Editor's Note: Jeff Hyland talks about the Bel-AIr real estate market performance in 2020 in this Q&A with Haute Residence.
67 Beverly Park, Beverly Hills
Photo Credit: Hilton & Hyland
Haute Residence: How did the real estate market look in the beginning of 2020?
Jeff Hyland: To start the year, we could have never guessed that 2020 would take us on such a roller coaster ride. With that being said, luxury real estate has remained strong and stable throughout a plethora of uncertainties. At the beginning of the year we all had high hopes and expectations for what the markets could prescribe, and to be frank, I could not be more confident in the security of real estate investing.
67 Beverly Park, Beverly Hills
Photo Credit: Hilton & Hyland
HR: What, if any, changes did the pandemic have on prices? On inventory?
JH: One large and looming question we all faced in March was if there would be any changes to our market. In these eight months we have all been fighting the pandemic, we haven’t seen any dramatic changes to prices or available inventory. In fact, we are seeing record sale figures while inventory continues to remain low. If there has been any change, we are seeing both buyers and sellers become more motivated to close on the right offers.
67 Beverly Park, Beverly Hills
Photo Credit: Hilton & Hyland
HR: As 2020 is coming to an end, what it your outlook into 2021?
JH: 2020, although turbulent, experienced a great number of triumphs in the real estate market. Hilton & Hyland was not only able to meet the expectations we set for ourselves to start the year, we continue to exceed them with flying colors. If our collective strength and perseverance successfully navigated us through choppy waters thus far, 2021 should be a stroll in the park. With big projects in the works and a roster of the best agents in Southern California, Hilton & Hyland is poised for an immense year.
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