February was the wettest month since 1998 with over 12” of rain, the 7th wettest month overall in the LA’s 150 year recorded history, according to the NY Times. This did not deter buyers!
Sales, as demonstrated by the number of pendi...
Measure ULA certainly influenced sales volume of properties over $5 million in the city of Los Angeles since it took effect April 1, 2023. Looking at closed sales in January 2023 relative to the prior year is a bit distorted because there w...
Buyer confidence picked up in December which is reflected in January sales.
Nearly twice as many homes sold in Jan ’24 vs Jan ’23 (13 vs 7), 5 of which were over $3MM. If priced properly to start, they sold quickly. Buyer’s confide...
The ground is beginning to shift in the luxury real estate landscape in 2024 here in Hancock Park and across key markets of the US. Keep an eye on interest rates as they will be the first barometer of what lies ahead for the market. At this...
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,...
What Might We Expect in 2024?
Join us for The State of the Economy with internationally acclaimed economist Elliot Eisenberg, PhD compliments of Coldwell Banker.
Tuesday, January 30th at 11am or 4m PDT
Any economist who can write a 70 ...
December 2023 Hancock Park Update
Happy New Year to all! The best holiday gift for the real estate market was the Fed's announcement to hold rates in December and to expect 3 cuts in 2024. Sentiment soared & the stock market hit new hi...
November 2023 Hancock Park Update
SAG-AFTRA strike is over and Larchmont Village finally has a little market again with Cookbook in the former Chan Dara space. La Bettola di Terroni is in the full swing of things offering its patrons a f...
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...
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,...
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...
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...
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. ...
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...
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...
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...
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...
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...
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...
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%)....