Sunset Strip - Hollywood Hills West Luxury Homes Selling for $690/sq ft - Feathered Nests in Bird Streets Command Top Dollar
What's been happening in the high-end home market in the Hollywood Hills during the past few months? Properties of all prices have been selling, and some big-ticket homes that had been marketed for some time finally reached their clearing price. Average is $690/sq ft for those sales above $1.5 million.
The biggest sale was 9444 Sierra Mar Place. This home has 3 bedrooms, 5 baths and 5,913 sq ft of living area. Originally listed at $7.9 million, it closed 668 days later at $5.4 millionn, 32% off its original list price. Located in the desirable Bird Streets area.
A little further east, in the Sunset Plaza neighborhood, 1305 Collingwood Place sold for $4.95 million. This home has 5 bedrooms, 4.5 baths and 4,586 sq ft of living area. The house was marketed for 228 days and sold at a 29% discount from its original list price of $6.95 million.
But don't conclude that the market is subject to a 30% discount. 1400 N Doheny Drive (also in the Bird Streets) with 4 bedrooms and 5 baths, sold for $4.08 million, $30K above its asking price, after a brief 24 days on the market.
1232 Sunset Plaza Drive in lower Sunset Plaza sold at a 25% discount to its original $5.0 million asking price, closing at $3.775 million. This home has 8 bedrooms, 9.5 baths and is a development opportunity set on more than one acre.
2366 Astral Drive, with 4 bedrooms, 4.5 baths, 3,400 sq ft of living area on a 13,464 sq fot lot, sold for $2.765 million, just below its $2.90 million asking price, after 58 days on the market.
Finally, anyone doubting the exuberance of the market should look no further than 1117 Sierra Alta Way. This home in the Bird Streets has 3,352 sq ft of living area and a 10,890 sq ft lot, and was listed at $1.495 million. Sound like a deal? Apparently, the buyer felt so. They were in contract 4 days after the house came on the market and paid $1.75 million, 17% over the asking price.