SUMMER 2025
As we wrap up an exciting second quarter, we’re filled with gratitude for our clients, partners, and community. Your continued trust and support fuel our commitment to excellence and motivate us to deliver thoughtful, data-driven insights into the luxury real estate market. This report highlights key trends from Q2 and the promising opportunities we see as we move into the second half of the year.
A Seminal Moment: The Sale of Monet’s Nymphéas and the Dawn of a New Era for Christie’s Hong Kong When Claude Monet first painted the luminous, fluid blossoms of his water lily pond in Giverny, he likely could not have imagined the global ripple effect his brushstrokes would one day create. More than a century later, one of the most transcendent iterations from his celebrated Nymphéas series, titled simply A Seminal Nymphéas, commanded the spotlight once more, this time not only for its artistic brilliance but as a pivotal moment in Christie’s evolving global footprint.
In spring 2024, this remarkable work, drawn from a Distinguished Private Collection and offered at auction by Christie’s, achieved a landmark result, reaffirming Monet’s position as a cornerstone of blue-chip collecting. The sale was more than a high-profile transaction; it was a cultural crescendo. It marked the culmination of Christie’s longstanding presence at Alexandra House in Hong Kong’s Central district and ushered in the next chapter of the auction house’s Asia-Pacific expansion.
An Iconic Work Reaches a Global Stage Nymphéas, a jewel in Monet’s late oeuvre, represents more than floral abstraction; it is an embodiment of peace, nature,
and the spiritual intimacy between artist and environment. This particular canvas, rich in pastel hues and iridescent brushwork, held a special distinction within the broader series, often described by scholars as “seminal” for its compositional boldness and emotional immediacy.
Collectors, institutions, and connoisseurs from around the world turned their gaze to Christie’s Hong Kong as the piece prepared to go under the hammer. The response was nothing short of electric. With competitive bidding spanning continents, the final sale price exceeded expectations, further cementing the enduring demand for Impressionist masterpieces, even in a time of shifting financial landscapes and geopolitical uncertainty.
More importantly, the timing of the sale coincided with another landmark moment: the opening of Christie’s brandnew Asia headquarters in The Henderson, a sustainable architectural marvel in the heart of Hong Kong’s Central district. Designed by Zaha Hadid Architects, the building represents the future of cross-cultural exchange, luxury commerce, and fine art in Asia. The relocation symbolizes more than a move; it is a strategic declaration that Asia is no longer a satellite of the global art market; it is a defining force within it.
It is an embodiment of peace, nature, and the spiritual intimacy between artist and environment.
A SEMINAL MOMENT
Christie’s and the Rise of the East Christie’s has long been a pioneer in recognizing the East’s rising appetite for fine art and luxury assets. From record-breaking wine sales to contemporary Chinese art, the auction house has continued to meet collectors where they are, both physically and philosophically. The opening of its new 50,000-square-foot space in The Henderson underscores a long-term commitment to serving the next generation of collectors, artists, and institutions across Asia-Pacific.
The Nymphéas sale, occurring at the nexus of the old and new locations, represented a perfect symbolic bridge. While it was technically sold at auction while Christie’s still
operated out of Alexandra House, the institutional energy had already begun shifting toward the new headquarters. That momentum was palpable, and the sale became a preview of the elevated global experience that The Henderson now delivers.
This move also reflects Christie’s broader digital and physical evolution. The auction house has made substantial investments in tech-forward experiences, immersive exhibitions, and omnichannel sales platforms, creating a more accessible and dynamic marketplace for both emerging and established buyers. The Hong Kong relocation serves as the spatial embodiment of this vision.
The sale of A Seminal Nymphéas is not just a chapter in art history; it’s a strategic bellwether. For collectors, it signals continued strength in Impressionist markets, particularly for works with exceptional provenance and artistic narrative. For institutions, it’s a reminder of the East’s growing dominance in luxury acquisition and art appreciation. And for Christie’s, it’s a landmark sale that bookends one era while boldly stepping into the next.
As The Henderson’s galleries now showcase the world’s rarest treasures, from watches and jewels to NFTs and master paintings, Christie’s has placed itself squarely at the crossroads of heritage and innovation. The auction house
isn’t just selling art. It’s shaping the next 250 years of cultural stewardship, where the value of a masterpiece is measured not just in millions, but in meaning.
The ripples of Monet’s lilies, once confined to a pond in rural France, have now reached every corner of the world, and in this case, they landed exactly where the future of the art world is heading: Hong Kong.
DOMESTIC ENDEAVORS
As uncertainty reshapes financial priorities, real estate endures as the cornerstone of wealth preservation.
As we move through 2025, the U.S. real estate investment landscape is being shaped by a complex interplay of macroeconomic shifts, regional policy changes, and evolving buyer psychology. While rising interest rates and inflationary pressures have tempered activity in some mainstream segments, the luxury sector continues to demonstrate remarkable agility, adapting swiftly and, in many cases, outperforming broader market expectations.
In Los Angeles, policy measures like the ULA transfer tax continue to recalibrate luxury market behavior. The early disruptions seen in 2024 have largely given way to a new rhythm, with sophisticated buyers showing renewed confidence in premier enclaves such as Brentwood Park, Beverly Hills Flats, and Malibu’s beachfront stretches. Privacy, architectural pedigree, and turnkey lifestyle offerings remain the top criteria, especially as buyers weigh long-term value over short-term volatility.
Manhattan’s ultra-prime market has entered 2025 with cautious optimism. Despite global economic uncertainties, luxury condos, full-floor residences, and trophy penthouses in neighborhoods like NoHo, the Upper West Side, and Central Park South are transacting at a healthy clip, driven by both domestic wealth and a revived wave of international capital. Buyers from the Gulf States, Europe, and parts of Asia are once again eyeing New York as a stable, culturally rich investment haven.
Meanwhile, Miami continues to write its own narrative, one of transformation and expansion. The city’s appeal as a low-tax, lifestyle-first destination is now compounded by its emergence as a serious player in finance and technology. This identity shift has pushed demand for waterfront properties and branded developments to unprecedented levels, especially in high-profile areas such as Indian Creek, Coconut Grove, and Edgewater. Many buyers are investing not only in homes but in a vision of Miami as a global capital of wealth and innovation.
What unites these regional narratives is a shared truth: the luxury buyer in 2025 is more discerning, more informed, and more strategic. Real estate remains a cornerstone of wealth preservation and lifestyle enhancement, especially when paired with strong fundamentals and long-term upside. As domestic markets continue to evolve, the most successful investments will be those aligned with this new era of intention.
DURKOVIC X CHRISTIE’S
OUR TRANSITION TO CIRE
LOS ANGELES MACRO
EAST SIDE MICRO
WEST SIDE MICRO
SAN GABRIEL VALLEY MACRO
PASADENA
SOUTH PASADENA
LA CANADA FLINTRIDGE
SAN MARINO
ALTADENA
ARCADIA
SAN FERNANDO VALLEY MACRO
STUDIO CITY
SHERMAN OAKS
TOLUCA LAKE
ENCINO
The Durkovic Group is proud to announce our transition to Christie’s International Real Estate of Southern California. As Christie’s Ambassador for the San Gabriel Valley and Director of Luxury Estates, we are excited to partner with a brand that reflects our own commitment to excellence in art, design, and architecture. Christie’s incomparable legacy in these fields perfectly complements our vision for delivering exceptional service and results to our clients.
AREAS OF INTEREST
Renowned for its cultural diversity, iconic landmarks, and vibrant entertainment industry, Los Angeles County encompasses a vast and varied landscape that includes sprawling urban centers, picturesque beaches, and rugged mountains. Home to the city of Los Angeles, the county serves as a global hub for entertainment, technology, and innovation. From the glamour of Hollywood to the laid-back vibes of beach communities like Santa Monica and Malibu, Los Angeles County offers a rich tapestry of experiences, attractions, and opportunities for residents and visitors alike.
WEST SIDE MICRO AREAS
PALISADES
BRENTWOOD
BEVERLY HILLS
BEVERLY HILLS POST OFFICE
HOLLYWOOD HILLS E
EAST SIDE MICRO AREAS
SUNSET
45
HOUSES SPENT A MEDIAN OF 45 DAYS ON MARKET FROM LIST TO CLOSE.
13695
13,695 NEW PROPERTIES WERE BROUGHT TO MARKET IN QUARTER 2.
3 7
MEDIAN LISTING PRICES WERE IMPROVED BY 3.7% IN QUARTER 2. .
The data below illustrates nine micro markets surveyed in the Los Angeles area for Q2, the previous quarter, and the previous year.
The San Gabriel Valley, nestled in eastern Los Angeles County, offers a luxurious blend of cultural richness, scenic beauty, and economic prosperity. With upscale communities like Pasadena and San Marino, boasting stately mansions and sprawling estates, the valley provides breathtaking views of the San Gabriel mountain range. Additionally, the region’s thriving economy, anchored by prestigious academic institutions like Caltech, ensures a high standard of living and abundant amenities for residents.
SAN GABRIEL MICRO AREAS
PASADENA
SOUTH PASADENA
LA CANADA FLINTRIDGE
SAN MARINO
ALTADENA
ARCADIA
HOUSES SPENT A MEDIAN OF 28 DAYS ON MARKET FROM LIST TO CLOSE.
THE MEDIAN PRICE OF HOMES ROSE 4.3% IN QUARTER 2. 28
300 4 3 .
300 NEW PROPERTIES WERE BROUGHT TO MARKET IN QUARTER 2.
TOTAL SAN GABRIEL SALES BY AREA
The data below illustrates six micro markets surveyed in the San Gabriel Valley for Q2, the previous quarter, and the previous year.
TRANSACTIONS
Renowned for its upscale neighborhoods like Encino, Sherman Oaks, and Studio City, the San Fernando Valley offers an exclusive enclave of lavish estates, opulent mansions, and sprawling gated compounds. With panoramic views of the surrounding mountains and easy access to premier shopping, dining, and entertainment destinations, the valley epitomizes refined living. Boasting a diverse range of architectural styles, from sleek modern designs to elegant Mediterranean villas, luxury properties in the San Fernando Valley cater to the most discerning tastes.
SAN FERNANDO MICRO AREAS
STUDIO CITY
SHERMAN OAKS
TOLUCA LAKE
ENCINO
31
HOUSES SPENT A MEDIAN OF 31 DAYS ON MARKET FROM LIST TO CLOSE.
650
650 NEW PROPERTIES WERE BROUGHT TO MARKET IN QUARTER 2.
2 4 .
THE MEDIAN PRICE OF HOMES NEGLIGIBLY LOWERED TO 2.4% IN QUARTER 2.
The data below illustrates four micro markets surveyed in the San Fernando Valley for Q2, the previous quarter, and the previous year.
TOTAL TRANSACTIONS
CLOSED FOR $2,995,000
Two stylish residences belonging to A-list stars landed on the market in Los Angeles this past week, including Christina Ricci’s Silver Lake retreat and Diane Keaton’s Pinterest-inspired abode over in Brentwood. If celeb-style privacy is what you are after, a modern pad with a citrus orchard in the less-well-known Montecito Heights neighborhood could spark interest. Co-listing agents Greg Holcomb of Carolwood Estates and Tim Durkovic of Christie’s International Real Estate Southern California hold the $2.99 million listing set on over an acre of land just 10 minutes from downtown L.A. and Pasadena.
Bordering 280 acres of protected parkland, the secluded Paige Street residence was designed and built by an artist and architect in 2004. Lush landscaping by Mark Rios creates a buffer between neighbors at the end of a private driveway where the abode’s boxy structure is accented by rolling hills and views of the San Gabriel Mountains.
A Modern Hilltop Home in L.A. With a Central Courtyard and Citrus Orchard Lists for $3 Million 4027 PAIGE ST
Right away, the home’s contemporary design captivates from the front yard. Pendant lighting pops against a sunny yellow hue on the facade, opposite lemon trees. The house’s focal point, a glass-walled courtyard, is seen through the front door, while the three-bedroom layout slowly unfolds once inside, revealing a host of skylights and polished concrete floors throughout.
Beyond the fireside living room, fire-engine red cabinetry highlights the modern appliances in the chef’s kitchen. A steel-top island anchors the space that includes a casual seating area and direct access to the Zen-like courtyard. Sun-kissed trees loom over the serene outdoor room that also has a birdbath and room for sculptural artworks. The primary suite with its Brutalist-inspired bathroom is another spot with direct access to the courtyard.
Built-in shelving and enough square footage for two or more desks make the dedicated office a work-from-home haven complemented by a view of the gardens. Out back, a lower section of the yard has ample patio space and a patch of lawn, while a backlit staircase leads to an upper terrace where you can babysit cocktails as the setting sun turns the sky fiery shades of orange and pink.
