Stan Richman: Beverly Hills Market Update
posted Feb 5, 2010 12:16 PM by Coldwell Banker Marketing Dept.
December and the 1st part of January were very strong, we were up over 30% over last December and nearly 80% over last January. Then the rains came and cooled things off a bit.
A lot of activity for 1st time home buyers even in our area, families are co-signing for their children for them to get into a home now. Again the price range in the $1 million to $3 million is active as along as they are priced well.
The high end has been active with homes that have been reduced. We closed a $19.5 million, $16.5 million, $12 million, and $10 million in the last 45 days. We just closed a $6.5 million that the agent got the buyer off her View ad.
Inventory is not building in some areas the way I had hoped. Hopefully Spring will bring us a new crop.
Multiple offers are still happening on mostly new or redone homes that are priced well.
