Last week witnessed a marked interest in beachside homes in Los Angeles, as outlined by the Eklund Weekly Luxury Report, which reported a decline in overall deal activity following the Memorial Day weekend. The report noted that only 20 homes went into contract, marking a 42 percent drop in dollar volume compared to the previous week. Highlighted in the report was a $13.5 million property in Venice, showcasing the current demand for coastal living despite the downturn in contract volume.
Last week's top contracts for Los Angeles show a trend toward beachside communities, with prices lower than usual for luxury homes as buyers seek coastal properties.
The Eklund Gomes weekly report illustrated a significant slowdown in deal activity post-Memorial Day, with a notable drop in total asking volume from the previous week.
The standout property was a $13.5 million multiproperty compound in Venice, highlighting the desirability of coastal living, featuring extensive amenities catering to luxury buyers.
With the top three deals in Venice, Manhattan Beach, and Hermosa Beach, it's clear that buyers are gravitating towards oceanfront properties despite the drop in overall sales.
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