Few cities captivate the imagination the way Beverly Hills does. It’s a city that has it all: astonishing views, proximity to one of the busiest international airports in the world, world-class restaurants, celebrities, and of course, multi-million dollar luxury homes.
But luxury homes in Beverly Hills aren’t like luxury homes elsewhere. In Beverly Hills, a vast estate or a chic single-family Contemporary may have been, at one time or another, the residence of a Hollywood star or an industry tycoon. Therefore, those who buy homes in Beverly Hills become part of the property’s storied legacy, as owner and custodian. New residents get to experience the pleasures of an elite home in a lifestyle befitting the most legendary of American enclaves.
If you’re in the market for a home in a community populated by some of the biggest names in pop culture and business, or if you’re simply curious about the housing stock and neighborhoods of Beverly Hills, this article is for you.
AT A GLANCE: Luxury Homes in Beverly Hills
A short history of Beverly Hills
Centuries before the arrival of European explorers, the area of what is now Beverly Hills was already prized for its fortuitous location. The Tongva-Gabrielino group of Native Americans sought out fresh water in the place where modern-day Beverly Hills Drive and Sunset Boulevard intersect. The water flowed from the canyons of Franklin, Benedict, and Coldwater. When the Spanish came, they began referring to the area as Rancho Rodeo de las Aguas.
Fast forward to 1900 when an enterprising group of real estate developers and oilmen led by Burton Green would rediscover this precious water source. Although Green and his partners initially wanted to find oil, their failed attempt led them to reorganize and establish the Rodeo Land and Water Company in 1906. Shortly after that, Green and his wife renamed the area Beverly Hills.
From 1907, a series of development projects took place, in which Canon, Crescent, and Rodeo Drive were built. The Beverly Hills Hotel opened its doors in 1912 and became the nexus of community life with activities that included church services. The buzz of these early developments reached far and wide. Newcomers took up residence and in 1914, Beverly Hills was officially incorporated as a city.
The foundations for Hollywood and the Glamor Era were being set. The charm and appeal of Beverly Hills grew along with the wealthy families, promising entrepreneurs, budding creators, and movie stars who made the city their new home. Some 107 years later, the allure of Beverly Hills hasn’t dimmed.
Overview of the housing market
Homes in Beverly Hills are some of the most coveted in the world. Properties come in various sizes, configurations, and distinct designs, with a price to match. As per 2021 market data, the median listing price of Beverly Hills homes is approximately $5.3 million. Meanwhile, the median home sales price is around $2.9 million.
Since the start of the pandemic in 2020, home prices have remained relatively stable – rarely dipping below $4 million. However, midway into 2021, that figure began steadily trending up. Observers and industry experts are keeping an eye on the numbers to see if it will continue to rise until the end of 2021 and beyond.
Moreover, unlike other markets throughout the US during the third quarter of 2021, the housing market in Beverly Hills has remained balanced. Home inventory has matched housing demand in the city. The median days on the market is 83 days.
What draws people to Beverly Hills?
It’s hard to resist the allure of legend. But Beverly Hills has consistently remained a top choice as one of the best places to live for more than just its dazzle and celebrity. Therefore, prospective homeowners may reasonably ask: what else draws people here? Below are a few compelling reasons:
- Location. Situated in the heart of the Los Angeles metropolitan area, Beverly Hills sits on a stunning area of the sprawling metropolis. To the south is the scenic Los Angeles coastline, where sand and good vibrations beckon. To the north and further inland lies the Santa Monica and San Gabriel Mountains. This awe-inspiring landscape is the backdrop of several luxury homes in Beverly Hills.
- Weather. Like the rest of greater Los Angeles, Beverly Hills has excellent weather year round. Some even say it’s near perfect. With a subtropical climate, Beverly Hills enjoys more than 280 days of sunshine every year. Rain is rare, and snowfall is non-existent. On average, the area receives about 16 inches of rain per year. With such ideal weather conditions, it’s no wonder that residents and visitors are some of the most actively engaged outdoor enthusiasts throughout the area.
- Food. Whether it’s an upscale restaurant or a local mom-and-pop place, the food selection in Beverly Hills is some of the best. Here, the variety of cuisine is endless and guaranteed to leave you with a happy stomach. If you’re partial to luxury dining, read this separate blog on the best fine-dining restaurants you’ll find in the city.
- Culture. It’s everywhere. The Wallis Annenberg Center For The Performing Arts is home to hundreds of masterful theater, music, and dance creations. The Winn Slavin Fine Art, Gagosian Gallery, and Denis Bloch Fine Art Gallery house priceless work from Warhol, Picasso, and other artists.
Neighborhoods in Beverly Hills
As the exclusive address of the wealthy and influential, Beverly Hills boasts picturesque and highly private neighborhoods. For interested homebuyers such as yourself, below is a glimpse of what awaits you.
The Golden Triangle
In the center of Beverly Hills lies the Golden Triangle, the city’s commercial core. Celebrities and A-listers go out and mingle in this see-and-be-seen environment. As do happy tourists. This is where you’ll find the iconic Rodeo Drive, renowned for its upscale restaurants, galleries and rare art, and trendy boutiques. In addition, standalone stores of luxury brands are well represented, including Chanel, Rolex, Piaget, Balenciaga, Cartier, and many more.
The outline of the Golden Triangle is delineated by three major roads: Wilshire Boulevard, Canon Drive, and South Santa Monica Boulevard. At the boundaries of this iconic neighborhood, you’ll find even more excellent restaurants and cozy cafés where you can take a break from all the shopping and sightseeing.
The Trousdale Estates
This exclusive hillside enclave has some of the best views in Beverly Hills. With the sprawling expanse of Los Angeles on one side and Franklin and Laurel Canyon to your back, the Trousdale Estates is hard to surpass. Equally as eye-catching are the Mid-Century Modern houses that sit on spacious lots. Those who prefer the highest levels of privacy and security will feel right at home here.
The community is named after Paul Trousdale, who bought the land and sold many of the lots during the 1960s. Most of the homes were built during that time, hence the Mid-Century Modern aesthetic. Expect to see tall hedges, well-manicured lawns, and watchful security personnel throughout the neighborhood.
Between Sunset Boulevard and Santa Monica Boulevard is The Flats. True to its name, the neighborhood lies in one of the flatter sections of Beverly Hills. Luxury homes and spacious estates are interspersed throughout The Flats. With its wide tree-lined streets, jogging or leisurely walks with a furry friend is particularly ideal.
Several prominent attractions can be found in The Flats. The Beverly Gardens Park hosts a bi-annual art show featuring works from local and international artists. The Beverly Hills Hotel is also within walking distance from virtually any part of the neighborhood.
South of the Tracks
The majority of homes just below Wilshire Boulevard are composed chiefly of single-family and multi-family homes. In this southern portion of Beverly Hills, homes occupy a grid-like system and sit on lots that are mostly symmetrically shaped.
Additionally, there are beautiful parks. Roxbury Park and La Cienega Park are great spots for picnics, running, basketball, tennis, sand volleyball, and a host of other outdoor activities.
Distinct architectural styles and famous homes in Beverly Hills
Some of the top names in 20th-century architecture are associated with Beverly Hills luxury homes. Paul Williams, Lloyd Wright, Harold W. Levitt, and A. Quincy Jones are names that you’ll often come across as you explore the housing market.
What’s more, since the days of Old Hollywood, famous personalities and wealthy businesspeople have been the typical buyers and sellers of these properties.
Homes in Beverly Hills come in a variety of architectural expressions. The prevalent styles include Mediterranean, Georgian, Spanish Revival, Contemporary, and Traditional.
There is a decent number of historic and prominent homes throughout the city. Below are some examples:
Edward “Ned” Doheny Jr. built this palatial estate in 1927. It took more than two years to complete the 55-room, 46,000-square-foot mansion. The heavy use of greystone and its subdued facade earned the Greystone Mansion its famous name. The sections of the home facing southward enjoy sweeping views, from downtown LA to the Pacific Ocean.
Ned Doheny, however, never got the chance to fully enjoy the home as he was shot inside the estate on February 16, 1929. His widow, Lucy, would continue living in the mansion until 1955, when she and her second husband decided to sell most of the estate. The buyer, Paul Trousdale, often leased the property to Hollywood production companies. Over time, the Greystone Mansion became a popular film location.
Today, the estate is a Beverly Hills public park where tourist activities, high-profile fundraisers, and other star-studded events are held.
Just a few blocks from downtown Beverly Hills stands the Spadena House, better known as the Witch’s House. It’s a home straight out of a children’s fairy tale or the movies. In fact, it was built specifically for a movie company during the silent film era. Movies like “Hansel and Gretel” (1923) and “Clueless” (1995) were filmed here. Oddly placed windows, a steeply gabled roof, a spooky dormer, a cartoon-like shingled roof, and a rickety look characterize this oddity.
In the 1920s, film producer Ward Lascelle, purchased the home to transform it into a livable space. Later on, ownership was transferred to his wife Lillian after their divorce. Lillian, who eventually took the last name of Spadena, sold the property in 1965 to the Green family.
While the home isn’t open to the public, you can swing by to look at the home and snap a few photos across the street. The Witch’s House is currently owned by real estate agent Michael J. Libow, who has made significant restoration work on the property.
This 1960s Contemporary in the Trousdale Estates is just one of many lavish homes in Elton John’s real estate portfolio. When John and his spouse bought the home for approximately $7 million in 2012, they were looking for a humble abode that emphasized the best of California indoor-outdoor living. The couple got pretty much what they wanted for themselves and their two young sons.
With majestic views of Beverly Hills and the city of Los Angeles, the home has spacious front and back gardens, an airy living room, a sizable eat-in kitchen, and plenty of space for the couple’s art collection. A stylish primary suite containing high-end and vintage furnishings opens to a gorgeous private terrace.
World-renowned interior designer and longtime friend, Martyn Lawrence Bullard, oversaw minor yet detailed changes. Bullard looked to the couple’s favorite artworks for design inspiration and ensured no area was too fragile for children to be in.
Quick tips when buying a piece of Beverly Hills luxury real estate
- If you’re investing in real estate, make it a home in Beverly Hills
Beverly Hills homes are some of the most expensive in the world. Once you decide to purchase property here, you’re not just buying a home for you or your family. You’re also sitting on a large investment that will significantly appreciate over time. Beverly Hills is among the top cities when it comes to real estate value appreciation. Come selling time, you’ll be more than likely to get a high return on investment
- Obtain all the necessary insurance policies
Climate change has put many homes in peril in the US and the rest of the world. Protect your investment as best you can. While a standard home insurance covers the destruction of your home from fire, hurricanes, lightning, vandalism, or other disasters, purchase additional policies for earthquakes and flooding
- Connect with the right Realtor
The glitz and the glamor of Beverly Hills can still ensnare seasoned buyers in tricky, high-stakes situations. To keep on an even keel, hire an experienced Realtor specializing in the Beverly Hills area. The right agent is your competitive advantage when it comes to navigating the ins and outs of the market with ease and expertly negotiating the best deals on your behalf. Along with eliminating the stress of homebuying and the time and effort you’ll save, hiring a Realtor is well worth their commissions
Contact the Valerie Fitzgerald Group
Find out what else is in store for you in Beverly Hills. With the team at the Valerie Fitzgerald Group, we’ll help you find the best homes in neighborhoods to match. As important, we’ll help you build the right real estate connections throughout the Westside of Los Angeles.
With seasoned agents and Realtors by your side, we at Valerie Fitzgerald Group guarantee the best deal possible to meet your real estate goals.
Why work with us?
With 20+ years of experience in the Beverly Hills luxury market, I, Valerie Fitzgerald, have successfully advised buyers and sellers in making the right investment decision.
Since I joined this industry, I’ve built a strong reputation for honesty and integrity. These values are essential in gaining access to the most valuable and beloved properties in Beverly Hills.
High-net-worth clients wanting the absolute best real estate services seek out my undivided attention and tailored solutions.
Here’s what one client said of our service:
“Hiring Valerie Fitzgerald to sell my home was the best decision I ever made! She was fantastic throughout the entire process. Her knowledge of the area combined with her out-of-the-box marketing ideas got me a price higher than I ever could have expected in a timeframe I thought to be impossible in this market. She was a true pleasure to work with and her expertise kept me and my wife at ease. Thanks Valerie Fitzgerald and group.” – Michael P