Bel Air, CA

Holmby/Bel Air

The Holmby Hills and Bel Air markets are making a powerful comeback in 2024, with average sales prices rising to $27M, a notable 33% increase from $20M in 2023. This growth brings prices back to their 2018 and 2020 levels.  

Highlights

• Average sales prices jump to $27M, matching 2018 and 2020 prices

• DOM rises slightly to 378, reflecting a more aspirational market

• Sellers achieve just 78% of the listing price, with faster sales hitting 84%

While the market is thriving, it may be slowing down

Properties are taking slightly longer to sell, with Days On Market (DOM) rising from 356 in 2023 to 378 in 2024—a modest 6% increase from the previous year but outstripping the national average. This suggests a more deliberate pace, as buyers carefully evaluate their investments in high-stakes markets Holmby Hills and Bel Air. 

Although sellers are seeing better outcomes than in previous years, in 2024, properties sold for just 78% of their listing price on average, up from 69% in 2023. While there was marked improvement year-over-year, this suggests Bel Air ultra-luxury listings are initially listed significantly above market value. For homes that sell within 180 days, this number climbs to 84%. Sellers should consider this when deciding how much time to spend on the market.