Bidding Wars Are Back for Los Angeles Luxury Homes

Investors help boost prices in chic Los Angeles neighborhoods
Houses: Bloomberg(2)

A week after Christine Lynch listed her five-bedroom, six-bathroom house in the Brentwood neighborhood of Los Angeles for $3.625 million, she had seven offers. Within 10 days, she had a deal—for $225,000 more than the asking price. The all-cash transaction was completed on April 23. “My first reaction was, ‘Wow, I guess we’re really doing this,’ ” says Lynch. “I was really surprised by this level of interest and how quickly it sold.”

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