Are you thinking of buying or selling a Beverly Hills home, check out how the market is doing. Be sure to click on each chart below for more detailed numbers by month.
Overview of Beverly Hills single family home sales over past year to February 2011
The statistics to take note of are, in this case February 2010 vs February 2011 as these take seasonality out of the equation:
February 2010 had one 18 – February 2011 had 11. December 2010 had the highest number of sales – 30
Average days on the market of Beverly Hills homes sold is down from 86 to 74
The median list price is up 15% from $2,995,000 to $3,450,000. The median sold price is down 47% from $3,200,000 to $1,685,000. This indicates that sellers’ and buyers’ expectations are way out of balance.
Number of Beverly Hills homes for sale in any given month is down 12% from 330 to 292.
New Beverly Hills homes coming on the market each month is up from 52 to 68.
Supply vs demand shows a market trend. Supply has come down 12% vs demand which has dropped by 39%. But there is a long way to go before the market stabilizes (numbers become flatter)
The ultimate indicator as to whether the Beverly hills real estate is a buyers’ or sellers’ market is Months Supply of Inventory, or Absorption Rate. The months supply has come down significantly from 22.2 months in February 2010 to 9.5 months in February 2011. It is still a buyers’ market. A stable market is 6 months. Beverly Hills single family home market is headed in the right direction.
Map of Beverly Hills
View Beverly Hills, California in a larger map
Buying or Selling Los Angeles Real Estate
Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!
When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.
If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.
Westside Los Angeles Real Estate, including, but not limited to:
- Westwood Real Estate – Westwood single family homes, Wilshire Corridor condominiums, Century City condominiums
- Brentwood Real Estate – Brentwood single family homes, Brentwood condominiums
- Santa Monica Real Estate – Santa Monica single family homes, Santa Monica condominiums
- Beverly Hills Real Estate - Beverly Hills single family homes, Beverly Hills condominiums
- Culver City Real Estate – Culver City single family homes,
- Palms/Mar Vista Real Estate - Palms/Mar Vista single family homes, Palms/Mar Vista condominiums
- Silver Lake Real Estate - Silver Lake single family homes, Silver Lake condominiums
- Echo Park Real Estate – Echo Park single family homes, Echo Park condominiums
For more information on how I can best serve your Los Angeles real estate needs, please fill out the online contact form or give me a call at 310-473-6919.