Statistics taken from the Multiple Listing Service (MLS):
Comparing the Number of Home Sales between 1-3 million in Los Angeles cities: Beverly Hills, Brentwood, Bel Air, Santa Monica, Pacific Palisades during jan-nov 22:
Sales of homes 1-3 million in 2007 in those cities= 682
Sales of homes 1-3 million in 2010 in those cities= 629
Sales of homes 1-3 million in 2008 in those cities= 464
Sales of homes 1-3 million in 2009 in those cities= 497
Current sales volume is almost as strong as the peak in 2007!
And Sales of homes 1-3 million from 2009 to 2010 shows a big increase!
Reasons For Jump In 2010 in Home Sales 1-3 Million:
Pent up demand from buyers
Sellers pricing homes more aggressively
Low rates & low home prices
In Los Angeles we have seen stablity in the housing market for months
Sales of homes in the high-end 3-10 million in Los Angeles cities: Beverly Hills, Brentwood, Bel Air, Santa Monica, Pacific Palisades are the following from jan-nov 22:
Number of sales Jan-Nov 22 2010 = 216
Number of sales Jan-Nov 22 2009 = 185
Number of sales Jan-Nov 22 2008 = 245
Number of sales Jan-Nov 22 2007 = 325
Comparing Number of sales in some Los Angeles areas in 2009 compared to 2010 from jan-nov 22nd according to the MLS.
Beverly Hills 2009 186 sales, 2010 244 sales
Santa Monica 2009 160 sales, 2010 219 sales
Bel Air 2009 88 sales, 2010 115 sales
Brentwood 2009 181 sales, 2010 192 sales