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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 May ‘22. The average time on market was the same at 22 days and average price per square foot was up +4%.

The highest sale was 121 S. Rossmore Ave @ $6,786,400. It was the only sale for the month in the Hancock Park HPOZ. There were 3 sales in Windsor Square, 3 sales in Larchmont Village, and 1 Hancock Park adjacent on Mansfield. Only 3 of the 9 sales were over $3 million largely due to lack of inventory.

Currently, there is less than 2 months of inventory available in the neighborhood. Demand continues to be strongest for properties under $6MM in A+ locations and in pristine condition.

It’s still an opportune time to buy or sell, depending on one’s circumstances. Reach out if you would like to discuss your next move!

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