LA Luxury Real Estate: 2012 vs. 2013

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2012 Vs. 2013: Los Angeles Luxury Homes Sold Over $3,000,000 

LA Luxury Real Estate reports on the key market data indicators for luxury Los Angeles homes for sale closed in the year of 2012 versus luxury Los Angeles homes sold in the year of 2013. These reports included the areas of Malibu, Venice Beach, Marina Del Rey, Manhattan Beach, Beverly Hills, Brentwood, Bel Air, Hollywood Hills, Santa Monica and Pacific Palisades. 


LA Luxury Real Estate pulled all data regarding the number of closed luxury Los Angeles houses for sale, average days on the market (DOM) and the median price achieved for the luxury Los Angeles homes for sale in the two different time periods with data pulled from the Multiple Listing Service (MLS).


Number of Los Angeles luxury homes for sale closed over $3,000,000 in 2012: 400

Number of Los Angeles luxury homes for sale closed over $3,000,000 in 2013: 414


These statistics represent an increase of 3.5% in the number of luxury Los Angeles homes sold over $3,000,000 in 2012 versus the number of luxury Los Angeles homes sold over $3,000,000 in 2013. This also represents a slight increase in demand of luxury houses in the Los Angeles area during the year of 2013, compared to that of 2012. 


Average Days on the Market (DOM) for a luxury Los Angeles home sold over $3,000,000 in the year of 2012: 123 Days on the Market.

Average Days on the Market (DOM) for a luxury Los Angeles home sold over $3,000,000 in the year of 2013: 111 Days on the Market.


This represents a statistical decrease of 11% in the number of days it took for a luxury Los Angeles home sale over $3,000,000 to close in the year of 2013, versus those that closed in the year of 2012.  These statistics also represent an increase in demand in the market for luxury Los Angeles homes over the price of $3,000,000.


Median price for a luxury Los Angeles home sold over $3,000,000 in the year of 2012: $4,547,000

Median price for a Los Angeles home sold over $3,000,000 in the year of 2013: $4,662,500

In comparison to the year of 2012, 2013 had a slightly higher median selling price with an increase of 2.5% for a luxury Los Angeles home sold over $3,000,000. This represents a slight increase in the demand for a more expensive luxury home in Los Angeles to be bought, with homes being sold at higher prices in 2013, as compared to 2012. 


Currently, there are 288 luxury homes in Los Angeles actively for sale with a listing price over $3,000,000.


All the market data pulled from the MLS researched by Los Angeles Luxury Real Estate shows a slight increase in the demand in the luxury Los Angeles real estate market, in combination with a limited supply. All the market data pulled from the MLS researched by Los Angeles Luxury Real Estate shows a reasonable increase of demand for a luxury Los Angeles home over $3,000,000. This is a great market indicator the real estate market is becoming stronger, as more luxury homes are being sold, and the increase of demand for luxury homes.


For questions about buying or selling a luxury Los Angeles home, please contact the broker of Los Angeles Luxury Real Estate, Mitch Hagerman at 310-963-4358 and visit our website at www.LALuxuryRealEstate.com Los Angeles Luxury Real Estate reports on the key market data indicators for luxury Los Angeles homes for sale closed in the year of 2012 versus luxury Los Angeles homes sold in the year of 2013.  



Best Regards,

Mitch Hagerman
Associate Broker
DRE#01897348
posted: February 5, 2014 - Los Angeles Luxury Real Estate - Blog
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