The Beverly Hills,CA Real Estate Market Report January 15, 2016

The Beverly Hills, CA  Real Estate Market Report January 15, 2016

The Beverly Hills Real estate Market Trends are always interesting and I get asked all the time. Needless to say often times I am too busy so this important Report gets pushed back and now I am finally getting to it.

This week the median list price in Beverly Hills, CA 90210 is $6,497,500. Needless to say this number is pretty incredible compared to the rest of the Country as well as the rest of the Greater Los Angeles.

Inventory has been lightening lately and the Market Action Index has been trending up. Even though the Market Action Index has been moving up the Days on Market is increasing as well. In case you are not familiar with “The Market Action Index” let me clarify it. That answers the question of “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory.

As I said the days-on-market have been increasing as well, but this is still just a mildly positive indication of the market.

Supply and Demand is another aspect of the big picture. Home sales have been exceeding new inventory for several weeks. Even thou it is still a Buyer’s Market, the prices seem to have responded by moving upward. If the demand trends continue, I would expect price to keep increasing upward, especially once we see a Seller’s Market in Beverly Hills, CA 90210!

Prices are equally important: The way I see it is, that prices in this zip code are marching upward and we are getting close to all time high. I anticipate a downward shift in the Market Action Index which will have an effect on the price strength and I expect it to be subsiding.

This in turn will translate to more buying opportunities. Now with that said let’s look at the four Quartiles:

 First Quartile the Median Price is $15,475,000, needless to say that median living square ft. of the homes are 8160 on approximately .5 to 1 acre of land. This is based on approximately 40 homes being on the market. The most expensive properties need about an average of 210 days to sell (DOM).

The Second Quartile or Upper-Middle consists of a median price of $8,500,000. This is based on approximately 5500 Sq. Ft median living space on about the same .5 – 1 acre of land. The average Days on market is on 144 days. Clearly there are many reasons for this, one of them being the potential for developing a property of this magnitude to a larger living area, hence increasing the value.

The Third Quartile or Lower- Middle consists of a median price of $4,995,000.00 with a medial 4300 living square feet. The more interesting factor is the Lot Size which is approximately .25 -.5 acre of land. This is the true separator of the price point. Most people focus on the price and living square feet and do not take into consideration the size of the land. Clearly Beverly Hills land is at a premium. The Days on market is about 158 days.

The Bottom or Fourth Quartile also known as the least expensive properties in Beverly Hills, CA. They consist of about a median price if $2,795,000.00 with a median 2700 sq. ft. of living space on a parcel of 8,000- 10,000 sq. ft. of land. The Days on market is 166 days.

I would like you to compare the Prices as well as the Days on Market to this past November and then you will understand what I am referencing in this Market Trend Report   Beverly Hills Market Report November 2015 The numbers are staggering!

If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com.  I am a pet friendly realtor and I contribute a portion of my commission to local animal rescue organizations.