Beverly Hills Supply & Demand Statistics Month by Month for SFR !!!
Beverly Hills Supply & Demand Statistics Month by Month for Single Family Residences!!!
I have been compiling the statistics for the past two years of Single Family Residences in Beverly Hills. Needless to say the month by month figures are important for your review in order that you can make good decisions about buying or selling a home. Interestingly the most frequently asked question to me has been “…what is the Inventory like…” as well as what are the “sold statistics”.
Needless to say as I saw the figures and they confirmed what I have been suspecting all along. Just as an example November 2011 there were 318 homes for sale in Beverly Hills vs. November 2013 there were only 212 homes for sale that was a 33% drop of inventory.
Not surprisingly when there is a drop of inventory it goes hand in hand that sales would be down as well. What I was surprised by was that the numbers were truly minor in difference. Per cent wise it sounds like a large number 12% drop from November 2011 to November 2013, but the reality was only a three (3) sale difference and needless to say that could have been an after effect of slower Appraisals, delays with Lenders just to name a few reasons.
So if you see a “sound bite on the news or on the internet” Inventory has dropped 33% and sales are down 12% do not be alarmed, the price points have increased 41% during this same time period and there is a demand from buyers who have been on the sidelines for the past few years.
If you need representation to buy or sell your home, please reach out to me directly.
If you are considering buying or selling a luxury home, an ultra luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at 310.486.1002 or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commissions to local animal rescue organizations. –
