The stars of Bravo’s popular “Million Dollar Listing L.A.” — Josh Altman and Matt Altman (Douglas Elliman Brokerage), Josh Flagg (Rodeo Realty),
James Harris and David Parnes (Bond Street Partners, The Agency) and Madison Hildebrand (Partners Trust, the Malibu Life) — just wrapped their ninth season at the end of 2016, and are pumped about the current hot market.
For Parnes and Harris, Bond Street Partners at The Agency, gross sales for 2016 were over $200 million, “and we’ve already done more than that in the first three months of 2017,” reports Parnes. The team, who also juggle their day jobs with starring roles in the 10th season — “it’s all about time management” — recently sold a $30 million Holmby Hills estate owned by Manny Mashouf, the founder of Bebe, to Danny Harris, the founder of Alo Yoga. “L.A. prices will definitely keep rising as it’s such good value compared with New York, London, Miami and Hong Kong,” says Harris. “And it’s not just residential. Commercial development is red-hot too.”
Flagg, estate homes director at Rodeo Realty, notes, “This is our highest quarter with a record sales amount of $120 million in three months.”
This year “looks like a return to a more traditional market and will be more balanced between buyers and sellers,” say the Altman brothers, the No. 1 Douglas Elliman team who’re coming off another record year. With recent Beverly Hills sales ranging from $10.5 million to $16.5 million, they expect the high-end market “to continue to be the go-to market for international and local investors to park their money and continue to invest in trophy properties.”
Malibu specialist Hildebrand sells more than just homes, he sells the lifestyle of the community. A recent deal was the sale of a $15.9 million beach-front gem.