A new FOX Business video report on the rising luxury real estate market in Southern California features The Agency’s newest residential development client, The Carlyle Residences.

The video, titled Sales of High-Priced Homes Leading Recovery, discusses the growing demand for multi-million dollar homes in Los Angeles, and how these high-end purchases are leading the US housing market recovery.

For the report, The Agency’s Kofi Natei Nartey gave FOX Business a tour of The Carlyle Residences, a 24-story luxury condominium building offering 78 distinctive homes along the Golden Mile of L.A.’s Wilshire Corridor.

Kofi states that he has received several offers from individuals residing in-state, out-of-state and overseas on the featured Carlyle residence, a luxurious 3,535-square foot 3 bedroom, 4.5 bathroom home with panoramic views to the Pacific Ocean and a private, direct elevator foyer. Building amenities include a heated swimming pool, gym, and wine cellar; the home goes for $4.7 million.

As Fox Business notes, The Agency Research and Planning Group tracks luxury home sales and recently reported that more than 900 luxury homes were sold in Los Angeles during the second quarter, marking the highest levels of sales in 8 years.

“It’s almost like the perfect storm,” Kofi said during the report. He notes that both interest rates and prices are historically low, which has piqued the interests of Silicon Valley executives, celebrities, and high-paid professional athletes.

Also featured in the report is a $16 million dollar Hermosa Beach home located on beachfront strand. Though the home is still being renovated, many buyers have put in offers.

To learn more about The Carlyle Residences, click here.

Watch the full FOX Business report above or here.