January Market Update: Hancock Park, Windsor Square, Fremont Place & Larchmont Village
January’s most notable sale was the closing of 526 South Rimpau Boulevard at $9,000,000, a rare offering in historic Hancock Park. Set on nearly half an acre, this beautifully preserved Spanish Colonial estate blends architectural heritage with a prime location just blocks from the shops and restaurants of Larchmont Village.
The grand, 6,600-square-foot residence—over 100 years old—has a storied past. It was owned in the 2000s by John Frusciante, longtime guitarist of the “Red Hot Chili Peppers”, and served as the Colombian Consulate. In 2001, the seller purchased the property for $3.1M from designer Xorin Balbes, known for entertaining on a grand scale.
Initially listed at $9.995M approximately a year ago, the home ultimately sold for $9M in January, standing out in a month characterized by limited higher-end inventory.
Market Overview
Most January home sales closed below $2.4M, underscoring the shortage of luxury listings. Encouragingly, more than half of all homes sold within 30 days, reflecting strong demand for well-located and well-presented properties. Since these closings, activity has increased, supported by lower interest rates and a relatively strong stock market.
Hancock Park, Windsor Square, and the Larchmont Village area remain highly desirable among local buyers as well as those relocating from West LA, Pacific Palisades, New York City and beyond. Inventory is beginning to build, but the best homes continue to sell quickly.
Additional January Activity
- Leases: 38 total | Average rent $3,950 | Highest $10,500
- Condos: 7 sales ranging from $517,700 to $920,000
- Income Properties (≤4 units): 3 sales between $1.7M and $2.9M
The Federal Reserve held rates steady last week, and agents, buyers, and sellers are fully back from the holiday season. With a new year underway and sunny winter weather, Los Angeles living continues to shine.
Visit our blog for the Wall Street Journal Mansion Global feature and additional photos of 526 S. Rimpau Blvd.