Beverly Hills Homes for Sale

In September 2024, Beverly Hills saw a significant surge in home prices, with the median price rising by 57.1% year-over-year to reach $3.7 million. This increase indicates robust demand for high-value properties in one of the country’s most exclusive markets, despite shifting conditions elsewhere. Homes are taking longer to sell, averaging 93 days on the market compared to 71 days last year, which may suggest that buyers are exercising more caution or that inventory is rising. Even so, the number of homes sold increased to 16 from 13 in the same period last year, reflecting steady buyer interest and activity. This combination of higher prices, longer market times, and consistent sales volume suggests a resilient demand, particularly for premium properties that make Beverly Hills a unique and enduring market.

Beverly Hills currently reflects a less competitive market, with homes generally taking about 84.5 days to sell. Multiple offers are uncommon, and on average, properties sell for roughly 5% below their list price, going pending in around 85 days. Even for "hot" homes—properties that may stand out due to location or unique features—the market isn’t exceptionally fast-paced; these properties typically sell for about 1% below the list price and go pending within 43 days. This slower market pace suggests that buyers have more time to consider their options, making it an opportune environment for those looking to explore the prestigious Beverly Hills area without intense bidding pressures.

Nationally, around 5% of homebuyers are exploring a move to Beverly Hills from other metro areas, underscoring its appeal as a premier destination for luxury living. San Francisco leads the list of external metros with the highest interest in relocating to Beverly Hills, likely drawn by its lifestyle, climate, and exclusivity. New York and El Centro follow, showcasing the diverse range of buyers—from large urban centers to smaller cities—who see Beverly Hills as an ideal place to call home. This interest highlights Beverly Hills' allure across different regions, appealing to those seeking a blend of luxury, culture, and California lifestyle.