90210 is a coveted zip code. It means living a glamorous life in Hollywood, with all its luxury houses and prestigious restaurants that cater to movie stars! There was even a TV show with it as the title. This zip code means you live in Beverly Hills, California. An urban city filled with luxurious houses, top-grade restaurants, and rows of designer stores. But what few know is it also has a lot of great public schools and quiet neighborhoods.
In 2021, the Beverly Hills real estate market still sells high. Home prices are up by 53.7%. The city still holds its luxurious branding even amidst a pandemic. Everyone wants to live in 90210, but not everyone can afford it.
Quick Facts:
- Beverly Hills is an exclusive part of California
- It has an estimated population of 33,274
- The average salary is $67,947
- The median sale price is $4,150000
- Housing expense is 533% higher than in other cities
Beverly Hills, CA in a Nutshell
The city may be one of the most luxurious places in the United States. The cost of living is also very high. But there are a lot of pros in living in Beverly Hills. It is actually a great place to raise kids. There are a lot of open spaces and amazing public schools as well as entertainment options. One won’t get bored in Beverly Hills.
The weather is great too. It is always warm to moderate heat in sunny California. So if one has the budget to live in Beverly Hills, the answer is why not?
Opportunities
There are a lot of opportunities for jobs in Beverly Hills. The biggest industries in the city are scientific and technology services, health care, and manufacturing. In 2019, the average employment rate was 16,000 people per year.
The career opportunities in Beverly Hills have been growing, but it is a matter of median salary ranges to survive in this expensive city.
Entertainment
One will never get bored with Beverly Hills. There is always a new restaurant to eat at, a new star to spot, or a park to chill at.
It is also the home of a lot of tourist attractions, such as the Los Angeles Museum of Art, Beverly Gardens Park, and of course, the Hollywood sign. Not to mention Rodeo Drive, a place to see and be seen.
Real Estate in Beverly Hills, CA
The real estate market in Beverly Hills is not very competitive. Getting various offers in listings is not often. Average homes sell for about 2% less than their asking price. And these listings are up in the market for at least 50 days on average.
Houses that are hot in the market are on the list for at least 30 days, and it sells just 1% above the asking price. There are a lot of open properties to sell in Beverly Hills, but the demand is quite low. But for real estate agents who want a challenge and want to live in the 90210, this is a great opportunity to create a name for themselves and make the market more competitive.
Bottom Line
Beverly Hills is an expensive city to live in and to invest property in. The best thing to do is to sell to the right clients. These are retirees or young career professionals who have the money to invest in 90210. The pros of having great public schools, open areas, and a lot of activities around the home won’t make it hard to sell the city.
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