Beverly Hills Post Office (BHPO) March 2021 Real Estate Market Update
Good news keeps coming. Although February made me a bit nervous, March showed that we are still in the sellers’ market and there is no reason to be concerned with a decline. We probably were affected by uncertainty with interest rates increase in February. Now it is over.
Right now, we have 106 homes available for sale. Inventory keeps declining steadily. If you have less than $2 million in your budget, you have only 7 homes to choose from. The most expensive listing is on Beverly Park Terrace and it is offered at $110 million.
In March 21 homes were sold, two more than in February. Price per square foot increased by $14: $1,253 compared to $1,239 in February, and it takes on average 99 days to sell a home in BHPO, which is a steady time frame. We have been around 98-99 average days on the market for a few months now.
We are in a strong sellers’ market. It is still a great time to sell!
Photo by Andrea Piacquadio from Pexels