Pacific Palisades Home Priced at $13M Tops LA Contracts

Asking dollar volume of signed contracts in Los Angeles County continued its slide to mark the third-straight weekly decline.

Douglas Elliman’s Eklund Gomes team reported 19 contracts, equating to $109.7 million in asking dollar volume last week. The Eklund Weekly Luxury Report Los Angeles includes homes in the county listed at $4 million or more in the Multiple Listing Service.

Last week’s totals compare to the prior seven-day period’s 16 contracts, which amounted to $138.4 million in listing price volume.

At the top of last week’s deals is a Pacific Palisades property described in its listing as a “modern hacienda.”

The Palisades is now a market to “keep an eye on,” according to Eklund Gomes’ Marcy Roth, given the activity hitting the community post-fires.

A total of 29 lots were listed last week in the Palisades, with overall asking prices on for-sale parcels averaging $2.7 million, according to Roth.

The home at 724 Greentree Road has four bedrooms and four bathrooms across over 4,000 square feet. Separate wings within the home are broken out for a primary suite, children’s quarters, guest room and theater.

The Beverly Hills Estates’ Christopher Soffer, Trenton Armitage, Branden Williams and Rayni Williams hold the listing.

Property records indicate the sellers are Emile M. Gladstone and Elizabeth A. Petrazzolo.

The week’s second-largest home under contract based on list price was in Long Beach with an asking price of $8 million. The 1907-built property is located at 5809 East Corso Di Napoli and is known as the “Pink Palace” for its exterior color.

Vista Sotheby’s International Realty’s Keith Muirhead holds the listing.

A Long Beach-based limited liability company called DavMar Homes, based out of Long Beach, is the seller, according to property records.

The Mission Revival-style waterfront property looks out onto Alamitos Bay and has three water slips for vessel parking. Inside the over 4,000-square-foot home are five beds and four baths.