subject: Beverly Hills Real Estate Market Comparison Report (february 2009 Vs. February 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of Beverly Hills Real Estate Market comparing February 2009 to February 2010.
Summary of Key Points
Beverly Hills Real Estate has started showing signs of improvement. Median sales price did drop by 6.38%.However number of units sold doubled and median days on market dropped by 38.47%.Sellers received less than asking price (84%).However this was more than what they received last year.
Key Statistics, Beverly Hills, CA: Median Sales Price (-6.38%), Median Days on Market (-38.47%), and Number of Units Sold (100.00%), Sales Price to List Price Ratio (Feb 09 82% - Feb 10 84%)
Beverly Hills Real Estate
The city of Beverly Hills experienced a 6.38% decrease in median sales price from last year going down from $5,620,000 (Feb. 09) to $5,261,389 (Feb. 2010). Median days on market data for Beverly Hills show that houses are selling faster than Feb 09. It took 195 days in Feb 09 for a house to sell and for Feb 10 that number has gone down to 120 days (a 38.47% improvement). Another important factor to consider is total number of units sold. In the month of Feb 09, 9 units were sold compared to 18 for Feb 10 (100.00% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Beverly Hills. SP/LP ratio for Feb 09 was 82% compared to 84% for Feb 10.
Lets take a brief look at neighbors West Hollywood and Culver City. West Hollywood Real Estate featured a 2.11% decrease in median sales price ($870,000 Feb 09 - $851,667 Feb 10) and Culver City Real Estate saw a 9.33% decrease ($720,333 Feb 09 - $653,125 Feb 10). Are houses in West Hollywood and Culver City selling faster or slower this year? Well, West Hollywood experienced a 59.17% decrease (80 to 33 days) in median days on market and Culver City saw a 171.47% increase (31 to 83 days). In the units sold category, West Hollywood sold 1 unit more (50.00%) in Feb 2010 than 09 and Culver City sold 5 units more (166.67%) in Feb 2010 than Feb 09.
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