Beverly Hills Post Office Single Family Real Estate Market Update: 35% price increases!!
As most of you know I am not a big fan of sensationalism, this statistic is clearly worth mentioning.
I looked at the Beverly Hills Post Office year over year SOLD statistics from July 2013 to July 2014, clearly it is sensational. The Median Sales Price in July 2013 was $2,195,000 for a single family residence. The Median Sales Price in July 2014 was $2,960,000 that is an increase of $765,000 or better stated a 35% increase!
For the readers who are not familiar with Beverly Hills:
There are two Beverly Hills, one which has the Schools System, Police, Fire and Building Department Jurisdiction and zip codes ranging from 90210-90213.
Then there is Beverly Hills Post Office (BHPO) which I am focusing on this market report. The Building Department and all other benefits fall under the jurisdiction of Los Angeles, but the homes have the coveted 90210 Zip Code.
When the market rebounded in the Greater Los Angeles area, Beverly Hills Proper was one of the first ones to experience stratospheric price increases. This was clearly fueled by foreign investors who realized what a great value Beverly Hills was compared to years before. Needless to say supply and demand started fueling the adjacent communities as well.
Now here we are and clearly Beverly Hills Post Office Real Estate Sales prices confirm what I have been saying during the down turn that you should buy in the best areas that your budget permits because they will show the first sign of return and ultimately will have the first upside.
My advice still holds, buy the smallest and most in need of repair home in the best areas and you will see huge gains. Not just investors can benefit from price increases but the average home owner can equally benefit by buying into a great neighborhood or an area where the price trends are improving!
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.
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