Bel Air- Holmby Hills, 90077 Zip Code: Real Estate Market Update!
Bel Air – Holmby Hills, 90077 Zip Code: Real Estate Market Update!
The 90077 zip code has been and is a very desirable destination place to live in the greater Los Angeles area from all over the world. Bel Air is equally loved by families who want to have their children in a good school system, as well as the super affluent who just want to have a residence where the who is who of the world had and call Bel Air their home in the past fifty plus years as well as the present.
I have written before that Ronald Regan, Frank Sinatra, Elisabeth Taylor and many others have called Bel Air their home. Dr Phil and many others live in Bel Air quietly and unassumingly. There are many others who do not want their names on a public posts known that they still call Bel Air their home.
I have noticed in the past couple months that the Bel Air Real Estate has cooled a bit in the Luxury Segment. So I decided to find out if my perception was reality or not. It turns out when an area has been super hot and it cools down we get anxious. So with that said let us look at the facts.
The Median Sales Price is up by 2%. August 2013 the median Sales Price was $1,900,000. Now August 2014 the Median Sales Price is up to $1,945,000. This I actually find interesting.
Inventory is down by 17% and Sales are up by 43%. So the perception is not quite the reality. The market is still very active.
So let us look at the Days on Market this usually tells us how the market is. Interestingly the days on market are down by 4%. August 2013 the average was 77 days now in August 2014 the days dropped to 74.
In conclusion, days on market are down, sales prices are up, inventory is down and sales activity is up. Clearly the market is very healthy it might not be as hot as it was in January but nothing to be concerned about.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at email@example.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.