The November 2024 Zillow Home Value Index showcases a remarkable array of high-end properties in Los Angeles, Beverly Hills, and Malibu, with values ranging from $1.39 million to an impressive $9.99 million. The report highlights Beverly Hills Gateway’s leading position, reaching close to $10 million, with just eight neighborhoods surpassing the $3 million mark.
The distribution among various cities reveals intriguing trends, as Los Angeles accounts for 19 neighborhoods, Beverly Hills contributes 7, and Malibu rounds out the count with 4 locations. The growth rates present a fascinating narrative, showcasing Malibu at the forefront with an impressive average increase of 112.5% since 2015, trailed by Beverly Hills at 80.4% and Los Angeles at 74.5%.
Number 10 – Brentwood
Brentwood, a highly esteemed area in Los Angeles, has seen impressive expansion in its real estate sector. The region experienced a remarkable increase in values, climbing from $1,419,480 in 2015 to $2,009,403 in 2020, and ultimately hitting $2,697,961 in 2024, showcasing an impressive 90.1% growth since 2015.
Number 9 – Beverly Crest
Beverly Crest, located in the Santa Monica Mountains, has shown impressive increases in its property values. In this prestigious area, property values surged from $1,466,921 in 2015 to $2,192,080 in 2020, and further increased to $2,727,002 in 2024, reflecting a remarkable 85.9% appreciation over the years.
Number 8 – Trancas Canyon
Trancas Canyon, a beautiful spot in Malibu, has experienced remarkable growth in its real estate market. The coastal region has experienced a significant rise in property values, climbing from $1,298,482 in 2015 to $1,927,586 in 2020, and further escalating to $2,794,819 in 2024, reflecting an impressive 115.2% increase since 2015.
Number 7 – Roxbury Park
Roxbury Park, an esteemed area in Beverly Hills, continues to experience robust growth in its real estate market. The region experienced an increase in values from $1,666,055 in 2015 to $2,608,404 in 2020, ultimately reaching $2,929,890 in 2024, marking a 75.9% rise over the nine-year span.
Number 6 – Pacific Palisades
Pacific Palisades, situated between the Pacific Ocean and Santa Monica Mountains, has shown steady success in the high-end real estate market. The property values in this esteemed coastal area have seen a significant rise, climbing from $1,943,114 in 2015 to $2,742,014 in 2020, and further escalating to $3,485,831 in 2024, reflecting an impressive 79.4% growth since 2015.
Number 5 – Bel Air
Bel Air, a prestigious area in Los Angeles, continues to uphold its status as one of the top neighborhoods in the region. In this highly sought-after region, property values surged from $2,156,942 in 2015 to $3,052,605 in 2020, and further escalated to $3,822,315 by 2024, reflecting an impressive 77.2% increase throughout the years.
Number 4 – Malibu Park
Malibu Park, known for its breathtaking ocean vistas and seclusion, has seen remarkable increases in its real estate values. The area experienced a significant rise in prices, climbing from $1,948,099 in 2015 to $2,696,900 in 2020, and ultimately hitting $4,032,379 in 2024, marking an impressive 107.0% growth since 2015.
Number 3 – Point Dume
Point Dume, an exceptional spot on the Malibu peninsula, has shown remarkable growth in its property market. In this prestigious coastal area, property values surged from $1,919,413 in 2015 to $3,245,940 in 2020, ultimately climbing to $5,267,373 in 2024, reflecting an impressive 174.4% increase throughout the years.
Number 2 – The Flats
The Flats, a highly sought-after area in Beverly Hills, has experienced remarkable expansion in its high-end real estate sector. The value of homes in this esteemed region skyrocketed from $3,739,521 in 2015 to $8,127,876 in 2020, ultimately climbing to $8,992,693 in 2024, showcasing an impressive 140.5% increase since 2015.
Number 1 – Beverly Hills
Beverly Hills Gateway emerges as the priciest enclave in the greater Los Angeles area, showcasing unparalleled luxury in real estate valuations. The values of properties in this highly sought-after area have skyrocketed from $4,485,331 in 2015 to $9,125,073 in 2020, ultimately hitting an impressive $9,985,416 in 2024. This represents an extraordinary 122.6% increase since 2015, solidifying its status as the epitome of luxury real estate in Southern California.
Conclusion
The most significant price surges took place from 2015 to 2020, with a slowdown in growth observed from 2020 to 2024, yet Malibu continued to exhibit the most robust recent activity. Venice presents a curious situation with the least increase at 31.3%, even with its elevated starting value, whereas Encino exhibits impressive growth at 105% from a more modest baseline.
The market distinctly divides into three levels: ultra-luxury exceeding $8 million (Beverly Hills), premium level ranging from $3-5 million (Malibu and elite LA areas), and core luxury level between $1.4-3 million, which includes most neighborhoods.
