A Red Hot Real Estate Market!
As we all know, the market is heating up. Many properties are back into multiple offers and selling over asking. This shows signs of a hot real estate market and it is definitely the time to buy if you have been considering, before prices go up any further. The Beverly Hills condo market, although not affected too bad during the downturn, has seen incredible growth over the last few years. Over the last 30 days over 10 condos have sold, with only 40 condos being active for sale, this is great. The average selling price was 88.11% of the asking price. The days on the market are roughly 60 days, and that includes the average 30 day escrow, making their time on the market more like 30 days or less. The average price per square foot is about $960.00. For single family , there were 15 sales in the last month. The average sale price was $4,600,000, which includes the lower end homes under 2 million, selling for 93.37% of their asking price. The largest sale was $11.8 million. Not