global Management. Patrick was previously a commercial real estate analyst at Yardi Matrix for five years. His work has appeared in the New York Times, Bisnow, GlobeSt, The Real Deal, Business Insider, The Denver Post, The Motley Fool, and more.