Los Angeles luxury condo market surges with record-breaking sales and soaring prices

Condo transactions in Los Angeles jumped 22% in Q2, with 760 closings and average prices near $1.35 million, while ultra-high-end units are fetching unprecedented sums.

According to data from Compass Market Development Group, Los Angeles luxury condos experienced a robust rebound in the second quarter, with sales rising 22.2% from the prior quarter and 760 transactions recorded, close to the historic average of 768. The average transaction value remains around $1.35 million, while the most exclusive neighborhoods—particularly Rosewood Residences, Mandarin Oriental, and 8899 Beverly—are seeing “trophy-level” closings that maintain premium pricing.

Helen Howe, managing director of the group, noted that discerning buyers continue to prioritize location, service, and lifestyle. A notable development is a half-finished penthouse at Aman Beverly Hills, reportedly slated to sell for $200 million, which would shatter the existing $39.2 million condo record set in 2025. The buyer’s identity remains undisclosed. This surge suggests a shift in Los Angeles’s luxury market, traditionally dominated by single-family homes, toward high-rise residential towers.