What was the Real Record Sale Price for Los Angeles in 2009?

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Real Estate Agent with COMPASS DRE# 01339266

What was the Real Record High Sale Price for Los Angeles in 2009?

The Associated Press reported today that "Sales of million-dollar homes in California fell 24  percent in 2009, the fourth straight annual decline and the lowest total in seven years."

The article stated that the most expensive California home sold last year was a 23,000 sq ft mansion in the Bel Air area of Los Angeles. (This was actually a spec project.)

I double checked the records and found this to be incorrect .....

The most expensive home sold was in fact a 27,000 sq ft mansion on Beverly Park Circle in Beverly Hills, 90210.

The 10-Bed 14-Bath property sold for $31.5 Million, well below the original List Price of $45 Million.

To keep these "Record Prices" in perspective, I double checked to see what the Highest Sales Price was in 2008 .....

It was $36.7 Million for a 9-Bed 18-Bath 27,000 sq ft home, also on Beverly Park Circle in Beverly Hills, 90210

Information obtained from The MLS is deemed reliable but not guaranteed. Photos courtesy of The CLAW MLS.

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Tags:
bel air
los angeles homes
penn properties
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Rainmaker
571,818
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Stew,  Interesting take on your market.  Hope you got a couple for yourself !

Feb 04, 2010 08:04 AM #1
Rainmaker
493,610
COMPASS PALM SPRINGS | Stewart Penn
COMPASS - Palm Springs, CA
COMPASS Palm Springs - Broker Associate

Bill - So do I, so do I :)

Feb 04, 2010 08:10 AM #2
Rainmaker
300,475
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

Wow that home is absolutely amazing. The most expensive home in the US was in NYC. I want to know what all these people do that spend $30+ million on a house. 

Feb 04, 2010 01:00 PM #3
Rainmaker
564,591
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Steward, So the property taxes are only $26,000 per month. That's not so bad if you pay cash for the home. lol

Steve

Feb 04, 2010 02:37 PM #4
Ambassador
997,247
Steve Shatsky
Dallas, TX

Hi Stewart... I am not sure whether I should be motivated to sell up in price point by that sale price or depressed that my average sale price was so far below that!

Feb 04, 2010 03:04 PM #5
Rainmaker
418,982
Stephen Arnold
HomeSmart Elite Group - Scottsdale, AZ
CRS, GRI, SFR

Stewart~  WOW!! Is all I have to say on this one!!  I wonder how someone breaks into that market! :0  Thanks for sharing!

Feb 04, 2010 03:39 PM #6
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Rainmaker
493,610

COMPASS PALM SPRINGS | Stewart Penn

COMPASS Palm Springs - Broker Associate
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