Beverly Hills Real Estate Report March 2020

Beverly Hills Chandelier

As with most of Los Angeles, Beverly Hills real estate enjoyed a continued increase in number of sales and a decrease in the average number of days on the market.

The number of February 2020 home sales recorded an over 105% increase from February 2019, from 17 to 35 with a smaller increase from 27 in January 2020. The number of new listings remained fairly steady with 84 in February 19, 88 in January 20 and 85 in February 2020.

The average sales price rose over 3.5% year to year from $4,987,792 in February 2019 to $5,167,999 in February 2020 and declined over 5% from $5,440,266 in January 2020. Average days on the market has shrunk from 73 in February 2019 and 90 in January 2020 to 68 in February 2020.

Of the 35 sold homes in Beverly Hills last month, the lowest price sale was $1,405,000 for a 2 bedroom, 3 bathroom updated condominium, which sold after 28 days on the market. The median sale price of $3,575,000 was for an updated 4 bedroom, 3 bathroom gated home on approximately 1/3 acre in Beverly Hills Post Office. It sold in just 8 days. The highest sale in February was recorded on the MLS at $16,800,000 for a new 5 bedroom, 8 bathroom estate on approximately 1/2 acre in Trousdale Estates. The over 9000 square foot home was originally listed for $23,995,000 in May 2019.

There are currently 257 homes for sale in Beverly Hills, including 220 single residences and 37 condominiums. Homes have been listed for an average of 109 days. Properties range from $699,000 for a remodeled studio condominium with 1 bathroom and HOA fees of $737.53 per month to a median price of $3,495,000 for a 4 bedroom, 5 bathroom renovated, gated home on almost 1/3 acre in Beverly Hills Post Office. At the top of the market is a 20 bedroom, 23 bathroom estate on approximately 9 acres in Beverly Park, offered at $165,000,000.

Take a look to see the latest sales activity for the prior month and year, along with current and past year-to-date statistics for market activity in Beverly Hills. Click on the snapshot image or here to view the full report

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