Is Beverly Hills, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Beverly Hills has remained a Seller's Market.
Key Takeaway
Beverly Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Beverly Hills, MI
How much do homes in Beverly Hills, MI cost?
Median Sold Price
$515,000
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Beverly Hills have sold for 12.2% more than they did a year ago.
Summary: The median home sold price in Beverly Hills was $515,000 in May 2024, up 12.2% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $580K | - | N/A |
| 2 Bedrooms | $362K | $327K | -9.7% |
| 3 Bedrooms | $385K | $445K | +15.6% |
| 4 Bedrooms | $597.5K | $595K | -0.4% |
| 5+ Bedrooms | $673.2K | $687.2K | +2.1% |
Summary: Beverly Hills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.7%, 3 bedroom homes increased by 15.6%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 2.1%.
Median Sold Price Compared To Nearby Cities
| Bloomfield Charter Township | $520.9K | $599.4K | +15.1% |
| Bingham Farms | $451K | $515K | +14.2% |
| Beverly Hills | $459K | $515K | +12.2% |
| Birmingham | $663.4K | $741.1K | +11.7% |
| Southfield Township | $250K | $265.7K | +6.3% |
Housing Supply in Beverly Hills, MI
How many homes are available in Beverly Hills, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 40 | +29.0% |
Summary: The Beverly Hills real estate market had 40 homes for sale in May 2024, a 29.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 14 | 16 | +14.3% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Beverly Hills housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 18 | +80.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Beverly Hills, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Beverly Hills in May 2024, up by 80.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 28% were sold at asking, and 44% were sold over asking.
Days on Market for Beverly Hills, MI
How long does it take to sell a home in Beverly Hills, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 8 Days | -41.6% |
Summary: Homes in Beverly Hills had an average of 8 days on market in May 2024, down by 41.6% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Beverly Hills are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Beverly Hills; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
