2011 Beverly Hills MI Home Prices UP 8.9%!

Good things happened last year in the Village of Beverly Hills Michigan real estate market. While the number of homes sold remained basically unchanged with 167 homes transacting, average prices headed up to $214,585 in 2011, an 8.9% improvement over the average price of $197,066 in 2010.

Also improving was average days on market, with a decline from 116 in 2010 to 103 in 2011.

Average price per square foot increased from $99.89 to $108.46.

The most expensive transaction in the Village of Beverly Hills in 2011 was at $505,000, and that is the only statistic that fell short of 2010 numbers, when the most expensive home sold transacted at $565,000.

From many agents and buyers’ perspectives there was actually a shortage of inventory on the market in 2011, which helped to push up prices. We see this trend continuing into 2012.

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