Is Bel-Air, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Bel-Air was a Seller's Market.
Key Takeaway
Bel-Air is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bel-Air, CA
How much do homes in Bel-Air, CA cost?
Median Sold Price
$4,022,500
$1,042/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bel-Air have sold for 2.5% less than they did a year ago.
Summary: The median home sold price in Bel-Air was $4,022,500 in March 2024, down 2.5% from last year, and the median price per square foot was $1,042.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $918K | - | N/A |
| 2 Bedrooms | $807K | $1.1M | +44.4% |
| 3 Bedrooms | $2.6M | $2.3M | -13.9% |
| 4 Bedrooms | $4.0M | $3.4M | -15.3% |
| 5+ Bedrooms | $7.6M | $8.1M | +6.6% |
Summary: Bel-Air housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 44.4%, 3 bedroom homes decreased by 13.9%, 4 bedroom homes decreased by 15.3%, and 5+ bedroom homes increased by 6.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Beverly Glen | $2.5M | $3.1M | +23.3% |
| Westwood | $1.2M | $1.3M | +9.9% |
| The Westside | $1.7M | $1.7M | +1.5% |
| Bel-Air | $4.1M | $4.0M | -2.5% |
Housing Supply in Bel-Air, CA
How many homes are available in Bel-Air, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 75 | +21.0% |
Summary: The Bel-Air real estate market had 75 homes for sale in March 2024, a 21.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 8 | 11 | +37.5% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 36 | 43 | +19.4% |
Summary: The Bel-Air housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 37.5%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 19.4%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bel-Air, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Bel-Air in March 2024, up by 66.7% month-over-month. Of the 10 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% were sold over asking.
Days on Market for Bel-Air, CA
How long does it take to sell a home in Bel-Air, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 110 Days | 74 Days | -32.4% |
Summary: Homes in Bel-Air had an average of 74 days on market in Mar 2024, down by 32.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bel-Air are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Bel-Air; 60% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.