Sotheby's International Realty recently released its July 2015 Greater Los Angeles Market Update that revealed Santa Monica, up 107 percent from 2014, had the highest single-family home sales increase in the luxury sector ($3M and higher) in 2015 across the leading 33 markets. The report also showed that despite being down six percent from 2014, Pacific Palisades remained the top market for the most single-family luxury home sales in 2015.
"Santa Monica has received great interest during the summer months from our clients with its relaxing beach culture as well as the expansion of the Metro line, making it even more accessible from anywhere in the city," said Frank Symons, executive vice president and chief operating officer of Sotheby's International Realty's Western Region. "All of this factored into the curb appeal of the Santa Monica market."
A four bedrooms, three full bath and two partial bath home of 4,829 square foot home in Santa Monica is listed at $6,250,000.
According to Sotheby's, the top five Greater Los Angeles Markets with the most luxury homes sold from May-July 2015 are Pacific Palisades 45, Beverly Hills 38, Santa Monica 31, Brentwood 28 and Beverly Hills Post Office 21.
The top five Greater Los Angeles markets with the highest average selling price of single-family luxury homes from May through July 2015 are: Bel Air - Holmby Hills $8,563,649, Beverly Hills $7,774,805, Sunset Strip - Hollywood Hills $7,750,258, Malibu Beach $7,704,500 and Beverly Hills Post Office $6,381,983.
