Beverly Hills Real Estate Market Report | August 2012

Let’s see how the Beverly Hills real estate market is doing compared with a year ago – August 2012.

All information provided by MLS/CLAW is deemed accurate but is not guaranteed. 

Beverly Hills Real Estate Market Report, Beverly Hills Home Sales

Single family homes


Month Sold Median For Sale Median Difference
List vs Sold
New
on Market

 Months Supply
of Inventory

 Aug-12 12 $3,825,000 142 $6,050,000 -$2,225,000 19 5.2
 Jul-12 10 $2,740,000 151 $5,400,000 -$2,660,000 33 11.2
 Jun-12 17 $3,650,000 151 $5,150,000 -$1,500,000 35 10.7
 May-12 12 $6,975,000 153 $5,350,000 -$1,625,000 27 7.2
 Apr-12 12 $4,787,500 150 $5,074,500 -$287,000 33 12.6
 Mar-12 19 $4,050,000 145 $5,675,000 -$1,625,000 41 6.9
 Feb-12 5 $2,862,000 130 $5,272,500 -$2,410,500 20 7.4
 Jan-12 3 $4,600,000 134 $5,712,500 -$1,112,500 26 18.3
 Dec-11 14 $2,280,000 132 $5,947,500 -$3,667,500 8 12.0
 Nov-11 14 $2,173,000 143 $5,900,000 -$3,727,000 25 13.8
 Oct-11 15 $2,195,000 145 $5,150,000  -$2,955,000 22 7.9
 Sep-11 10 $2,472,500 153 $4,950,000 -$2,477,500 27 12.3
 Aug-11 13 $5,275,000 162 $4,974,500 $300,500 20 8.4


Beverly Hills single family homes median sold price is down 27%  and  the median sales price is up 22% from August 2011.
The number of sold properties is down 8%.
The amount of inventory is down 12% and new inventory per month is down 5%.
The months supply of inventory is down 38% to 5.2 months, a more balanced market.  Above 6 months of inventory indicates a buyers’ market and below a sellers’.

The Beverly Hills single family market is improving but list prices are not supported by the resulting sales.  Also, fresh new inventory is needs, as in many other areas.

Condos


Month Sold Median For Sale Median Difference
List vs Sold
New
on Market

 Months Supply
of Inventory

 Aug-12 13 $875,000 63 $1,049,000 -$174,000 14 3.6
 Jul-12 8 $900,000 76 $1,049,500 -$149,500 16 4.1
 Jun-12 11 $1,050,000 75 $999,000 $51,000 18 8.6
 May-12 14 $1,030,000 78 $999,000 $31,000 15 4.1
 Apr-12 5 $1,055,000 84 $999,000 $56,000 17 5.2
 Mar-12 11 $835,000 85 $1.090,000 -$255,000 26 9.6
 Feb-12 7 $1,160,000 81 $1.090,000 $70,000 25 7.4
 Jan-12 7 $675,000 80 $1.094,500 -$419,500 16 11.0
 Dec-11 6 $765,000 88 $997,250 -$232,250 9 6.4
 Nov-11 4 $937,500 93 $995,000 -$57,500 12 11.3
 Oct-11 8 $1,212,500 97 $975,000  $237,500 4 9.0
 Sep-11 5 $874,000 108 $955,000 -$81,000 17 18.6
 Aug-11 7 $800,000 111 $9255,000 -$125,000 13 30.3


Brentwood condos median sold price is up 9% and the for sale median is up 13% over August 2011.
The number of sold properties is up 86%.
The amount of inventory is down 13% but the amount of new inventory per month is up 8%
The months supply of inventory is down 88% to 3.6 months making it a sellers’ market.

Beverly hills condo sellers would be well served to put them properties on the market at this time.

Homes for sale in Beverly Hills

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!

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Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.

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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