Most Expensive Westside Neighborhoods

Last year was a good year for real estate across the nation, but it was exceptional for a large portion of the Westside. By the end of 2018, LA had become pricier than even NYC, with many Westside neighborhoods ranking in the top spots.

An Overview

Let’s get a quick overview of how the area did as a whole:

• LA had 16 of the most expensive neighborhoods
• Malibu had 14 of the priciest neighborhoods
• Santa Monica had 7 of the most expensive neighborhoods
• Beverly Hills had four pricey neighborhoods

And that is not all. The Pacific Palisades increased dramatically in the showing with the following:

• 189 sales
• 10% increase in median sale price

But that is just the tip of the iceberg in terms of a great real estate year for Westside neighborhoods.

Two Pricey Westside Neighborhoods in Malibu

Malibu Colony Beach/Malibu Road was the most expensive neighborhood in 2018. Even though it  dropped 11%, it did not lose its ranking from 2017. Why? Because the median home sale price was $10,650,000. That’s significantly higher than the area’s median price of just $705,000, which is up about $50,000 from last year. It’s also almost three times higher than the priciest NYC neighborhood of TriBeCa with a $3,850,000 median.

The high priced sales of this neighborhood helped it keep its top spot. For instance, one home owned by a Canadian billionaire brought in $85 million. In addition to being one of the most expensive homes ever sold in California, it also boasts the longest private residence swimming pool in the state.

Beverly Hill Gateway took the 2^nd spot in the list due to a median sale price increase of 31%. The median sale price was $10.05 million. The top sale was an almost $34 million mansion in March.

Two other Westside communities saw huge growth. Hollywood Hills had a 26% increase in median sale price to $1,610,000 and Brentwood saw a 24% increase to $2,276,000.

For more information about the market in different Westside neighborhoods, please give me a call. I’d love to talk about how these numbers will affect you whether you plan to buy or sell.