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The Beverly Hills real estate market is very much a buyers' market at present, except in the under $2M single family homes niche. There is a 13 month inventory at the high end of condos and an10 month inventory at the high end of single family homes.  6 months inventory represents a balanced market. 

The median price remains steady.

The May statistics below reflecting Beverly Hills housing market  are taken from the MLS and are for single family homes only.  They do not include condos, income property, or private sales.

May figures for Beverly Hills are down.  The median price and number of homes sold are down$2.750M in April and $2.676M in May. Days on the market for homes sold is down by 10%, but the months supply of inventory is up by one and a half months to 10.5 making it an extremely poor sellers' market..  There are 21% more homes under contract.  May was a pretty sluggish month for Beverly Hills sales.

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Single Family Open Houses in Beverly Hills,  Sunday, May 9th - 2:00 - 5:00 p.m.

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The Beverly Hills Housing Market statistics below are taken from the MLS CLAW.  They are for single family homes only and do not include condos, income property and private sales.

Although at first glance, the figures look gloomy, median price and median price listed vs median price sold, can be skewed unrealistically by overpriced multi-million dollar homes selling for less than asking, or one month a huge difference in the highest priced home over the next.  But if you look closely, the number of homes sold is steady, homes under escrow are up significantly and the months supply of inventory has dropped dramatically.

Beverly Hills is not your average housing market, so it is difficult to follow the trend, especially at this time.

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The Beverly Hills home sales statistics below are taken directly from the MLS and are for single family homes.  They don't take into consideration condos, income property and private sales.

8 properties sold in February, the same as in January '10 but 4 more than in February '09.  The most expensive was $16,500,000 and the least expensive was a mere $3,162,000.

The median price of $9,400,000 is way up from $1,687,500 in January, and $3,200,000 in February '09.

Days on the market for sold listings was 115, up from 98 in January, and 141 in February '09.

There has been little change in the Beverly Hills market over the last two months, except for the price of the homes sold.

The Beverly Hills home sales statistics below are taken directly from the MLS and are for single family homes.  They don't take into consideration condos, income property and private sales.

8 properties sold in January '10 up from 2 in January '09 and down from 12 in December '09. The most expensive was $3,575,000  and the least expensive was $1,180,000.  Both were in the flats.

The median price of $1,687,500 down from $2,413,500 in January, 09 and $2,465,000 in December '09.

Days on the market for sold listings increased to 98 against January '09 and decreased from 110 in December '09.

January is usually a slower month and we wait with interest to see the monthly trends.

Beverly Hills homes are among the most expensive in the country, most of them north of Santa Monica Boulevard and up into the hills.  The flats of Beverly Hills, south of Santa Monica is a mix of single family homes, condos and multi-unit properties

The statistics below are taken directly from the MLS and are for single family homes.  They also don't take into consideration condos, income property and private sales.

12 Listings sold in December '09 up 100% over December '08. The most expensive was $13,000,000 in the hills, and the least expensive was $1,238,050 in the flats.

The median price of $2,465,000, up almost 20% over December '08.

However the days on the market for sold listings increased by over 100%.

Overall, the Beverly Hills market remains steady.

Below is a breakdown of last month's housing activity in Beverly Hills.

The median price of homes in Beverly Hills has increased by 123%

The number of properties sold has increased 55%

The properties on the market in any given month where a buyer could have written a first position offer to purchase it at any time during that month.  Different from Months Supply of Inventory below.  The number has increased 3%.

The number of properties going into contract on any given month shows the sales activity.  This has increased 108%.

These figures show how long it would take to sell the present inventory based on the present monthly sale rate. The number of properties on sale on the last day of the month is the remaining inventory.  This figure is divided by current sales rate for the month as determined by the number of properties going under contract.  This shows buyer actitivity.  Some calculations take into account the number of closed sales in a month.  The figure has decreased 56.2%

This chart reflects the number of new listings coming on the market during the month in question.  This figure is down 2%

This indicates the sales velocity for any given month, i.e. how long they will remain on the market until they sell. Properties that went under contact are counted.  All the various days on the market are counted and then divided by the number of properties involved to arrive at the average figure.  The number of days has increaed 62%.  This could be due to overpricing or the difficulty in obtain a mortgage.

Beverly Hills (90210, 90211, 90212, 90213) is a fully incorporated city in the heart of Los Angeles.  As an incorporated city it has its own government, police, school district, public services, etc. An annexation proposal to the City of Los Angeles was defeated in 1923 and Beverly Hills remains independent to this day.

Beverly Hills was officially "opened" in 1906 and named after Beverly Farms in Beverly, MA.  Construction on the famous Beverly Hills Hotel, home of the famous Polo Lounge was started in 1911. Movie stars started to build their homes there, and a tour of the stars homes is an industry by itself.

It has some of the largest home in the country, from huge mansions to more modern homes, condos and apartment buildings.  The further south you get the less expensive it becomes. North of Sunset Boulevard into the hills are the most expensive, and everything south of Sunset is referred to as "the flats".  The next division is Santa Monica Boulevard which creates the sections known as "north or south of the tracks".  As you get south of Wilshire Boulevard, homes become more affordable and that is where you will more find more of the duplexes, condos and apartment buildings. Except for the Beverly Hills Hotel, all businesses in the city are located south of Santa Monica.

Surprisingly, Beverly Hills, does not have the wealthiest zip codes in the U.S. or California.  The wealthiest zip code in California is 94027 in Atherton California, and the wealthiest zip code in the U.S. is 10022 in New York City.

The most well-known street in the City is Rodeo Drive with more than 100 world-famous boutiques, restaurants and hotels.

City Hall is built in a Spanish Renaissance style.

Beverly Hills High School is one of the most decorated high schools in the country and many parents try to get residence in the city for that reason.

Beverly Hills School District as a whole has a great reputation.

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Some useful local links are:

Official Website of Beverly Hills

Beverly Hills is located in California's 30th Congressional District, represented by Henry Waxman