Money for LA market’s luxury home contracts jumps to $140M

The asking dollar volume of luxury homes under contract in L.A. County perked up last week, reversing a previous trend of three consecutive weekly declines.

The number of signed contracts held about steady with previous weeks, coming in at 17 for the seven-day period ended Nov. 3, according to Douglas Elliman’s Eklund Gomes team’s weekly report. Those listings’ dollar volume totaled $140.3 million.

That compares to the 16 signed contracts, equating to $102.3 million in asking dollar volume for the week ended Oct. 27, the Eklund Weekly Luxury Report LA said. The roundup counts signed contracts in the county for homes listed at $4 million or more in the MLS.

“Once again, we get to see why uncertainty is the only thing certain in the L.A. real estate market,” Eklund Gomes California Managing Director Marcy Roth said in recapping last week.

Topping last week’s homes under contract is the eight-bed, 15-bath estate at 1940 Bel Air Road. The 17,013-square-foot mansion is listed at just under $23 million.

The seller is reportedly Donald Meij, the former CEO of Australia-based Domino’s Pizza Enterprises. The company is the master franchisee for the pizza chain in Australia, New Zealand, Belgium and France among other overseas markets. 

Hilton & Hyland’s David Kramer and Roya Sklar have the listing.

The home last sold in 2021 for $20.9 million, property records show. It was placed on the market in July last year for just under $30 million, according to Zillow.

The estate sits on more than half an acre with views of Stone Canyon Reservoir in the Santa Monica Mountains, a pool, patio and gardens.

Last week’s second-largest home under contract wasn’t far off in price from the Bel-Air manse.

Located at 31030 Broad Beach Road in Malibu, the home is listed at $21.5 million. Eklund Gomes’ Roth pointed out the Malibu property’s price per square foot of $4,386 was more than three times that of the Bel-Air home in the No. 1 spot. That difference in price per square foot was “driven no doubt by its prime location” on Broad Beach, Roth said of the Malibu mansion.

The seller is an LLC managed by Elijah Myers, the co-founder of casual men’s and women’s apparel brand Sol Angeles.

Coldwell Banker Realty’s Megan Mondavi Whitcomb and Susan Monus have the listing.

The home was first placed on the market in March last year for $24.5 million.

It spans 4,902 square feet with four beds and five baths. The beach home sits on about a third of an acre and has ocean views, a wine cellar and guest suite above the garage.

Read more

• Bel-Air home with private vineyard tops LA County contracts
• Bel-Air home on Bentley Avenue leads LA luxury market’s $121M week
• Malibu manse near beach claims top spot on LA luxe contracts list

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