Palos Verdes Estates Home Under Contract at $13.5M, Poised to Be City's Third-Priciest Sale

A gated estate at 2228 Via Cerritos in Palos Verdes Estates has gone into contract with a $13.5 million asking price, ranking among Los Angeles County's priciest homes to secure a deal last week, according to the Eklund Weekly Luxury Report Los Angeles. If sold near ask, the property would become the city's third-priciest home sale ever, per Zillow records. The more than 18,000-square-foot residence works out to about $740 per square foot. The nearly 1.5-acre property includes coastal views, a pool, tennis court, bowling alley and putting green. Mina Wan and Qianyu Guan of AI Realty hold the listing. The deal extends a record-setting run in the South Bay city. The median home price there was $2.9 million in the third quarter, up nearly 20 percent year-over-year, and properties are selling 30 percent over asking, Redfin reported. In August, 245 Rocky Point Road sold for $24.3 million, the city's priciest on-market sale, followed by 2729 Via Oleadas at $15.8 million. Countywide, luxury contracts fell 23 percent year-over-year to 17, with asking dollar volume down 16 percent to $119.5 million.