Malibu Colony is L.A.’s most expensive neighborhood this year – by far
The data is in: Malibu Colony Beach is the priciest pocket in Los Angeles County, with a median sale price that dwarfs other affluent neighborhoods.
Over the first six months of 2017, homes in the oceanfront community adjacent to Malibu Lagoon State Beach had a median sale price of $15.725 million, based on seven transactions, according to PropertyShark.
The tony Trousdale Estates neighborhood of Beverly Hills grabbed the second spot with a median price of $8.5 million based on a dozen sales.
Rounding out the top 10: Malibu’s Cove Colony at $8 million; north of Sunset Boulevard in Beverly Hills at $7.7 million; the Beverly Hills flats at $7.5 million; Broad Beach at $7 million; north of Montana Avenue in Santa Monica at $4.5 million; Bradbury at $4.3 million; Point Dume at $3.9 million; and Malibu Park at $3.5 million.
The data, based on PropertyShark’s analysis of all residential transactions through the first six months of the year, ranks the 50 most expensive neighborhoods in the county.
Of the 10 most expensive neighborhoods, six are on or near the beach. Malibu and Beverly Hills combined accounted for 10 of the 20 most expensive neighborhoods on the list.
The city of Los Angeles failed to crack the top 10, but had 12 neighborhoods in the top 50, led by Brentwood at No. 14 and Pacific Palisades at No. 15.
Forty-eight of the 50 cities experienced year-over-year price gains, while Beverly Grove and Westwood saw median price drops of 6% and 9%, respectively.
Hollywood Hills West saw the most homes changing hands, with 194 transactions in the first six months of the year.
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