SoCal Real Estate Sales Broke Records in 2021

By Grace Cassidy

Amid last year’s growth in real estate sales, marked by a pandemic-fueled surge in demand, sales prices in Southern California hit record highs in 2021—with Douglas Elliman agents participating in three top sales in Los Angeles.

According to the November Housing Supply Overview from the Greater San Diego Association of Realtors, the median sales price in San Diego increased nearly 17 percent, to $730,000, between December 2020 and November 2021. Forbes, which cited the report, further predicted that “Southern California’s luxury market appears well-positioned to continue to hit historic highs in the first quarter of 2022.”

Meanwhile, The New York Times reported that the average sale price in Montecito, near Santa Barbara, increased by 43 percent, to $6.46 million.

In Los Angeles, 2188 Mandeville Canyon Road sold for $65 million to a buyer repped by Elliman’s Altman Brothers team, which also led both sides of the $44-million sale of 1047 North Bundy Drive.

In Brentwood, Tracy Tutor brought the buyer to 12058 Rivers Road, which sold for $56.55 million.

And in Orange County, Seth Nelson and Ariana Gaffoglio of The Eklund | Gomes Team broke records in San Clemente for the highest recorded sale—$34 million for 4130 Calle Isabella.

Home values overall in California rose 20.3 percent between November 2020 and November 2021, according to data provided by Zillow. Northern California cities saw massive growth in home value, in particular, with the value of a single-family homes in Sacramento and Alameda County rising 22.3 percent and 24 percent, respectively, according to The Times.

Southern California remains an attractive market as more people continue to work remotely and seek greater access to the outdoors in mild year-round weather.

Exploring your next move in Southern California? View current listings from Douglas Elliman below:

5012 Carbon Beach Terrace, Malibu, CA | $47.5M

 

2576 Aberdeen Ave, Los Feliz, CA | $7,999,999

 

3240 Fryman Road, Studio City, CA | $7,995,000

 

32311 Paseo Candela, San Juan Capistrano, CA | $3,479,000
Its Time For Elliman

ELLIMAN INSIDER is published by Douglas Elliman Real Estate
© 2020 all rights reserved
Elliman Insider
Privacy | Terms

ELLIMAN INSIDER is published by Douglas Elliman Real Estate
© 2020 all rights reserved
Elliman Insider