Nine-O-Two-One-OH! No Housing Crisis in Beverly Hills

The other day I blogged about a real-estate agent’s claim that homes in and around Beverly Hills are selling at a healthy pace, as though the housing slowdown didn’t exist.  She wasn’t just blowing smoke.  A look at sales in the infamous 90210 ZIP code shows that plenty is selling there, even in the last three months:beverlyhillssign.jpg

Single-Family Homes
For sale:  176
Average listing price: $3,562,500
Average listing square footage: 3,114
Average listing price/sq. foot: $695

Sold since 12/15/07: 79
Average sold price:  $2,225,000
Average sold square footage: 4,217
Average sold price/sq. foot:  $863

Condos
For sale: 68
Average listing price: $844,000
Average listing square footage:  1,308
Average listing price/sq. foot:  $614

Sold since 12/15/07: 31
Average sold price:  $875,000
Average sold square footage: 1,702
Average sold price/sq. foot:  $554

It looks like condo sales are especially strong, with asking and selling prices closely aligned.  There’s a little more of a disconnect between listing price and sold price on homes, but $2.2 million is still a huge price to pay for a house.