📈 January Market Update 📈
The pace of calls & showings picked up markedly in December driven mortgage rates (6.15% from a 6.7% average for much of 2025 on the 30-year fixed) and pent-up demand. The first rate cut in September was significant in reestablishing a gentle downward trend and brought affordability gains buyers had not seen in years. Single family homes traded and the market, at the moment, is softer for leases, condos and income properties.
Takeaway: rates are easing but slowly. Expect modest declines ahead.
At the high end, the stock market performance was the large driver coupled with price appreciation to offset the additional transfer taxed imposed via Measure ULA which took effect April 1, 2023 & significantly curbed sales over $5MM for over a year and a half. By 2025 the market rebounded and the Hancock Park area recorded 26 sales, 3 over $10MM and one pending with a $13.3MM asking price. Most sales were “move in ready” estates.
Stamina and Persistence are required to stay focused, to find a meeting of the minds between parties and close escrow. Nuanced neighborhood knowledge is priceless to proper pricing and presentation for a successful sale.
💡 Highlights from December:
✨ 18 homes sold locally
✨ 6 sales over $3M
✨ 4 sales over $5M
✨ Top sale: Ike Isenhour meticulously designed 172 S McCadden sold for $8.995MM in just 24 days! Prior to renovation the last sale was in 2020 for $3.845MM
What this means for you:
👉 Buyers: Lower rates + unique inventory = opportunity.
👉 Sellers sales: Thoughtful pricing + property preparation = faster sale at a stronger price.
At Loveland Carr Group, we know every street, every nuance, and every lifestyle choice that makes this market unique.
Let’s talk about how best to prepare for your next move.
DM us to get started!