Beverlywood Area Market Update – Feb 2015

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According to the MLS, a total of 15 homes sold in the Beverlywood and Adjacent area during the entire month of January 2015 compared to 14 last month and 13 in January 2014.  The single family homes that sold took an average of 44 days, compared to an average of 37 days the month prior, and sold for 99.69% of their asking price at an average of $649.89 per sq. ft. Currently, there are only 16 Single Family homes for sale, compared to 24 last month, and 24 this time last year. The 16 For Sale single family homes have been on the market for an average of 43 days with a median price of $1,217,500 and an average of $1,288,625. The MLS shows there are currently 31 Single Family homes in escrow.    Analysis:   Typical to start the year with very low inventory.  Demand for homes in the neighborhood remains exceptionally high as the Seller’s market continues. Good news for homeowners, prices increased approximately 12% in 2014.

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