Is Beverly Hills, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Beverly Hills is a seller's market

Buyer's
Market

Difference Since February 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

$510,000

$248/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$48,750(+10.6%)

Key Takeaway

Homes in Beverly Hills have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Beverly Hills was $510,000 in February 2024, up 10.6% from last year, and the median price per square foot was $248.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $580K-
N/A
2 $362K$447.4K
+23.6%
3 $400.5K$425K
+6.1%
4 $595K$593.5K
-0.3%
5+ $615K$681.1K
+10.7%

Summary: Beverly Hills housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.6%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 10.7%.

Median Sold Price Compared To Nearby Cities

Birmingham
+20.5%
Bloomfield Charter Township
+12.0%
Beverly Hills
+10.6%
Southfield Township
-23.4%

Housing Supply in Beverly Hills, MI

How many homes are available in Beverly Hills, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2530+20.0%

Summary: The Beverly Hills real estate market had 30 homes for sale in February 2024, a 20.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 67
+16.7%
3 1111
0.0%
4 78
+14.3%
5+ 14
+300.0%

Summary: The Beverly Hills housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 300%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
990.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Beverly Hills, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.

Summary: A total of 9 homes were sold or pending in Beverly Hills in February 2024, the same as the previous month. Of the 9 sold homes, 33% were sold under asking, 44% were sold at asking, and 22% 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

Feb 2023Feb 2024CHANGE
168 Days30 Days-82.1%

Summary: Homes in Beverly Hills had an average of 30 days on market in Feb 2024, down by 82.1% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Beverly Hills are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 9 homes were sold in Beverly Hills; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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