Newly released data from Sotheby’s reveals sales of high-end, single-family homes in Santa Monica have doubled this summer. Between May and July, there were 31 home sales in the $3M-plus range, a 107% increase over the same period last year. Part of the reason could be the area's summertime appeal, but Sotheby’s notes the forthcoming expansion of the Expo Line could also be a factor. Beverly Hills also saw a nice jump for the period with 38 high-end sales compared to 22 last year. An average sale price of $8.5M was good enough for Bel Air to get the nod as the neighborhood with the highest average sale price for the period. [Curbed]
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