It is our pleasure to introduce Partners Trust’s 2017 third quarter real estate market report. This quarter brought milestones for L.A. County’s real estate market and landmark events for Partners Trust.
Many of L.A.’s most coveted neighborhoods experienced a jump in average sold price year-over-year, from West Hollywood to Pasadena, and most homes spent significantly fewer days on the market. In fact, Los Angeles County experienced the greatest demand in residential properties since the height of the housing market in 2007.
Creating the Ultimate California Brokerage Company
This August also set the course for a new era of Los Angeles Real Estate when Partners Trust merged with Pacific Union International. This merger followed Pacific Union’s merger with L.A.’s John Aaroe Group in December 2016; together, the three brokerages are creating the Ultimate California Brokerage Company, the largest independent real estate brokerage in California and the dominant force in the Los Angeles real estate market — all while maintaining the nimbleness of a neighborhood-focused, independent brokerage.
The new company, which plans to unite under the Pacific Union name this January 2018, is comprised of 47 offices and more than 1,450 real estate professionals in Northern and Southern California. The Southern California offices will continue to operate under their current leadership and will incorporate Pacific Union’s innovative marketing and business intelligence assets into their real estate practice.
With a host of new resources and an immense expansion of network, both statewide and globally, Partners Trust is looking forward to serving its clients better than ever before.
To access our previous real estate market reports or return to this report at a later date, please visit our Market Stats page.