Beverly Hills Real Estate: The Continuation of a Seller's Market

Beverly Hills real estate, as in the case of many areas of California, exhibits what is known in the real estate world as a \"Seller's Market.\" A Seller's Market occurs when there is a very low inventory of homes. In other words, there are few houses on the market and many buyers who want to buy these homes. This allows for the continuation of housing prices to rise and rise, an occurrence that is known as appreciation.

Liz Cooke, a writer for Realty Times reported on the 9th of March that the Beverly Hills Seller's Market trend continues. Prices remain strong and continue to appreciate. According to Cooke, there were only fifty five homes sold in the past month with the average price of $1,372,005. These homes were on the market for an average of 95 days. Prices of homes in the Beverly Hills area range from $500,000 to $10 million.

Beverly Hills covers only 5.7 square miles of the Los Angeles area and has a population of approximately 32,000 people. Considered one of the safest areas in California, Beverly Hills residents enjoy the best libraries, schools, recreational activities and health care. Beverly Hills also offers shopping galore on streets such as the famous Rodeo Drive.

With amazing amenities and a beautiful climate, Beverly Hills real estate is predicted to continue appreciating. The Seller's Market is expected to continue as more and more people want to take advantage of beautiful Beverly Hills!