After getting married last year, it seems singer John Legend and his wife, model Chrissy Teigen, are ready for bigger and better things when it comes to real estate. The picture perfect couple recently sold their cozy Hollywood Hills home for $2 million.
The home, located at 3023 Longdale Lane in the Cahuenga Pass section of the Hills, was originally built in 1961 but has since been remodeled as a quiet and serene sanctuary. It features teak cabinets, textured stone flooring and vaulted ceilings throughout the open floor plan of almost 2,000 square feet. Being the home of a celebrated crooner, one of the three bedrooms has been transformed into a recording studio.
Just last year, Legend showed off the home to Architectural Digest as well as to Oprah. The highlights of the tour included the outdoor living areas, which feature a landscaped yard, a large deck and an outdoor bathtub. The home sits on a quarter of an acre of land and features an alcove with a pendant chair where Legend remarked to Oprah that he liked to kick back with a good book.
The clean lines of the Asian contemporary home epitomize the retro zen characterized by the era in which the home was originally built. Black beams accentuate the cathedral ceiling in the living room while a glass wall opens out onto the expansive deck and rolling Southern California hills that surround the home.
West Hollywood Real Estate Levels Out At Year’s End
With the year closing out in a matter of days, the West Hollywood luxury real estate market is looking very stable based on data from Altos Research, a California-based real estate analytics company. According to Altos the median single-family home value has leveled out in West Hollywood to $2,900,365. The median home value has been on a plateau since October but had been gaining throughout much of the year.
The market in West Hollywood is also rather well balanced. Altos’ unique indicator of buyer and seller activity, the Market Action Index, indicates just a slight favor for home sellers. The MAI measures from a neutral zone of 30 whether trends are high in favor of sellers or low in favor of buyers.
The current MAI of 33.00 indicates that there are more buyers than available home on the market. This is giving sellers just a slight advantage over buyers and may lead to a break in the current price plateau toward higher home values in West Hollywood.
Inventory might be just a little strapped, however the current amount of 97 homes on the market is still higher than earlier in the year when the supply of homes dipped into the 70s. Homes are also selling just a little bit slower right now, likely a result of buyers and sellers taking the holidays to spend time with family and friends. Altos reports the average property in West Hollywood is on the market for about 135 days before selling.
If you are interested in West Hollywood luxury homes for sale, please contact our team of luxury property experts today.