705 Cumberland Road, Glendale: Most Expensive Home Sold July 2019

The most expensive home sold in July 2019 was 705 Cumberland Road, Glendale. This gorgeous Spanish estate sold for $2,670,000 in forty-four days. This luxury Glendale home originally listed at $3,100,000. The home was previously listed at $3,200,000 with another Brokerage at the end of last year without selling. I had the pleasure of previewing this home on broker’s caravan.

MLS REMARKS READ: Set on one of the most coveted streets in Glendale stands this 1923 Mediterranean trophy estate. Extremely private 5,142 square foot house, a detached 818 square foot guest house & a 3-car garage on a 34,000+ square foot. This is an entertainer’s dream. Period details at every turn this showcase home boasts large entertaining spaces, an oversized regal formal LR with period French doors & a decorative fireplace. High ceilings throughout, with a grand dining room perfect for large dinner parties, a large kitchen fully equipped with modern day appliances & tons of custom cabinetry. A separate breakfast room overlooks a manicured rose garden.

The lower level features a large family room, wine cellar, kitchenette, & a private room great for a media room. 4 generous bedrooms upstairs including a sunroom and 3 private baths. Park like grounds, a sparkling pool, cabana & a guest house with a kitchen, 2 baths, and a bedroom. A one of a kind estate for anyone looking for a compound that is private, grand & expansive.

The average list price for all of Los Angeles County remained at $1.9 million, no change from two-weeks ago. This number is high due to the mix of homes in the luxury ranges that sit on the market and do not move as quickly as the lower end. For luxury homes priced between $1.5 million and $2 million, in the past two weeks, the Expected Market Time increased from 123 to 132 days. Homes priced between $2 million and $3 million, the Expected Market Time increased from 211 to 220 days. For luxury homes priced between $3 million and $4 million, the Expected Market Time increased from 266 to 319 days.  Los Angeles homes priced over $1.5 million, account for 28% of the inventory and only 10% of demand.