An article from today’s LA Times recapped high-end real estate sales in Los Angeles County for 2012. According to DataQuick, it appears that properties over $5 million have finally returned to pre-recession sales rates in the LA area, a promising sign for real estate markets across Southern California. At 296 sales over $5 million, twice as many properties sold in 2012 than 2009 in LA county. As a comparison, 52 properties sold in the Santa Barbara area for over $5 million in 2012.
Some of LA’s most notable 2012 sales include Ryan Seacrest’s purchase of Ellen DeGeneres’ Beverly Hills compound for $36.5 million, Jennifer Aniston’s $20.97 million purchase of a Midcentury modern Bel-Air estate, and Jane Fonda’s $8.5 million sale of her Hollywood Hills estate originally built for Ronald Reagan in 1942.