Los Angeles Condo Sales Up 22% in Second Quarter

The Los Angeles residential market saw mixed signals this week, with fewer luxury contracts and lower asking volume for single-family homes, but signs of a comeback in the condominium sphere.

Condo sales in Los Angeles have rebounded, according to research from the Compass Development Marketing Group, which shows increased sales volume quarter over quarter and year over year. 

Pulling data from more than 20 L.A. neighborhoods from Pacific Palisades all the way to downtown, the Compass team recorded a 22 percent jump in condo sales in the second quarter compared to the first, as well as an 8 percent increase in active listings. Looking at the second quarter of 2025 compared to this year, listings remained about the same while sales increased by over 4 percent. 

Leading the sales charge by number of deals was Westwood and Century City, which Compass’ research team grouped together. Of the 760 deals recorded in the second quarter across neighborhoods, there were 147 sales inked in Westwood/Century City with an average sale price of about $1.5 million, or $838 per square foot. 

In terms of pricing, Sunset Strip and Hollywood Hills West (also grouped together) far exceeded other markets with an average sale price of just shy of $3 million, or $1,899 per square foot, across 19 transactions. Condos in Downtown Los Angeles, Mid-City and Mid-Wilshire had the lowest average sale prices, ranging from about $590,900 to $670,100. 

Compass’ Helen Howe said the data “[erases] a brief pullback earlier in the year.” In the first quarter, there were 622 condo sales — the lowest of any quarter in years. Howe also pointed to condos at the Rosewood Residences Beverly Hills, Mandarin Oriental Beverly Hills and 8899 Beverly in West Hollywood as drivers for “trophy-level closings.”

Broader single-family slowdown

Traction for luxury single-family homes was quieter last week, according to a weekly report compiled by Marcy Roth of Douglas Elliman’s Eklund Gomes team — which rounds up the top contracts for single-family homes and condominiums listed for $4 million or more.

Roth recorded 14 luxury contracts inked last week with a total asking volume of $98.3 million. That’s compared to 23 contracts during the week prior totaling $150.3 million — plus, it’s a 25 percent drop in contract volume from the same week last year.

The priciest contract based on asking price was a Studio City new build listed for just under $14 million. The sale for the 6,500-square-foot, five-bedroom home at 3274 Oakdell Road in Fryman Canyon was still pending as of Friday. 

Standout sales, listings

Despite a cooler luxury week, there were still some big transactions. Former Los Angeles Dodgers owner Peter O’Malley sold his Malibu mansion for $55 million to a joint venture of brokers and an architect. 

The buyers — Kurt Rappaport of Westside Estate Agency, the Beverly Hills Estates’ Jack Harris and Michael Fahimian, and architect Scott Mitchell — plan to tear down the 1994-built Mediterranean-style estate and build a modern compound in its wake. The new home will be similar in size to the existing home at 27832 Pacific Coast Highway, which is 8,775 square feet and sits on a 2.3-acre lot. 

Over in Brentwood, there was a pricey close at 1204 Chickory Lane which traded for $29 million. Built by spec developer David Maman, the property was featured in a Super Bowl commercial earlier this year featuring Kendall Jenner. The estate was first listed for $38 million in August 2025 before taking a price cut to $35 million. 

In Orange County, a 14,400-square-foot Laguna Beach home hit the market for $112 million. The sellers — David Wilson, owner and CEO of Wilson Automotive Group, and his wife Holly — purchased the home in 2001 for $16 million. 

Livel Real Estate’s Meital Taub and Jill Lockhart hold the listing for the 1974-built, eight-bedroom mansion. If the oceanfront home sells for close to its asking price, it could set a new all-time price record for Orange County. An Emerald Bay home at 2585 Riviera Drive currently holds that record after its $110 million sale in June, The Real Deal previously reported.

Read more