🏡 May 2024 Luxury Real Estate Market Update & Trends for Beverlywood 🌟
🏡 May 2024 Luxury Real Estate Market Update & Trends for Beverlywood 🌟
🔼 Avg Sales Price: $2.42 million, 📈 UP 23%
🔼 Avg List Price $2.47 million, 📈 UP 3%
🔼 Properties Sold: 13, 📈 UP 26%
🔻 Days on Market: 14 📆, 📉 down 57%
🔼 $/Sq FT: $1,169, 📈 UP 17%
Unlock the hidden wealth in your Beverlywood property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Beverlywood? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!
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Discover the Charm and Growth of Beverlywood's Real Estate Market - May 2024 Update
Welcome to our latest exploration into the vibrant Beverlywood real estate scene, a neighborhood renowned for its tranquil residential streets and a strong sense of community. Nestled just minutes from the bustling center of Beverly Hills, Beverlywood offers an enticing alternative for those seeking a blend of suburban serenity with close proximity to urban amenities.
Beverlywood's Market Snapshot - Rising Trends and Rapid Sales
As of May 2024, Beverlywood is witnessing a significant surge in its housing market. The average sale price in the area has climbed to an impressive $2.42 million, primarily purchasing properties considered teardowns, reflecting a robust 20% increase from previous figures. Meanwhile, the average list price has also seen a growth, reaching $2.47 million—a modest rise of 3%. This price point highlights Beverlywood's transition towards more luxurious, expansive homes, as evidenced by the ongoing trend of replacing older homes with new constructions ranging from 10,000 to 15,000 square feet.
This month, the neighborhood saw 13 properties change hands, marking a 26% increase in sales volume. This uptick in transactions underscores the area's desirability and the swift pace at which homes are being snapped up, with properties spending an average of just 14 days on the market—down a staggering 57% from prior periods. This swift market movement indicates a high demand for homes in this quintessentially LA locale.
Price Per Square Foot – A Key Indicator of Value
A critical measure of Beverlywood's market strength is the price per square foot, which currently stands at $1,169, up 17% in recent months. This significant rise points to the increasing value of real estate in the area, positioning Beverlywood as a competitive player near the affluent Beverly Hills.
Beverlywood: A Sought-After Neighborhood
The appeal of Beverlywood lies not just in its real estate but also in its community-focused atmosphere, resembling a park-like environment that contrasts sharply with the urban density of nearby areas. It's perfect for those who cherish a quieter lifestyle but still value the convenience of city life. Just a stone's throw from downtown Beverly Hills, residents enjoy swift access to luxury shopping, fine dining, and cultural experiences, making Beverlywood a strategically advantageous and enjoyable place to live.
Why Consider Beverlywood?
For potential homebuyers or investors, Beverlywood offers a unique opportunity. Whether you are looking to invest in a sizeable new construction or find a quaint spot close to the heart of LA, Beverlywood caters to a diverse range of preferences and budgets. Its ongoing development, coupled with a strong market performance, promises good returns and a high quality of life.
Are you intrigued by Beverlywood's charm and potential? If you're considering buying or investing in this beautiful neighborhood, now might be the perfect time to explore your options as the market dynamics continue to evolve favorably. Dive into the Beverlywood lifestyle and discover a community where luxury meets tranquility, just minutes from the vibrant heart of Los Angeles.
Visit our website or contact us directly for more information and to view current listings that could be your next dream home in Beverlywood. Let's help you navigate this flourishing market and find a place where you can thrive.