The second quarter is historically LA’s most active selling season, and this year was no exception. The market for luxury single family homes recorded substantial volume increases, and it is safe to say that the past three months culminate in the most active quarter of production on record. 1,093 homes valued greater than $1M traded hands within Compass’ universe of coverage, a 21.9% YoY increase from Q2-16. This increase was primarily driven by the following neighborhoods: Beverly Hills (up 48.5% YoY), Pasadena (up 35.0% YoY), and Silverlake-Echo Park (up 34.3% YoY). Average PPSF increased 3.9% YoY to $940/ SF, while average sale price increased 6.9% YoY to $3.08M. Median sale price rose 6.1% YoY to $2.10M, while average days on market increased 6.7% YoY to 66 days. Please note that all references to single family sales include only listings closed at $1M or above.