Market Update: Beverly Hills, CA December 2022
Supply and demand for homes throughout Beverly Hills are becoming more level in recent months making the real estate market throughout the area more balanced than in previous months, according to realtor.com’s recent statistics.
The median listing home price during November 2021 was $5.3M, which is a 34.7% increase compared to November 2020. The median listing price per square foot was $1.3K. Listings were on the market for an average of 67 days on the market. The median sale price was $4.3M, and the Sale-to-List Price Ratio was 96.33%.
Beverly Hills luxury real estate agent Christophe Choo, Coldwell Banker Global Luxury suggests a Seller’s market is still at play throughout the Beverly Hills area and summarizes the forecast for both buyers and sellers in 2022 in a recent post.
“Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today’s affordability is still in your favor.” Says Christophe.