May 29, 2008

Sales Still Flat in Beverly Hills Flats

For the past week, we’ve compared Westwood, Beverly Hills and West Hollywood home sales and listings to those of two months ago. Both markets are finally starting to show signs of weakness due to the country’s economic woes. 

Sales in the Flats aren’t just flat; they’re slower than three months ago.  We’ll check back in two more months to see how things are trending during the “busy season,” but for now, it looks the immunity has finally worn off for the higher-end markets.

90211:  East Beverly Hills Flats

Single-Family Homes
For sale:  20 (14)
Average listing price:  $1,949,000 ($2,035,000)
Average days on market: 89 (79)

Sold in last 3 months: 4 (15)
Average sales price:  $1,437,000

Condos
For sale:  25 (23)
Average listing price:  $930,000 ($1,278,000)
Average days on market: 83 (80)

Sold in last 3 months: 7 (4)
Average sold price: $770,000

90212:  West Beverly Hills Flats

Single-Family Homes
For sale:  6 (4)
Average listing price:  $2,345,000 ($2,785,000)
Average days on market: 80 (129)

Sold in last 3 months: 3 (22)
Average sold price: $1,765,000

Condos
For sale:  23 (21)
Average listing price:  $1,950,000 ($1,450,000)
Average days on market: 73 (111)

Sold in last 3 months: 4 (8)
Average sold price:  $1.017,500