Submarket Snapshot: Single-family homes in Beverly Hills

The price of single-family residences in Beverly Hills fell in the fourth quarter of 2015 when compared with the same period in 2014, according to a report by The Agency.

The average home price in the fourth quarter was $6.6 million, down 7.5 percent from the average of $7.2 million in the same period a year earlier.

The average price per square foot decreased 10.7 percent from the year-earlier period to  $1,394.

The area saw 29 sales in the fourth quarter, 14.7 percent less than the 34 seen in the fourth quarter of 2014.

The median price of a home, however, increased a whopping 62 percent to $5.7 million.