Beverly Hills Housing Market Overview | January 2012

How is the Beverly Hills Housing market doing so far this year?  Let’s take a look.

Beverly Hills single family homes under $1 million

Not surprisingly.  There are none.

Beverly Hills condos under $1 million

Sold:  7 / +1 over same period last year
Median price:  $645,000/  -3.0%  over same period last year
Active listings:  25
Absorption rate*:  5.56 months

Beverly Hills single family homes $1 to $2 Million

Sold:  0 /  -1 over same period
Active listings:  11
Absorption rate*:  3.47 months

Beverly Hills condos $1 to $2 Million

Sold:  2/ +2 over same period last year
Median price:  $1,090,000
Active listings:  19
Absorption rate*:   10.38 months

Beverly Hills single family homes $2 to $5 Million

Sold:  1/ -5 over same period last year
Price:  $4,600,000/ Median price last year – $2,635,000
Active listings:  22
Absorption rate*:  4.89 months

Beverly Hills condos $2 to $5 million

Sold:  0/ same as same period last year
Active listings:  5
Absorption rate*:  7.46 months

Beverly Hills single family homes over $5 Million

Sold:  3/ same as same period last year
Median price:  $6,000000/ -53.85% over same period last year
Active listings:  56
Absorption rate*:  16.82 months

Beverly Hills condos over $5 Million

Sold:  1/ – 1 over same period last year
Active listings:  5
Absorption rate*:  31.25 months

*Absorption rate is the number of months it will take to sell the existing inventory.   6 months is a balanced market, over six months a buyers’ market and under six months a sellers’ market.  The absorption rates above are based on the last six months sales.Not surprisingly, single family homes under $5 Million and condos under $1 million are doing quite well for Beverly Hills home sellers as is the $2 to $5 Million range for single family homes.  The other brackets favor buyers, especially the over $5 Million single family market.

Previous Beverly Hills Market Reports

Beverly Hills Real Estate – 2011 Report and Analysis

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