Is Beverly Hills, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
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
How much do homes in Beverly Hills, MI cost?
Median Sold Price
$472,500
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
The sold price of homes in Beverly Hills has remained the same since last year.
Summary: The median home sold price in Beverly Hills was $472,500 in August 2023, up 0.3% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $580K | N/A |
| 2 Bedrooms | $281.2K | $468K | +66.4% |
| 3 Bedrooms | $385K | $399.9K | +3.9% |
| 4 Bedrooms | $625K | $590K | -5.6% |
| 5+ Bedrooms | $540K | $673.2K | +24.7% |
Summary: Beverly Hills housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 66.4%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 24.7%.
Median Sold Price Compared To Nearby Cities
| Birmingham | $600K | $701K | +16.8% |
| Bloomfield Charter Township | $523.7K | $549.1K | +4.9% |
| Beverly Hills | $471K | $472.5K | 0.3% |
| Bingham Farms | $471K | $440K | -6.6% |
| Southfield Township | $463.1K | $274.2K | -40.8% |
Housing Supply
How many homes are available in Beverly Hills, MI?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 48 | 47 | -2.1% |
Summary: The Beverly Hills real estate market had 47 homes for sale in August 2023, a 2.1% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 23 | 28 | +21.7% |
| 4 Bedrooms | 17 | 11 | -35.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Beverly Hills housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 21.7%, 4 bedroom homes decreased by 35.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Beverly Hills, you could pay more than the asking price. 64.7% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Beverly Hills in August 2023, down by 10.5% month-over-month. Of the 17 sold homes, 24% were sold under asking, 12% were sold at asking, and 65% were sold over asking.
Days on Market
How long does it take to sell a home in Beverly Hills, MI?
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 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 August 2023, 17 homes were sold in Beverly Hills; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.