As of February 2025, home prices in Bel Air saw a significant 23.5% increase year-over-year, reaching a median price of $5.1 million. Despite this surge in value, homes are taking longer to sell, with an average of 172 days on the market compared to 108 days in the previous year, indicating a shift in buyer behavior or market dynamics. However, sales volume remained steady, with 21 homes sold this February, slightly up from 20 last year, suggesting that demand for high-end properties in Bel Air persists even as transaction timelines extend.

Bel Air remains a relatively non-competitive market, with homes typically selling in about 127 days. Multiple offers are uncommon, and most properties close for approximately 8% below the listing price. Even well-positioned "hot" homes, which attract more interest, still tend to sell for around 3% below the asking price and go pending in roughly 55 days. This extended market time suggests that while demand exists, buyers have leverage in negotiations, and sellers may need to adjust pricing strategies or offer incentives to attract serious buyers.

As of February 2025, Bel Air remains a buyer’s market, indicating that the supply of homes exceeds buyer demand. This dynamic gives buyers more negotiating power, often leading to lower sale prices and longer time on the market. With homes typically selling for about 8% below the list price and taking an average of 127 days to go pending, sellers may need to be more flexible with pricing or offer additional incentives to attract buyers. While demand exists, the slower sales cycle suggests that buyers have the upper hand in negotiations, making it an opportune time for those looking to purchase in Bel Air.