Carolwood Estates Celebrates Remarkable Growth in 2024 Annual Report Amid Local Challenges
Carolwood Estates' 2024 Annual Report Launch
In a year marked by extraordinary challenges, 2024 has turned out to be a remarkable chapter for Carolwood Estates. As Los Angeles grapples with the consequences of devastating natural disasters, the luxury real estate brokerage has showcased exceptional resilience. Within just its second year of operations, the firm has achieved remarkable sales, clocking in at an impressive total of $3.2 billion.
Unprecedented Sales Performance
Leading the charge, CEO Drew Fenton’s all-star team has not only managed to mark their presence in the market but also redefine luxury real estate transactions in prime Los Angeles neighborhoods. Celebrating its two-year anniversary in November, Carolwood Estates has positioned itself with 35% market share in the $20 million+ residential market and a 27% share in the $10 million+ segment. This successful performance in 2024 saw their sales volume double compared to the $1.6 billion achieved in the previous year.
Amidst these challenging times in Los Angeles, the brokerage stands firm in its commitment to support local relief efforts while maintaining the highest standards of service to their clients. The Carolwood team is determined to navigate through adversity with integrity and compassion, demonstrating that expertise in the industry is more critical than ever.
A Growing Team of Top Professionals
The brokerage has expanded its team significantly, growing from 150 to 180 elite associates. Notable additions include renowned agents such as Lisa Optican, Kevin Booker, and the renowned David Parnes and James Harris from Bond Street Partners, who reported over $940 million in sales in 2024 alone. This diverse array of talent has played a pivotal role in strengthening Carolwood's market dominance.
Carolwood Estates has proudly showcased record sales across coveted neighborhoods such as Beverly Hills and Holmby Hills, culminating in high-profile transactions like the purchase of George Clooney's Studio City home for $14.5 million and Meghan Trainor's acquisition of Zedd's Encino estate for $17 million.
Recognitions and Future Outlook
In August, Carolwood was named the #1 boutique residential firm in Los Angeles by The Real Deal, placing 8th overall in terms of on-market volume. According to the publication, **2024 was dubbed
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