Beverly Hills Housing Market Review May 2012

Like many of Los Angeles County’s most desirable areas, the Beverly Hills housing market has various price points.  The report below is broken down into 4 for single family and 2 for condos.

Beverly Hills Real Estate Market Report

 

Beverly Hills Homes Under $2 Million

Sold Median Avg Price Per SF Sold May Active In Escrow New May Absorption
8 $1,210,000 $638.16 1 13 13 2

Not surprisingly, homes under $2 million in Beverly Hills are selling quite well.  There are 13 homes in escrow which should make a good month for sales in June.

Beverly Hills Homes $2 to $5 Million

Sold Median Avg Price Per SF Sold May Active In Escrow New May Absorption
19 $3,450,000 $816.12 3 30 10 5

The $2 to $5 Million range is also doing well.  5 new homes came on the market in May, and with 10 homes in escrow June should look good.

Beverly Hills Homes $5 to $10 Million

Sold Median Avg Price Per SF Sold May Active In Escrow New May Absorption
16 $6,562,500 $1,021.94 2 31 3 9

Beverly Hills homes between  $5 to $10 Million are leaning towards a buyers’ market, but only just.  With 9 new homes coming on in May, this may bring fresh activity.  June will tell.

Beverly Hills Homes Over $10 Million

Sold Median Avg Price Per SF Sold May Active In Escrow New May Absorption
5 $17,000,000 $1.037.68 3 22 2 5

The good news is that although only 5 Beverly Hills homes over $5 Million this year, all 5 were in May.  Let’s see how June goes.

Beverly Hills Condos Under $2 Million

Sold Median Avg Price Per SF Sold May Active In Escrow New May Absorption
51 $790,000 $455.79 15 43 25 12

Condos under $2 Million are popping off the shelves.  15 sold in may and 12 new ones came on the market.

Beverly Hills Condos Over $2 Million

Sold Median Avg Price Per SF Sold May Active In Escrow New May Absorption
3 10,500,000 $2,311.58 1 3 1 0

There isn’t a huge market for high end condos in Beverly Hills.

All information provided by MLS/CLAW is deemed accurate but is not guaranteed.  Also some listings shown as new may simply be back on the market.

Sellers’ Market Buyers’ Market Stable Market
Less than 6 months inventory More than 6 months inventory

 
 
 

Homes for Sale in Beverly Hills

Buying or Selling Los Angeles Real Estate

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Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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Comments

  1. It’s really interesting that you a have a combo of buyer’s and seller’s market pending the price point. It really goes to show how local real estate is…it can even vary by price point within the same town.

  2. That is for sure, Debe. It seems to favor buyers the higher the price, although I’ve heard that the luxury market is starting to move.

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