Editor’s note: Real estate expert Joyce Rey talks about Beverly Hills, California real estate during the 3rd quarter of 2020 in this Q&A with Haute Residence.
How did the third quarter of 2020 real estate perform in Beverly Hills?
The third-quarter was very good, however the fourth-quarter promises to be record-breaking when comparing 2020 sales volume year to date to 2019.
Photo Credit: Jim Bartsch Photography
Photo Credit: Jim Bartsch Photography
How has your market been doing so far this year compared to this time last year?
Westside sales are well ahead for properties in excess of $5 million+ up 12%, for properties $10 million+ up 26%, and for properties $20 million+ up 50%! Due to low inventory, there has been pressure on pricing as well. We currently have a real seller’s market with considerable demand!
Photo Credit: Jim Bartsch Photography
Photo Credit: Jim Bartsch Photography
Do you expect a more or less active 4th quarter for this year than previous years?
There’s a very high demand for properties right now, and I think it will be a fantastic fourth-quarter. So many people are looking to make a move because of COVID and a strong desire for a more comfortable home/work life.
Photo Credit: Jim Bartsch Photography
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