🏡 June 2024 Luxury Real Estate Market Update & Trends for Hancock Park Wilshire 🌟
🏡 June 2024 Luxury Real Estate Market Update & Trends for Hancock Park Wilshire 🌟
🔼 Avg Sales Price: $2.82 million, 📈 UP 13%
🔻 Avg List Price $3.67 million, 📉 down 6%
🔼 Properties Sold: 14, 📈 UP 2%
🔻 Days on Market: 21 📆, 📉 down 36%
🔼 $/Sq FT: $992, 📈 UP 13%
Unlock the hidden wealth in your Hancock Park property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Hancock Park? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!
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The Hancock Park-Wilshire area of Los Angeles, where I first began my real estate career 33 years ago, remains one of the most enchanting neighborhoods in the city. Known for its historic homes and broad tree-lined streets, Hancock Park offers a unique suburban feel right in the heart of LA. The classical elegance of the area, combined with an East Coast atmosphere, makes it a truly distinctive place to live.
In June 2024, the real estate market in Hancock Park showed some interesting trends. The average sales price reached $2.82 million, marking a 13% increase. Despite the rise in sales prices, the average list price saw a slight dip of 6%, bringing it to $3.67 million. This indicates that while homes are selling for more, sellers are listing them at slightly lower prices, possibly to attract more buyers.
The number of properties sold in June was 14, showing a modest 2% increase. This suggests a stable market with consistent buyer interest. One of the most notable trends is the significant decrease in the average days on the market, now standing at 21 days, down by 36%. This fast-paced market means homes in Hancock Park are selling quickly, reflecting high demand.
Another key highlight is the price per square foot, which stands at $992. This is one of the most reasonable prices in the city and represents a 13% increase from the previous 90 days. It indicates that while overall home prices are high, the cost per square foot remains relatively affordable compared to other upscale neighborhoods.
Hancock Park is an excellent opportunity for those seeking a suburban lifestyle with a quiet environment while still being centrally located. Its classical charm and East Coast vibe make it a desirable area for many homebuyers. Whether you're looking to buy or sell in Hancock Park, understanding these market trends can help you make informed decisions.
Unlock the hidden wealth in your Hancock Park property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Hancock Park? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!