Is Beverly Hills 90210 still a good investment?

Hava Simchon — Fri, 03 Dec 2010 19:56:20 +0000

Beverly Hills attracts people from all over the country and the world who have a curiosity about its glam lifestyle, notable architecture, lavish estates, high end shops, elegant hotels and top notch restaurants. There are as many reasons to visit as there are to buy a luxury home. Most people who want to live here want to buy a property in the flats which is north of big Santa Monica and south of Sunset Blvd. If you don’t live in the flats, but in one of the other neighborhoods, then you are probably waiting for the day when you can move into the most prestigious zip code – Beverly Hills 90210. But even in the 90210 zip code buyers have their favorite streets and a favorite block. Why do so many people want to own real estate in Beverly Hills ? For some it’s being close to family and friends. For others its getting their children into Beverly Hills schools seen as a pathway to Ivy League universities. And for others, there is the perception that even during a downturn properties will hold their value here and be a sound investment long term. Beverly Hills people love the glamorous lifestyle and a big part of that lifestyle is having a home with a prestigious address. According to the Los Angeles Westside MLS, todate 32 homes sold this year in the flats with a low of $2,796,000, a median of $3,726,000 and a high sold price of $9,300,000. Average price per square foot is $858.00. Last year at this time 34 homes sold with a low of $2,700,000, a median of $3,760,000 and a high sold price of $10,000,000. Average price per square foot was $882.20. The average list price to sold price ratio is higher this year at 93.64% which is 4.9% higher than last year- a positive trend for buyers and sellers looking for long term stability.

Hava Simchon's Beverly Hills CA Real Estate Blog

Is Beverly Hills 90210 still a good investment?