It is always recommended that you are knowledgeable about the area, including any trends, recent sales, price point and amenities, especially if you are looking to buy in a new or unfamiliar area. Partnering with a local Beverlywood real estate professional can ensure you’re up-to-speed on the local market, and can guarantee that you’re staying abreast of opportunities that are available to you in the market. It’s also a great idea to stay immersed in the community.
Imagine using the experience and years of knowledge of your agent and bringing that together with your own personal knowledge. Not only will you have a better understanding of the area you want to purchase in, but you’re able to really pinpoint the perfect spot for your needs. Also, you will be more comfortable with not only me, but your purchase decision. Take a look at these real estate trends and local sales in Beverlywood.
Beverlywood Real Estate Trends
Beverlywood is a neighborhood area with a charming feel and small town ambiance. Surrounded by local parks, boutiques, eateries and views of beaches and mountains, Beverlywood is a highly sought after area for families in the West Los Angeles area.
It is important to note that the housing market in California is unique. When there’s a boom in the real estate market, the entire state feels the effects of it and it is central to California’s market. While California’s housing market didn’t perform spectacularly at the end of last year, signs still showed promise for 2015 and so far those signs have been accurate and it’s good to be excited.
As of April 2015, the California Association of Realtors’ market update again shows promise to our local market. The median home price in Los Angeles County for April 2015 was $426,580, while for the state as a whole was $481,760. The year to date figures show a 4.9 percent increase for the county and a 7.4 percent increase for the state.
Currently, home prices are on the rise. This is even true on the national level with home prices increasing by 5.7 percent, according to a report released by CoreLogic. The report also states that home prices grew more than 5 percent from the previous year. and the West coast seeing an increase of 8.5 percent in the number of homes sold.
Beverlywood Real Estate Sales
Homes in Beverlywood are extremely attractive to buyers making the area highly sought after. You’ll find various styles and designs ranging from smaller traditional designs to large Mediterranean inspired estates. Depending on the size and condition of the home, prices can range from a few hundred thousand to prices exceeding a million.
The median list price in Beverlywood is $1.6 million with an average sales price of $1.15 million. In May 2015, there were 18 homes for sale and 18 homes sold in Beverlywood with a median list price of $1,688,000. You can learn more about the current value of your home here.
A unique trend that has recently breached the surface in California housing designs are the addition of basements to add square footage without running into issues with the anti-mansionization ordinance. Since the basement space would be exempt, this allows many homeowners to add square footage and new buyers seem to be expecting it. Now, I don’t mean a dark basement where you plan to house boxes of photo albums, but luxury living space–they are fully integrated into the living spaces above. Some of these luxury basements include theaters, bars, wine rooms, gyms, or even guest space. Whatever you can think of, I’m quite sure someone is doing it, or trying to figure out how to.
If you are searching for a luxury community that’s able to still maintain it’s small town neighborly feel, consider taking a look at the beautiful homes in Beverlywood. Along with incredible weather year round, an excellent school system and the Beverlywood Homeowners Association, it is a true experience to live here.
When you’re ready to explore Beverlywood, give me a call today and let me show you what this wonderful area has to offer. I can also show you Beverly Hills houses for sale, if you would also like to look in a surrounding area. Learn more about me and how I will be able to buy or sell your next property. Make contact with me today.