Beverly Hills Home Sales Increased Year-Over-Year
The luxury real estate market in Beverly Hills has had an active year with multiple year-over-year increases.
According to the market summary provided by Joe Babajian, Rodeo Realty, the report analyzed all residential property types in April 2024 and outlined a year-over-year increase in number of home sales of 16.67% to 28 in April 2024 compared to 24 in April 2023. In addition to more sales, new listings also increased by 40.32% to 87 in April 2024 compared to 62 April 2023. The average days on the market increased by 3.08% from 65 in April 2023 to 67 in April 2024.
Perhaps the most notable increase noted in the market summary was in the median list price of sold listings across all property types which increased 89.66%, from $1,997,000 the previous April to $3,787,500 in April 2024.
The average list price of sold listings increased 21.97% to $5,270,285 from $4,320,895. The average sold price increased 24.54% across all property types from $4,963,679 to $3,985,630.
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Sources:
MARKET REPORT BEVERLY HILLS (CITY) APRIL 2024 – Rodeo Realty