By Jay Valento
Today, I am going to share with you the real estate trends for Southern California Mansions May 2019 Sales Report. I carefully researched the details of the mansion sales year to date in sunny Southern California to give you some insights into the price and other important statistics.
I have many people searching for mansions with different amenities on my real estate website. Some people want a wine cellar while others crave the gorgeous ocean views.
Each visitor and the future client has their own desires for a home.
But one this is common among all clients, they want to know what is happening in the Southern California mansions marketplace. Are prices going down, or up or are they stable?
Is now a good time to buy? Will be a good value for my money to invest? To answer these questions and others, I created a video below to give you insights.
Summary of the Southern California Mansions May 2019 Sales Report
In this summary, I’m going to give you an in-depth view of pricing in May 2019 verse May 2018 so you can understand the overall real estate market for Southern California mansions. A mansion is a home with 8,000 or more square feet.
First, let’s compare three counties: Los Angeles, Orange, and Riverside
Southern California Mansions by County
|Pricing||Los Angeles County||Orange County||Riverside County|
|Average Selling Prices||$11,034,732||$9,373,343||$5,187,500|
|Number of Days on Market for a Mansion to Sell||111||179||110|
|Months of Inventory||22||23||29|
|Average Price per Square Foot||$1,050||$857||$542|
|Percentage of the Listed Price that the home sold for. (100% equals full price)||88.40%||86.00%||83.70%|
Where is your mansions sales data researched from?
I use our California Regional Multiple Listing Service (CRMLS) and public records to determine values. I don’t use online magazines like Zillow, Trulia or even Realtor.com to determine value. Real estate professionals and appraisers don’t go to those sites for market values and neither should you. They are just an estimate.
Video: Southern California Mansions May 2019 Sales
The video below covers Southern California mansions May 2019 sales. It goes into more details and compares cities like Los Angeles verse Beverly Hills verse Malibu verse Arcadia. It discusses trends in Newport Beach verse Newport Coast vs Laguna Beach. Take a few minutes to watch the video and learn. Subscribe to our Youtube channel as well.
How long is the video?
18 minutes. The more you learn about home pricing the better it comes to investing in a mansion or other property type in Southern California.
May 2019 Southern California Mansions Pricing by City[table id=199 /]
What are the Best Buys for Mansions in Southern California?
I really like this Temecula mansion in Riverside County at 23795 Serreno. It is a 7 bedroom plus single story home secluded from everyone and sitting on 9 acres. It has been on the market for 1,048 days. Why so long? That is a good question. But it could be the location. It is west of the 15 freeway as secluded as possible. I have a potential client for it too.
31265 Sierra Bonita Temecula. This is a 5 bedroom, 5 bathroom Temecula mansion with 8,491 square feet. It is one of the most popular mansions in Riverside County on my website this month.
What is the highest price mansion for sale?
594 S Mapleton Drive in Los Angeles has 14 bedrooms, 27 bathrooms and 56,000 square feet of living space. Imagine cleaning that house? It is currently listed for $160,000,000.
One of my favorite homes is 924 Bel Air Road in Los Angeles with 12 bedrooms, 21 bathrooms, and 38,000 square feet. Why do I like it? Well, it has a two-lane bowling alley inside and I hope to bowl against the future buyer of the home. Hopefully, my client.
3970 Victoria Lane in Westlake Village is an interesting home with 12 bedrooms, 33 bathrooms, and 50,255 square feet. It is located on 33 acres. Check it out.
What is the lowest priced mansion for sale?
Palm Desert wins the lowest priced mansion for sale in Southern California honors today. This Palm Desert mansion is located at 34750 Washington Street and offers you 5 bedrooms, 8 bathrooms and 9,144 square feet on 5 acres. Check it out and tell me what you think below.
Pricing Chart of Los Angeles County vs Orange County vs Riverside County for Mansions
Take a few minutes and explore all California mansions for sale on my real estate website in California. I look forward to helping you find a place to call home in 2019.