Beverly Hills Housing Market Report | 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

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, Westwood condominiums, 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 homes
• Silver Lake Real Estate - Silver Lake single homes
  
• Echo Park Real Estate - Echo Park homes

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

Read more: http://www.homejane.com/beverly-hills-housing-market-overview-january-201.html#ixzz1mDwkgcMu