Market Statistics
Q3 2023 Hancock Park Market Update
Labor agreements were reached so it’s back to business Los Angeles! Baby Boomers continue to shape culture and commerce. Properties suitable for their life stage (smaller homes, single level condos, pieds-a-terre) are selling most quickl...
LA’s Luxury Market Update
Change is constant and it appears as though change will continue to move at an exponential rate henceforth. And yet, Real Estate is still the best hedge against inflation. The stock market, crypto currency, regional banks, commodity prices,...
Measure ULA Tax Update
LA voters passed Measure ULA (only 512k to 374k votes) in November 2022 which imposed a new “Homelessness and Housing Solutions” transfer tax on all real estate sales transactions in the city over $5 million. Though it is commonly referre...
Q2 2023 Hancock Park Market Update
Even with a writer’s strike many offers were written in Hancock Park as the imbalance of supply relative to demand and demographic trends are keeping our market dynamic and strong. Multiple offers continue for the most prized locations and ma...
A Decade of Undersupply Forecasted
According to Realtor.com economist Danielle Hale, housing affordability is not expected to improve for prospective home buyers in the near future. This is primarily due to the high cost of borrowing and a lack of available homes on the market. ...
June 2023 Market Update for Hancock Park
Even with a Writer’s Strike many offers were (and are being) written in Hancock Park. Multiple offers continue for the most prized locations and many are still offering cash. For the month of May there were 9 sales down from 18 in M...
Q1 2023 Hancock Park Real Estate Round Up
Spring has sprung and the sun is shining upon Hancock Park. Over the last three months the market (and real estate professionals) showed resilience despite constant rainfall, volatility in the banking sector, another interest rate hike, major t...
Fed Raises Rates 25 basis points & what it means for you
All eyes were on the Fed today and rates increased 25 basis points. Real estate continues to be a great hedge against inflation which is why we continue to see multiple offers on well-located, well-priced properties. We see many cash buyers s...
Q4 2022 Market Update in Hancock Park
Dare we say the market is ‘normalizing’? Q4 2022 was a time for social re-engagement after nearly 3 years. Our local Larchmont Family Fair was well attended as were many joyful holiday parties. What a great community we call home! The...
What does a Shifting Real Estate Market mean to You?
Chief Economist Jordan Levine from the California Association of Realtors offered the following real estate insights on Nov 18th. We have summarized it for you and added our local market commentary. Expect •Sales volume to contract more t...
California Real Estate Market Update & Forecast
The California Association of Realtors releases its 2023 housing market forecast. Each neighborhood has its nuances but overall, the market is 'normalizing' after a fierce last 2 years. The Hancock Park real estate market continues to be act...
Q3 2022 Luxury Market across LA (Hancock Park to Malibu)
The $5+ million luxury segment of the real estate market from Hancock Park to Malibu is down slightly year to date as of the end of August 2022. 765 closed sales of $5+ million this year, versus 784 at this time last year. (-2.5%)....
Q3 2022 Market Update in Hancock Park
Summer vacations were clearly top priority in Q3 2022! Agents, sellers and buyers finally took a breath in June and July, regained perspective and by August the pace of sales picked up before the September rate hike. The Federal Reserve’s mov...
Q2 2022 Market Update in Hancock Park
This shift began in Q2 as the Fed acted aggressively to ease inflation by raising the fed funds rate which resulted in mortgage interest rate hikes and volatility. As Q1 began, rates* were 3.2%, then inched up to 4.72% at beginning of Q2 to a...
Q4 2021 Market Update in Hancock Park
Q4 2021 Hancock Park Real Estate Market Round Up 2021 was a remarkable year for real estate citywide AND in Hancock Park. Record prices were set in our neighborhood and the $20MM threshold was just surpassed with the sale of 355 S Muirfield Rd...
Q3 2021 HANCOCK PARK REAL ESTATE MARKET ROUND UP
Larchmont Village turned 100 and the centennial was celebrated with CAKE! The October edition of the Chronicle delivered a great spread spanning the decades. Neighbors pulled together to refresh and re-launch the beloved Center for Yoga. Great ...
Q2 2021 HANCOCK PARK REAL ESTATE MARKET ROUND UP
Buyers and renters are out in full force and getting back to work! Q1 outpaced the last 10 years and Q2 2021 was even stronger! All data looks great versus Q2 ’20 because the city was in lockdown. The market momentum from the last two quar...
Real Estate Sales Over $5MM Market Update
New records abound across Los Angeles for Estates! Year to date that have been 321 closed sales over $5+million versus 172 at this time last year. Up an amazing 87%. The buyers were mostly American (75% of purchases)....