Beverly Hills Real Estate Market Report November 2012

As with most  areas of Los Angeles, Beverly Hills buyers are anxiously awaiting new inventory.

The Beverly Hills real estate market is a unique one given the wide variation in home prices.  *The sale of a several high priced homes in one month and lower priced homes in another is going to affect the median price in a not too meaningful way.  Next month we will look at the sales for the year which will paint a more accurate picture.

Beverly Hills Real Estate Market Report November 2012

Sales and under contract properties reflect the status today.

NOVEMBER BEVERLY HILLS SINGLE FAMILY MARKET REPORT
# Homes List/Sales Price
 For sale  67 $1,299,000 to $58,000,000
 Under contract  28 $799,000 to $7,595,000
 Sold  17 $1,600,000 to $16,500,000
 November sold median price $2,870,000
COMPARISON TO OCTOBER
 For sale -6
 Under contract -5
 Sold -8
 Sold median price +77.70%*
MARKET ABSORPTION
Market history 1 month 3 months 6 months 12 months
Closed transactions  17 62 97 163
Average sold per month 17 20.67 16.17 13.58
Homes currently for sale 67 67 67 67
Months supply on the market 3.94 3.24 4.14 4.93

 

Sellers Market Balanced Market Buyers’ Market
Less than 5 months 5 to 7 months More than 7 months

Beverly Hills single family home sales were down in November over the previous month as are the number of  homes on the market and the number of pending sales.  The median price was up substantially, a reflection of the higher priced sales.  Inventory is still low and the Beverly Hills real estate market favors sellers.

NOVEMBER BEVERLY HILLS  CONDO MARKET REPORT
# Homes List/Sales Price
 For sale  40 $418,000 to $13,200,000
 Under contract  21 $299,000 to $1,197,000
 Sold 4 $515,000 to $785,000
 November sold median price $729,500
COMPARISON TO OCTOBER
 For sale =
 Under contract -1
 Sold -5
 Sold median price -8.58%
MARKET ABSORPTION
Market history 1 month 3 months 6 months 12 months
Closed transactions 8 26 57 123
Average sold per month 8.00 8.67 9.5 10.25
Homes currently for sale  40 40 40 40
Months supply on the market  5.00 4.61 4.21 3.90

Information provided by the MLS/CLAW deemed reliable but not guaranteed

The Beverly Hills condo market remains slower than the single family market.  Sales and the median price was down over the previous month. The number of condos for sale are the same as during the previous and the months’ inventory still favors sellers.

Previous market reports

Beverly Hills Real Estate Market Report October 2012
Beverly Hills Real Estate Half Yearly Market Report 2012
Beverly Hills Real Estate Market Report 1st Qtr 2012

Homes for sale in Beverly Hills

(Sample Listings)

See all Beverly Hills Homes for Sale.
(all data current as of 7/28/2014)

  1. 2 beds, 2 full baths
    Home size: 1,571 sq ft
    Lot size: 11,510 sqft
    Year built: 1974
    Days on market: 2
  2. 2 beds, 2 full, 1 part baths
    Home size: 1,626 sq ft
    Lot size: 19,842 sqft
    Year built: 1987
    Parking spots: 2
    Days on market: 3
  3. 3 beds, 3 full, 1 part baths
    Home size: 1,807 sq ft
    Lot size: 6,070 sqft
    Year built: 1925
    Parking spots: 4
    Days on market: 5
  4. 1 bed, 1 full bath
    Home size: 602 sq ft
    Lot size: 7,725 sqft
    Year built: 1930
    Days on market: 6
  5. 2 beds, 3 full baths
    Home size: 1,753 sq ft
    Lot size: 18,264 sqft
    Year built: 1975
    Days on market: 6
  6. 2 beds, 3 full baths
    Home size: 1,753 sq ft
    Lot size: 20,806 sqft
    Year built: 1988
    Days on market: 6
  7. 2 beds, 2 full baths
    Home size: 1,397 sq ft
    Lot size: 11,484 sqft
    Year built: 1974
    Parking spots: 2
    Days on market: 7
  8. 2 beds, 3 full baths
    Home size: 2,122 sq ft
    Lot size: 42,836 sqft
    Year built: 1974
    Parking spots: 2
    Days on market: 7
  9. 3 beds, 4 full baths
    Home size: 3,230 sq ft
    Lot size: 17,850 sqft
    Year built: 2006
    Parking spots: 3
    Days on market: 7
  10. 2 beds, 2 full, 1 part baths
    Home size: 1,790 sq ft
    Lot size: 25,995 sqft
    Year built: 2004
    Parking spots: 2
    Days on market: 9

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

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:

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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CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share).

Date last updated: 7/28/14 6:39 AM PDT

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