Updated 11:16 am: We shouldn't be surprised--that mindblowingly gorgeous Jones & Emmons house on North Foothill in Beverly Hills sold in about two seconds, received seven offers, and eventually went to the busiest mid-century collector in town, producer Michael LaFetra. We first saw the house back on March 8, the day after it was listed for $6.499 million; it sold 12 days later for $6.625 million, according to Redfin. The Hollywood Reporter says it's just one data point in a Westside residential resurgence--the seller's agent tells them "It's probably been four years since we've had seven offers on one property." Anecdotally, several agents said they saw unusually big business on the Westside last month, partially in response to lower asking prices (they were down 5% since last year). Non-anecdotally, Westside houses aren't lingering quite so long on the market lately--the median inventory age in February this year was 88 days, down from 115 the year before. UPDATE: Good timing; it looks like LaFetra has just sold his A. Quincy Jones-designed house in the Crestwood Hills section of Brentwood for $1.45 million.
· L.A. Real Estate Rebound! Wild Buying Spree Hits Westside [THR]
· Mid-Century Modern By Jones & Emmons in Beverly Hills [Curbed LA]