The city of Beverly Hills, with its multi-million dollar mansions and palm-tree lined streets, has long captured the imagination of the American public. It is considered among the most desirable places to live in the country for a multitude of reasons, many of which will be addressed in this space.
First, let’s take a look at the current state of the Beverly Hills real estate market. According to Trulia.com, Beverly Hills homes for sale brought a median price of $1,455,000 during a three-month period ending in November 2013. That was based on 67 sales and equates to $691 per square foot.
Somewhat interestingly, both the median sales price and average list price in Beverly Hills—which was $5,427,237—were down from a year earlier. That bucked the trend of the overall U.S. housing market, which generally saw huge price increases in 2013.
Beverly Hills homes for sale are predominantly single-family residences, but condominiums make up nearly a quarter of the 14,869 households that are located in Beverly Hills. That’s a slightly higher rate than many of the other affluent sections of Los Angeles County, and can be interpreted to mean you don’t necessarily need to be a member of the proverbial “one percent” to be a Beverly Hills homeowner.
Beverly Hills has long been known as a favored place to live among actors and other celebrities. The city was first incorporated in 1914 on the site of a former Spanish ranch by a group of investors that were looking for oil. While black gold was never found, it’s central location in Los Angeles County made it a good place to develop a new city.
Today, there are more than 34,000 residents that live in Beverly Hills. The median household income of the city is $137,481 and the average household net worth is a cool $1,016,190, according to Realtor.com. These Beverly Hills residents have access to many of the finer things in life, like the city’s luxury shopping districts that are unparalleled in the region, as well as one of the best school districts in the nation.
Since the 1970’s, one of Beverly Hills most famous attractions has been Rodeo Drive. This world famous four-block stretch of Beverly Hills is known as an epicenter of high-end fashion. It is home to such highly-sought after stores as Louis Vuitton, Coach, Chanel and many others.
As for the Beverly Hills school system, students are served by six public schools—four K-8 and two high schools—as well as several acclaimed private schools. These education centers have long been a magnet for parents with school-age children.
There is much more to explore and discover when it comes to Beverly Hills, but first you must find a home to buy. There are typically between 200 and 300 Beverly Hills homes for sale at any one time, according to online listing services. That should provide plenty of options for those looking to move to this world-class city. Feel free to begin your search by browsing the Beverly Hills home for sale on this site. You never know, your Beverly Hills dream home could be just a click away.