CALABASAS, CA – A $ 30 million home sale this month broke previous records in Calabasas and the surrounding San Fernando Valley. The sale comes shortly after the Southland Regional Association of Realtors reported that average home prices in the valley hit a record high in May, up 26 percent.
The cost of living in the San Fernando Valley has increased over the past year. In April, the average retail price to buy a single family home was $ 935,000. In May, the average retail price reached $ 945,000. Given these numbers, the Southland Regional Association of Realtors reported that buyers would have to make at least $ 178,187 annually to buy an average home in the valley.
This huge property has plenty of outdoor space with views of Malibu Canyon (Redfin)
Granted, the recently sold $ 30 million property isn’t your “average” valley home. The approximately 22,000 square meter property is located in the ultra-exclusive celebrity oasis The Estates at The Oaks. According to Redfin, the redesigned home has a modern exterior, an infinity pool, and panoramic views of surrounding Malibu Canyon views.
The three story property offers:
- eight bedrooms
- 14 bathrooms
- Guest casita by the pool
- modern wine bar
- Basketball court
- Putting green
- Home theater
- 10 car garage
The view from the infinity pool (Redfin)
The real estate record in Calabasas was previously held by Khloe Kardashian, who sold her home for $ 15.5 million last November, Forbes reported.
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