As kids headed back to school, the real estate market found its rhythm again. Energy and activity returned in September: phones are ringing, buyer showings are up, open house traffic is improving, and sales volume climbed. Momentum is clearly building.
On the mortgage front, rates had already begun adjusting downward in anticipation of the mid-September Federal Reserve cut of 25 basis points—bringing us back to October 2024 levels. With economists predicting two more cuts ahead, we may be entering a more favorable rate environment for buyers and sellers alike.
Hancock Park Market Highlights
September saw 13 home sales in our area, with strong activity at the luxury end:
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5 homes sold above $3M
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2 homes sold above $5M
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The standout? A record-setting $15.5MM sale of the historic 1929 Federal-style “Griffith Estate” at 100 S Hudson Place, sited on Wilshire Country Club. Originally listed at $16.995M, the property sold in just 48 days. Its last sale, 16 years ago at $6.01M, highlights both the significant improvements made by the seller and the strength of today’s luxury market.
Another noteworthy sale: 123 N Norton in Windsor Square, which finally closed at $5.295M after more than 529 days on the market. Originally priced at $5.875M, the sale underscores the importance of strategic pricing and persistence in a nuanced market like ours.
What This Means for You
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Buyers: With rates easing and inventory presenting unique opportunities, this may be a window to secure a home that fits your lifestyle—especially before additional rate cuts shift the competitive landscape.
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Sellers: Well-prepared homes priced strategically continue to command strong interest and, in many cases, quick sales. Loveland Carr Group’s deep local expertise helps position your property to attract the right buyers.
At Loveland Carr Group, we know every street, home and the nuance of this community. Our goal is to help you make the most thoughtful real estate decisions—whether you’re buying your first home, upgrading or considering a sale.