Median Sale Price
Median Sale Price per Sq. Ft.
Total Homes Sold
Dyas on Market
Sale-to-List Price
Homes Sold Above List Price
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.
Whether you're looking for a luxury estate or a serene retreat in Bel Air, we're here to help. With market conditions favoring buyers, now is the perfect time to explore your options. If you have any questions about the neighborhood, market trends, or available properties, don’t hesitate to reach out. Our team is ready to guide you through every step of the process and help you secure the perfect home at the right price. Contact us today to get started!
Thinking about living in Bel Air? Explore our in-depth neighborhood guide to uncover everything this prestigious community has to offer. From luxury real estate and market trends to lifestyle highlights, we’ve got all the insights you need. Whether you're searching for your dream home or just curious about the area, start your journey here. Browse the guide now!
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