General Area in 90210>Question Details

Antonio Ribe…, Home Buyer in Winnetka, CA

What is the average DOM for 90210? Is the market in that area moving? Is it worth to build a new home in that zipcode in this market?

Asked by Antonio Ribeiro, Winnetka, CA Tue Mar 27, 2012

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Dear Antonio,
You are asking if it's worth it to build in Beverly Hills, but what is the purpose of the building? If it is a single family home you are going to live in, yes it's worth it. If you are thinking about some kind of flip type thing..it's still one of the best zip codes out there, but making a profit in this type of market won't be easy. Quite a bit will depend upon the builder's knowledge of the area and the market.
0 votes Thank Flag Link Wed Apr 4, 2012
Hello Antonio,

The average DOM for 90210 for a single family home built in 2012 is 130. The average list price and sold price of a home in 90210 is $4,462,026 and $4,113,591. The average price per square footage is $829.35.

Is the market in the area moving? Well there was a home that sold within 9 days for $290,000, so it really depends on the price and the property.

You asked whether it is worth building a new home in 90210 in this market. Does it matter to you how long it take to build the house? It will take longer to acquire permits in the hills than the flats of Beverly Hills, CA.

I would suggest purchasing a home that is already built because you can get a lot more for your money with the short sales still circulating the market. If you would like new construction, I would recommend purchasing a house or land that already has the caissons and foundation (to support the hillside homes).

If you are interested in more information about short sales, here's an article to read: http://venturablvdrealty.com/2012/03/22/get-a-deal-on-a-shor…

Best,

JoAnna Selby
Prudential California Realty ~
13103 Ventura Blvd., Suite A
Studio City, CA 91604
818.447.1024 Direct
818.783.3049 Fax
JoAnna@VenturaBlvdRealty.com
http://www.VenturaBlvdRealty.com
DRE#01894146

"Oh, by the way, I am never too busy for any of your referrals."
0 votes Thank Flag Link Tue Mar 27, 2012
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