For the 2nd month in a row the big story was a HUGE sale of an oceanfront property on Paseo De La Playa.  Last month it was a big sale at 511 Paseo De La Playa at $8,000,000 and this month it was a top sale of $17,500,000.  Here’s a quick rundown of the numbers and the market:

The median “list” price was $1,599,000 with the average sold price at $1,630,000 so homes continue to sell above the listing price in most cases. We normally talk about the average prices but the sale at 417 Paseo De La Playa skewed the numbers dramatically. So much for interest rates slowing the market.

The median price per foot was $1,092 and median days on market was a borderline ridiculous 15 days before going into escrow.

The top sale of the month by a LARGE margin was an oceanfront property consisting of 2 seperate homes at 421 and 417 Paseo De La Playa which closed at in impressive $17,500,000.

See how this compares to other months on our Hollywood Riviera real estate trends and statistics page.