The Real Estate Market is Booming and We’re Making Waves - Get The Scoop in The Agency Report Q1 2018
Posted on 4 May
2018 has gotten off to a roaring start. Prices for both single-family homes and condominiums in L.A.’s prime neighborhoods increased in the first quarter. There was a more than 13% increase in the average sale price for single-family homes in Bel Air and Holmby Hills compared to Q1 of last year, along with an impressive 10.6% increase in the average condominium sale price in Malibu. Meanwhile, in L.A.’s prime markets over $1,000,000, the average number of days on market before a listing went under contract decreased by 14.9%.
As strong demand continued to drive the market, our agents were able to secure great prices for sellers and find the best opportunities for buyers—and The Agency was busier than ever. From opening our new Malibu office, sponsoring El Paseo Fashion Week and the 2018 Genesis Open to ranking among the best in the industry by Variety, Los Angeles Business Journal and more, it’s safe to say 2018 is going to be one for the books.
For the complete rundown of Q1, click here.