The Beverly Hills luxury real estate market has sprinted ahead of the competition for much of 2013, and according to a new report, it joins Manhattan in New York City as one of the top of the top luxury real estate markets in the United States. Amid the real estate recovery, luxury home sales in the U.S. have been increasing in a variety of cities, but here in Southern California, when it comes to the king of sales, Beverly Hills luxury home sale reign supreme.
Real estate experts point out that there has been an influx of ultra-wealthy home buyers, many of whom are foreign, bringing their money to the U.S. Part and parcel of this was the real estate recovery that started to take shape in early 2013, not to mention the fact that many saw the potential for their currency to buy more here. Historically low interest rates also prompted many luxury home buyers to bet on the Beverly Hills luxury real estate market, and with prices rising precipitously for much of 2013, their gamble seems to be paying off.
In California, the Beverly Hills luxury real estate market has surpassed all other areas in this niche market, with many homes trading hands that are priced north of $10 million. In fact, through June, close to 20 Beverly Hills luxury homes sold for more than $10 million in the 90210 ZIP code alone. Known as the ‘Platinum Triangle,’ the Beverly Hills luxury real estate market has always attracted buyers who are interested in living a first-class lifestyle.
Nearby, you have the eponymous Rodeo Drive that is lined with some of the priciest shops and brands in the world. And many of the adjacent streets are filled with five-star eateries where you can frequently spot Hollywood’s A-list clientele. The seclusion and privacy are also a huge draw for many luxury home buyers who focus their search on one of the many gated luxury communities that dot Beverly Hills. Beverly Hills luxury homes abound throughout the ‘Platinum Triangle,’ which is one of the main reasons why it has surpassed all other affluent Los Angeles real estate markets.
The most expensive property that was sold within the last year was actually not located in Beverly Hills proper, but in nearby Bel Air. The massive estate sold for a whopping $53 million, but that price tag has already been eclipsed by another Los Angeles luxury home that is priced at $75 million. Known as “Singleton House,” the colonial style home is located in Holmby Hills and offers 10 bedrooms, 12.5 baths on 7 acres. Wallace Neff, an architect credited with designing many Beverly Hills luxury homes, is the man behind the most expensive house currently listed for sale.
For assistance with all of your Beverly Hills luxury real estate needs, please contact our team of luxury property experts. We specialize in Beverly Hills luxury homes and we would love the opportunity to show you this exclusive part of Los Angeles.
Homes in Beverly Hills, California between $6,000,000 and $7,000,000
$6,250,000 : 515 N SIERRA Drive, Beverly Hills0 beds, 0 bath
$6,295,000 : 513 N BEDFORD Drive, Beverly Hills4 beds, 4 baths
$6,295,000 : 605 N REXFORD Drive, Beverly Hills3 beds, 3 baths
$6,395,000 : 2500 BRIARCREST Road, Beverly Hills4 beds, 6 baths
$6,399,000 : 519 N ROXBURY Drive, Beverly Hills6 beds, 5 baths
See all City of Beverly Hills Luxury Homes For Sale.
(all data current as of 10/22/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.