Beverly Hills Housing Market Trends
If you are thinking about moving to Beverly Hills, you are one of many at the moment. In July 2021 alone, property prices dropped by more than sixty percent compared to the previous year. This attracted a significant number of buyers. Does the luxurious lifestyle appeal to you, too? Is the famous shopping district Rodeo Drive calling your name? How do you feel about the idea of celebrities all around you? If this sounds attractive, Beverly Hills is the right place for you. To know when the best time to buy is, it is essential to follow the Beverly Hills housing market trends. They will lead you to what works best for your needs and your budget.
Are the current Beverly Hills housing market trends justified?
Without a doubt, this city ranks as one of the most expensive in California. Following suit, real estate is continually one of the most expensive in the USA. With the median property price of almost $3 million, it most certainly earns those bragging rights. Needless to say, Beverly Hills is all about status. If you want to live in the midst of it all, this is, without question, the place to be. Even though it is not right next to the beach like, for instance, Malibu, it boasts some of the most amazing restaurants, all the high-end hotels, and the best designer shopping.
Although COVID-19 has shaken real estate trends worldwide, this particular market stays pretty steady regardless of the noticeable drop in the summer months of 2021. Beverly Hills may have some more affordable real estate options that remain way above $1 million. However, the higher-end homes will list for more than a whopping $100 million. Despite this, there is never a lack of demand when it comes to property in this city.
Why live in Beverly Hills?
This city needs no introduction. No matter where in the world you come from, chances are you have heard of Beverly Hills. It is so prestigious, and pretty much everyone who is anyone would love to have a piece of it. And it is not about privacy, views, or size. It is all about location. People buy some exceptional properties here, but not many are famous for their colossal square footage. Since it is so popular, naturally, there cannot be that much space to spread around. However, this is not an issue for most who want to live. They are well aware of what they are signing up for.
Glamour, luxury, status, the nightlife, and the proximity to everything that matters in this part of California. For those seeking a more modest lifestyle, this city might seem quite pricy. Prices like utilities, groceries, and gas are significantly higher than the national average. But this is naturally the case with most of the cities in the US with such demand and reputation. Their popularity raises the prices, and those who wish to live there are aware of what they are signing up for—and can afford it.
Is it the right time to buy property in Beverly Hills?
Although there was a slight drop in property value at the beginning of 2021, this only had to do with the current pandemic. The market quickly recovered since there was a staggering number of offers for the listed properties at the time. The Beverly Hills housing market trends are rarely significantly shaken. The trends are not seasonal and are typically steady.
If you plan to buy property in this city, prepare yourself for very little room for bargaining and ensure a competitive offer. The property might slip through your fingers if you wait too long or set the price too low. In addition, there are several things to remember when buying a home, so make sure to keep those in mind. And if you are moving to Beverly Hills from a different state, the home buying process in California might be a bit challenging for you, so make sure to familiarize yourself with all the rules.
Moving into your new home
Once you decide to move to Beverly Hills, you will need to think about many details and organize many important things. To make it easier for yourself and your loved ones, it is a great idea to hire an experienced crew from the area to assist you in this process. Professional movers are well versed and will turn a task that is stressful to you into a piece of cake. They can pack, organize, categorize and move all your personal belongings and valuables.
Also, if you own some large furniture, mirrors, or a grand piano—you are in safe hands. The moving company will know exactly what to do. They will transport all your valuable pieces safely to your new home in the fantastic Beverly Hills.
Need help unpacking? Not a problem with a professional crew
You are finally in your new home, all the hustle and bustle are finally over, and then you realize—you need to unpack. It seems like an even bigger undertaking now than initially packing everything and moving out. Just when you feel like you are done, and all you want to do is put your feet up and unwind, you actually can’t. Everything is still in the boxes. With the help of your trusted movers, you can unpack all your possessions with ease. Kick back and relax while they take care of everything for you. While you would probably start losing patience by day two, they will know exactly how to do it in the most practical way possible.
The takeaway Following Beverly Hills housing market trends may lead you to your dream home. Ensure you do all the research as this might end up being the best decision of your life. Wherever and whenever you end up in Beverly Hills, you will certainly not be disappointed.