Pacific Palisades more than doubled the number of luxury homes sold in the last quarter of 2015 versus the same period of 2014, according to the latest Sotheby’s International Realty Greater Los Angeles Market Report.
From October to December 2015, 28 homes sold in the Palisades for more than $3 million, which was a 133 percent increase over the 12 homes sold during the same period in 2014.
The other big mover was the Beverly Hills Post Office submarket, which sold 19 $3 million+ homes, four more than last year. Brentwood (24 homes), Beverly Hills (21) and Sunset Strip (21) also made the top five with relatively consistent year-over-year totals.
“The continuing Rick Caruso redevelopment plan for Palisades Village, coupled with many single-family home investors flowing into the market, has made Pacific Palisades one of the most consistent luxury markets throughout 2015 with steadily increasing sales volume and prices,” said Frank Symons, executive vice president and chief operating officer of Sotheby’s International Realty – Western Region.
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