"Market watchers may be hoping Los Angeles got the last of its summer hangover out of its system as families return from overseas vacations and kids trek back to the classroom. The total value of homes that went into contract last week in L.A. County's high end slid 48.2 percent from a year earlier, with asking volume coming out to $126.2 million, according to a report compiled by Marcy Roth of Douglas Elliman's Eklund Gomes team."
"That contract follows last week's priciest 2025 residential sale in the Palisades, with the trade of the historic Parry Residence for $22.1 million or $2,635 per square foot. The Monterey Revival-style estate at 14924 Camarosa Drive was commissioned for Agnes S. Parry in 1929 and was featured in Architectural Digest a year after it was built. A local buyer purchased the Parry Residence in conjunction with the property behind it, at 14929 La Cumbre Drive for $5.3 million, or $1,813 per square foot."
"The Corsica Drive mansion now in contract is located in the Palisades' Riviera neighborhood and was built in 2023. It sits on about a third of an acre and has five beds and six baths across 6,000 square feet. The home's interiors include custom wallpapers, a steam shower and heated floors in the primary suite, outdoor entertaining areas and smart home security and lighting controls."
High-end home contract value in Los Angeles County fell 48.2% year-over-year to $126.2 million last week, across 19 signed contracts. New inventory added 47 properties, bringing active listings to 1,369 homes. The weekly count includes active Multiple Listing Service contracts with asking prices of $4 million or more. Pacific Palisades saw the top contract at 1057 Corsica Drive, listed near $14 million. The historic Parry Residence sold for $22.1 million, and a neighboring property sold for $5.3 million. The Corsica Drive mansion, built in 2023, has five bedrooms, six baths, about 6,000 square feet, and luxury interior features.
Read at therealdeal.com
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