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Jane Peters' Blog

By Jane Peters | Agent in Los Angeles, CA

Beverly Hills Real Estate Market Report November 20121

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


# HomesList/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 history1 month3 months6 months12 months
Closed transactions 176297163
Average sold per month1720.6716.1713.58
Homes currently for sale67676767
Months supply on the market3.943.244.144.93

 

Sellers MarketBalanced MarketBuyers’ Market
Less than 5 months5 to 7 monthsMore 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


# HomesList/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 history1 month3 months6 months12 months
Closed transactions82657123
Average sold per month8.008.679.510.25
Homes currently for sale 40404040
Months supply on the market 5.004.614.213.90

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

The Brentwood 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

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.

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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-real-estate-market-report-november-201.html#ixzz2EwzSOZ3x

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