Beverly Hills is synonymous with luxury and prestigious living. Homes in this area sell for remarkably high amounts, and the beautiful community draws celebrities from across the globe. If you want a slice of the Hollywood dream, there is no better place to experience it than Beverly Hills. The homes here might be expensive, but they are worth every penny you spend. Why? Here is a closer look at the Beverly Hills real estate market, its people, and why living here should be on your bucket list.
Beverly Hills Luxury Real Estate
Any agent worth their salt will tell you that Beverly Hills is a luxury home market. Virtually no homes in this area sell for less than $1 million, and the median price for property here is $5.5 million. In fact, it is very normal to see listings in the 8-figure mark. In recent years, many homes have sold for between $8 million and $11 million. Most prime properties fetch upwards of $20 million.
This high price and the fierce market competition in Beverly Hills make it an excellent real estate investment. The market has been leaning toward sellers for a while now, with houses selling for way more than their listed price. Naturally, this makes purchasing a home here a very wise move. The property is guaranteed to maintain its value and sell for way more than you bought it.
But because of the levels of privacy in Beverly Hills, most properties list privately, making it difficult for outside buyers to buy them without a connected Beverly Hills real estate agent.
Luxury Homes in Beverly Hills
Luxury homes are the bread and butter of Beverly Hills. People move here for the quiet, stately homes and private estates. You can expect property in a wide range of styles, including American Colonial, Modern, Cape Code Revival, Mid-Century Modern, Traditional, and Spanish Revival. Some homes that were developed in the mid-20th century also feature more contemporary styles.
The Beverly Hills luxury market is home to some of the most popular mansions in the world. Here, you will find the 1927 Greystone Mansion, formally owned by Ned Doheny. The Tudor Revival home, which took three years to build, was worth $ 3 million in 1930. Beverly Hills is also the location of former Warner Bros. president Jack Warner’s 15-room Greek Revival mansion.
Living in Beverly Hills
A significant part of the appeal of Beverly Hills is the high levels of seclusion and privacy. This is why neighborhoods like Trousdale are home to many celebrities and high-profile individuals. In addition to state-of-the-art security systems and tall hedges and shrubs, you can expect round-the-clock security.
Beverly Hills is also home to many world-rated restaurants and high-end international brands. Residents have unfettered access to Chanel, Tom Ford, Tiffany & Co, Henry Jacques, and Cartier, to name a few stores. Shoppers will also love the famous S. Santa Monica Boulevard and Rodeo Drive.
Away from the bustle of downtown Beverly Hills, the neighborhoods are quiet, charming, green, pet-friendly, and tree-lined.
Talk to a Beverly Hills Realtor Today
It is almost impossible to get in on the fierce Beverly Hills market. But with the help of realtors Tomer and Isidora Fridman of the Fridman Group, who have sold over $6 billion worth of homes in this area, you can find your dream home. If you are considering a marquee estate, land development, branded collection, or architectural sale, they are your best Beverly Hills resource. Call them today to discuss your property needs.