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🏡 June 2024 Beverly Hills Luxury Real Estate Market Update & Trends! – Christophe Choo. 🌟

🏡 June 2024 Beverly Hills Luxury Real Estate Market Update & Trends! – Christophe Choo. 🌟

By Christophe Choo Posted Jul 05, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 June 2024 Beverly Hills Luxury Real Estate Market Update & Trends! - Christophe Choo. 🌟

🔼 Avg Sales Price: $11.02 million, 📈 UP 16%

🔻 Avg List Price $15.06 million, 📉 down 4%.

🔻Properties Sold: 9, 📉 down 16%

🔼Days on Market: 61 📆, 📈 UP 59%.

🔻 $/Sq FT: $1,472, 📉 down 13%.

Unlock the hidden wealth in your Beverly Hills property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Beverly Hills? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!

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Welcome to the June 2024 luxury real estate market update for Beverly Hills, California! Beverly Hills is synonymous with luxury, opulence, and the quintessential Southern California lifestyle. Famous for its world-renowned shopping, dining, and stunning residential estates, Beverly Hills continues to be one of the most desirable places to live and invest in real estate. Let's dive into the latest market trends and statistics for this iconic city.

Market Overview

As of June 2024, the average sales price for homes in Beverly Hills has risen to $11.02 million, marking a 16% increase from the previous 90 days. This significant rise underscores the ongoing demand for luxury properties in this prestigious area. On the other hand, the average list price has decreased by 4%, now standing at $15.06 million. This slight dip may indicate a more competitive market, with sellers adjusting prices to attract discerning buyers.

Properties Sold and Market Time

In June, nine properties were sold in Beverly Hills, a decrease of 16% from the previous 90 days. This reduction in sales volume suggests that while interest remains high, buyers are taking more time to make their purchasing decisions. Reflecting this trend, the average days on market has surged by 59%, now averaging 61 days. This extended market time highlights the importance of strategic pricing and marketing in the luxury real estate sector.

Price Per Square Foot

The average price per square foot for Beverly Hills properties has decreased by 13%, now at $1,472. While this represents a slight decline, it still reflects the premium value of real estate in this exclusive market. Buyers are drawn to Beverly Hills for its unparalleled lifestyle, making every square foot a valuable investment.

Why Beverly Hills?

Beverly Hills remains one of the best places in the country to live and work, offering an unmatched blend of luxury and convenience. The city's iconic status, combined with its upscale amenities and beautiful residential estates, makes it a prime location for those seeking the ultimate in Southern California living.

Unlock Your Property’s Potential

Curious about the hidden wealth in your Beverly Hills property? Wondering about your home equity or thinking of buying in this prestigious area? Our team of expert real estate agents is here to provide you with the insights you need. Contact us at 📱 310-777-6342 or send us a DM for personalized advice and market analysis.

Bottom Line

Beverly Hills continues to shine as a premier real estate market, despite fluctuations in sales prices and market activity. Whether you're looking to buy or sell, understanding the current market trends and leveraging expert insights is crucial. Connect with a reliable real estate agent to navigate this unique market and make informed decisions.

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