The Prosperity Report - Vol 2

Page 40

I N S I G H T I N T O T H E U LT R A - L U X U R Y R E A L E S T A T E M A R K E T

CALIFORNIA MARKET REPORT

BESPOKE LUXURY MAGAZINE

387

TOTA L $ 1 0 M + S A L E S 2019 - 2020

110 SALES IN 2019

In California, nearly half of all $10M+ trades in 2020 were concentrated in one county: Los Angeles.

277 SALES IN 2020 ↑151.8%

In 2020, California proved itself as the market with the most growth for $10 million+ properties in the United States, with a 151% sales quantity increase, from 110 in 2019 to 277 in 2020. Even before the pandemic, the number of prospective buyers

40

in California outnumbered the number of properties available. With the rush of people out of New York City who worked equally between the city and Los Angeles, many found hardly a better time to permanently shift to L.A.—with better weather and more space than New York—than in the last year.