September reflected the summer slowdown, with the highest sale in Brookside just under $3.5MM and no sales above $5MM. Active inventory is rising as we head into year-end, while pending sales remain strong. The $3-6MM price point still a lot good inventory to meet Buyer demand.
Mortgage rates climbed above 7% for the first time in nearly two years. While Hancock Park is generally less rate-sensitive, higher borrowing costs and employment uncertainty can influence buyer psychology.
In short, demand remains, but pricing and positioning are key. Every property and price point has its own nuances. Reach out to discuss your situation and how best to position yourself for success.