As 2024 comes to a close, we’re breaking tradition with a fresh look at the local Hancock Park market, aiming to cut through the noise that often surrounds it. Hancock Park real estate prices have shown resilience amid rising interest rates, supported by limited housing supply, favorable demographic trends, and a strong sense of community. Our neighborhood remains a vibrant haven of beauty, heritage and civic involvement that enriches our lives.
In the high-end market (over $5 million), sales have rebounded post-Measure ULA. This year saw 13 sales in this range, with 9 occurring in the second half alone. The highest sale reached $21 million on Hudson. Homes that balance historic appeal with updated amenities have held their value best, reflecting Hancock Park’s unique allure. For sellers, this underscores the importance of proper preparation, presentation and patience. For buyers, there are opportunities to secure timeless properties that may, in the long run, become valuable investments in a neighborhood built to last. Our 100+ year-old area is full of nuance, and we’re here to deliver a customized evaluation tailored to your unique home and circumstances.
As practitioners, we stay current to provide the best possible service. This year, we completed extensive continuing education to meet licensing requirements and adapt to industry changes, including the NAR settlement that took effect in mid-August. This has re-affirmed the breadth, depth, and importance of the professional service we provide in infrequent and complex transactions. New contracts and procedures now offer increased transparency and flexibility, and we welcome your questions at any time.
Whether you’re planning your next move or just need a good serviceman for your jewel box, we’re here to help. We’ve supported many local clients and connected others to area specialists for second homes, as well as for family and loved ones. Enjoy being home this holiday season.
Wishing peace, joy, and goodwill to all!
