The Real Deal Los Angeles

Submarket Snapshot: Homes in Beverly Hills in Q1 2016

The average sale price dropped 8 percent

May 10, 2016 04:49PM
By Hannah Miet

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Home Prices 1187 North Hillcrest Road $135 million Beverly Hills

The estate at 1187 North Hillcrest Road in Beverly Hills, listed for $135 million

In Beverly Hills, the sales volume for single-family homes valued at over $1 million advanced by one third during the first quarter, according to a luxury real estate report by the Agency. There were 40 luxury homes sold. 

The average sale price dropped 8 percent when compared with the same period a year ago, to $5.50 million.

Median sale price remained steady around $4.27 million, while average valuation dropped 3.7 percent from a year ago, to $1,295 a square foot.

There were 29 condos sold during the first quarter, the same amount sold in the first quarter of 2015.