Beverly Hills Real Estate Market Heating Up
The Beverly Hills real estate market is showing definite signs of heating up, according to noted Beverly Hills luxury real estate expert Joyce Rey, who’s been seeing a rise in the number of home sales since the start of the year.
“Both buyers and sellers are becoming more confident about the Beverly Hills real estate market and the economy as a whole,” says Joyce, “Some of the more sought-after properties have even received multiple bids, which is something that would have been virtually unheard of just a few months back. Also, the inventory has been going down and sellers have become more aware about market realities and are pricing their homes to sell.”
Recent figures from Trulia show that home sales from February to April of this year increased by 3.9% as compared to the same period in 2011. The New York Times and The Wall Street Journal have also recently released articles stating that the inventory is down in the Los Angeles area as a whole. The WSJ reports that L.A. has had a change in inventory of -20.8% in the first quarter of this year; while according to Redfin, as of March the Beverly Hills real estate market inventory is down by 29.8% year over year. Consistent sales for Coldwell Banker offices in Beverly Hills are showing a 25% sales increase year after year.
Find out what Beverly Hills properties have yet to be snatched up—visit JoyceRey.com and schedule a consultation with Joyce and her team today.