Q1 2024 REPORT
Winter Market
Update
Update
BEVERLY HILLS & BEL AIR LUXURY MARKET
Victoria Sterling
LUXURY ESTATES
$5.8M
MEDIAN PRICE
↑ 12.4% YoY
89
HOMES SOLD
↓ 8.2% YoY
42
DAYS ON MARKET
↓ 15 days
KEY MARKET INSIGHTS
Luxury inventory remains tight with only 3.2 months of supply in the $5M+ segment
Multiple offer situations increased by 28% for properly priced homes
New construction permits up 15% signaling confidence in the market
Cash buyers represent 45% of transactions in the luxury segment
"The luxury market remains resilient. Well-priced properties in prime locations continue to attract serious buyers despite broader economic uncertainty."