🏡 April 2024 Beverly Hills Luxury Real Estate Market Update & Trends! – Christophe Choo. 🌟
🏡 April 2024 Beverly Hills Luxury Real Estate Market Update & Trends! - Christophe Choo. 🌟
🔻 Avg Sales Price: $7.96 million, 📉 down 33%.
🔼 Avg List Price $16.14 million, 📈 UP 4%
🔼 Properties Sold: 10, 📈 UP 15%
🔻 Days on Market: 49 📆, 📉 down 1%.
🔻 $/Sq FT: $1,613, 📉 down 14%.
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 Beverly Hills, California, a global symbol of luxury, elegance, and the quintessential Southern California lifestyle. Known for its iconic Rodeo Drive, upscale dining, and luxurious residential estates, Beverly Hills is more than a city; it’s a lifestyle. Let’s explore the latest data and trends from the Beverly Hills real estate market in April 2024.
Market Overview
This April, the average sales price in Beverly Hills stood at $7.96 million, marking a 33% decrease compared to the previous 90 days. However, the average list price increased by 4%, reaching $16.14 million. We recently listed a magnificent, newly built home in the Beverly Hills Flats, spanning 11,460 square feet on a nearly 16,000-square-foot lot, listed just under $24 million.
Properties Sold and Market Time
In April, 10 properties were sold in Beverly Hills, reflecting a 15% increase from the previous period. This indicates a steady demand in the market, showing that buyers are still eager to invest in the city’s luxurious properties. The days on market (DOM) decreased slightly by 1%, averaging around 49 days. This points to a dynamic market where properties, particularly in high-demand areas, are sold quickly.
Price Per Square Foot
The average price per square foot in Beverly Hills decreased by 14%, now sitting at $1,613. Despite this slight dip, Beverly Hills real estate remains highly valuable, with prices per square foot still reflective of the prestige and allure of the city.
Conclusion
The Beverly Hills real estate market continues to demonstrate its resilience and allure. Even with slight fluctuations in average sales prices and price per square foot, the city remains a coveted destination for luxury buyers. The upward trend in properties sold and the relatively low days on market highlight the continued interest in Beverly Hills real estate.
Call to Action
If you're interested in exploring the luxury real estate market in Beverly Hills, contact us today. Let's find the perfect property that meets your needs and lifestyle in this iconic city.