Another year as flown by and it is time to review the 2011Â Beverly HillsÂ real estate market.
I have split theÂ 2011 Beverly Hills real estate market reportÂ into four section, single family by price breakdown and condos. Â I have also shown relevant percentage comparisons with the 2010 statistics.
What is Market Absorption?
Market absorption trends show the rate that properties are selling compared with inventory which enables us to see if it is a sellersâ€™ or buyersâ€™ market.
6 months worth of inventory is a balanced market. Â Under 6 months is a sellersâ€™ market, and anything over 6 months is a buyersâ€™ market.
So letâ€™s take a look:
Sales of homes under $2M inÂ Beverly HillsÂ are starting to slow down and edge into a buyersâ€™market although the number of sales over the last three months of this year is up 22% over 2010.
Homes seems to be priced well as the sales to list price is high.
The median price has been increasing over last year by as much as $11.65%
Overall an improvement over 2011
The number ofÂ Beverly Hills homes soldÂ between $2-5M have dropped over 2011, and the median price is down by as much as 13%. Although the market is still a sellersâ€™ market as inventory is low.
TheÂ Beverly Hills luxury marketÂ Â is somewhat stagnant.
Beverly Hills homes sold over $5MÂ are down from 2011 as is the median price. Â Buyers, if you are looking for aÂ Beverly Hills luxury home for sale,Â Â now is the time. Â There is plenty of inventory.
TheÂ Â Beverly Hills condo marketÂ Â is fairly stable. Â Sales over the past three months are down slightly from 2010 but were up over 6 months. Â The absorption shows a stable market and the median price is down slightly. Â But still a fairly stable stats.
Previous Beverly Hills Market Reports
Beverly Hills Home Sales to Date This Year
Beverly Hills Real Estate â€“ Half Yearly Market Report 2011
Beverly Hills Housing Market Report â€“ February 2011
Buying or Selling a Beverly Hills Home â€“ How did the 2010 Market Do?
Search Beverly Hills Homes for Sale
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