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🏡 December 2023 Luxury Real Estate Market Update & Trends for Beverlywood 🌟

🏡 December 2023 Luxury Real Estate Market Update & Trends for Beverlywood 🌟

By Christophe Choo Posted Jan 12, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 December 2023 Luxury Real Estate Market Update & Trends for Beverlywood 🌟

🔻 Avg Sales Price: $1.76 million, 📉 down 23% Room for negotiation!

🔻 Avg List Price $2.07 million, 📉 down 13%

🔻 Properties Sold: 6, 📉 down 33%

🔻 Days on Market: 20 📆, 📉 down 36%

🔼 $/Sq FT: $1,057, 📈 UP 7%. Act fast!

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Let's dive into the December 2023 real estate market snapshot for Beverlywood and its surrounding areas, a unique and highly sought-after enclave just south of Beverly Hills. Known for its strong homeowners association and its proximity to the heart of Los Angeles, Beverlywood offers a blend of accessibility and luxury living.

Beverlywood's Market Trends: A Closer Look As we look at the numbers, the average sales price in Beverlywood has experienced a notable shift. Currently, the average sales price stands at $1.76 million, showing a 20% decrease from the previous 90 days. Likewise, the average list price has adjusted to just over $2 million, down by about 13%. This trend indicates a more approachable market for prospective buyers.

Sales Dynamics and Market Popularity The Beverlywood area, always a popular choice among buyers, saw six properties sold in December, which is a 30% decrease compared to the previous period. Despite this, homes in Beverlywood continue to sell relatively quickly, with an average of 20 days on the market, down by 36%. This quick sales cycle underscores the enduring appeal of the neighborhood.

Price Per Square Foot and the Growing Demand Interestingly, the average price per square foot in Beverlywood has increased by 7% to $1,057, reflecting a growing demand for quality in this prime location. This increase is significant, especially considering the general dip in sales and listing prices, and highlights the area's value in terms of location and lifestyle offerings.

Beverlywood's Prime Location and Lifestyle Nestled just south of Beverly Hills and within the bustling city of Los Angeles, Beverlywood is ideally located for those seeking a blend of suburban tranquility and urban convenience. The area is rich with cultural landmarks, including temples and synagogues, and offers easy access to shopping, dining, and entertainment options. It's a mere five-minute drive from downtown Beverly Hills, making it an ideal location for those who appreciate proximity to the city's most exclusive areas.

Conclusion: As we wrap up December 2023, Beverlywood and its vicinity continue to attract those looking for a blend of luxury, culture, and convenience. If you're contemplating a move to or within Los Angeles, Beverlywood's current market trends offer a unique opportunity, especially for those seeking the allure of nearby Beverly Hills. For more insights and assistance in navigating this dynamic market, connect with a local real estate expert today.


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