Ultra-luxury buyers hold upper hand in LA as agents make sense of new normal

The whispers began last summer. “The market wasn’t teetering, but it was very soft,” Coldwell Banker Realty’s Michael Collins said. “Buyers were taking their time. They weren’t rushing into buying. They were talking to agents about comparables. Some homes were sitting on the market for a year.” The softening was hard to see with the ultra-luxury market still on a roll. After all, two $110 million deals closed last year, at 594 South Mapleton Drive in Holmby Hills and 630 Nimes Road in Bel-Air, and homes in Malibu and Bel Air sold for $80 million and $67.5 million.  But amid […]This article originally appeared on The Real Deal. Click here to read the full story.