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 September 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

$520,000

$269/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$22,000(+4.4%)

Key Takeaway

Homes in Beverly Hills have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Beverly Hills was $520,000 in September 2024, up 4.4% from last year, and the median price per square foot was $269.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $468K$313K
-33.1%
3 $401.5K$468K
+16.6%
4 $595K$610K
+2.5%
5+ $673.2K$690K
+2.5%

Summary: Beverly Hills housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 33.1%, 3 bedroom homes increased by 16.6%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 2.5%.

Median Sold Price Compared To Nearby Cities

Bingham Farms
+42.1%
Birmingham
+8.2%
Southfield Township
+7.6%
Bloomfield Charter Township
+7.1%
Beverly Hills
+4.4%

Housing Supply in Beverly Hills, MI

How many homes are available in Beverly Hills, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4336-16.3%

Summary: The Beverly Hills real estate market had 36 homes for sale in September 2024, a 16.3% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 1915
-21.1%
4 1514
-6.7%
5+ 65
-16.7%

Summary: The Beverly Hills housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 21.1%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1511-26.7%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Beverly Hills, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Beverly Hills in September 2024, down by 26.7% month-over-month. Of the 11 sold homes, 73% were sold under asking, 0% were sold at asking, and 27% 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

Sep 2023Sep 2024CHANGE
12 Days15 Days+23.6%

Summary: Homes in Beverly Hills had an average of 15 days on market in Sep 2024, up by 23.6% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were 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 September 2024, 11 homes were sold in Beverly Hills; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% 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 8 Days Ago

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