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Beverly Hills has lot to offer. It is a world class city that offers dining, shopping, and entertainment. Not only that, it has the unique properties. There are high-tech Architectural homes, Mediterranean, French Colonial and a whole lot more. It is a worth driving experience if you are interested in beautiful homes and those wonderful architecture.
What’s going on with the local market luxury place? When I say local market luxury place, I’m talking about Los Angeles Luxury Real Estate Beverly Hills, Bel Air and Holmby Hills and what we called the platinum triangle of the west side of Los Angeles.
Things are very different today, from a couple of years ago. Things have change. They have a tremendous amount of sales right now from $10 million dollar to a $100 million dollar range. There are house that are $74 million, other homes are in 10, 30, 40 million dollar range that are all selling.
Not only is that, these houses getting multiple offers within 2 or 3 days. Primarily with all cash buyers. So it’s a very interesting dynamic that we see right now and it’s a very great opportunity. Sales are up about 15-16%, market time is down, inventories going down.
There are a lot of houses that are hot in the market in Southern California, particularly in the Los Angeles Luxury Real Estate Beverly Hills market place. So what is it that we are really seeing? We see a lot of foreign buyers, a lot of people are really bullish on the luxury market place in Los Angeles. There are numbers of foreign nationals that are purchasing a very large major estate in Los Angeles to tear down and built or to renovate. Which is very interesting and fascinating.
