Is Beverly Hills, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Beverly Hills was a Seller's Market.
Key Takeaway
Beverly Hills is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Beverly Hills, CA
How much do homes in Beverly Hills, CA cost?
Median Sold Price
$3,151,000
$1,048/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Beverly Hills have sold for 13.6% less than they did a year ago.
Summary: The median home sold price in Beverly Hills was $3,151,000 in May 2024, down 13.6% from last year, and the median price per square foot was $1,048.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $790K | $1.1M | +39.2% |
| 2 Bedrooms | $1.4M | $1.4M | -2.9% |
| 3 Bedrooms | $2.5M | $2.4M | -1.1% |
| 4 Bedrooms | $4.2M | $3.7M | -11.6% |
| 5+ Bedrooms | $8.4M | $6.7M | -20.7% |
Summary: Beverly Hills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.2%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes decreased by 11.6%, and 5+ bedroom homes decreased by 20.7%.
Median Sold Price Compared To Nearby Cities
| Los Angeles | $968.1K | $995.9K | +2.9% |
| West Hollywood | $1.1M | $1.1M | -4.3% |
| Beverly Hills | $3.6M | $3.1M | -13.6% |
Housing Supply in Beverly Hills, CA
How many homes are available in Beverly Hills, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 262 | 326 | +24.4% |
Summary: The Beverly Hills real estate market had 326 homes for sale in May 2024, a 24.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 46 | 55 | +19.6% |
| 3 Bedrooms | 39 | 63 | +61.5% |
| 4 Bedrooms | 46 | 63 | +37.0% |
| 5+ Bedrooms | 128 | 142 | +10.9% |
Summary: The Beverly Hills housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 19.6%, 3 bedroom homes increased by 61.5%, 4 bedroom homes increased by 37%, and 5+ bedroom homes increased by 10.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 22 | -21.4% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Beverly Hills, you may be able to get a good deal. 81.8% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Beverly Hills in May 2024, down by 21.4% month-over-month. Of the 22 sold homes, 82% were sold under asking, 5% were sold at asking, and 14% were sold over asking.
Days on Market for Beverly Hills, CA
How long does it take to sell a home in Beverly Hills, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 60 Days | 43 Days | -28.1% |
Summary: Homes in Beverly Hills had an average of 43 days on market in May 2024, down by 28.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Beverly Hills are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Beverly Hills; 50% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.