Main Content

🏡 May 2024 Luxury Real Estate Market Update & Trends for Hancock Park Wilshire 🌟

🏡 May 2024 Luxury Real Estate Market Update & Trends for Hancock Park Wilshire 🌟

By Christophe Choo Posted Jun 26, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Real Estate Articles, Videos

🏡 May 2024 Luxury Real Estate Market Update & Trends for Hancock Park Wilshire 🌟

🔼 Avg Sales Price: $2.53 million, 📈 UP 4%

🔻 Avg List Price $3.80 million, 📉 down 8%

🔻 Properties Sold: 33, 📉 down 33%

🔻 Days on Market: 17 📆, 📉 down 63%

🔻 $/Sq FT: $852, 📉 down 4%

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!

#hancockpark #wilshire #sellingla #realestate #marketsnapshot #luxuryrealestate #realestateupdate #hancockparkhousingmarket #la #hancockparkhomeprices #realtor #realestate #homes #homesforsale #homeprices #sellingahome #buyingahome #toprealtor #bestagent


Welcome to the latest update on the luxury real estate market in the Hancock Park and Wilshire areas of Los Angeles! This charming neighborhood, where I first started my real estate career 33 years ago, is renowned for its historic homes, beautiful architecture, and broad tree-lined streets, some of which offer views of the iconic Hollywood sign. Nestled between downtown Los Angeles and Beverly Hills, Hancock Park provides a suburban feel right in the heart of the city, exuding classic elegance with a unique East Coast charm.

Current Market Snapshot

Let's dive into the numbers for May 2024:

  • Average Sales Price: $2.53 million, up by 4% compared to the previous 90 days.
  • Average List Price: $3.80 million, down by 8%.
  • Properties Sold: 33, a decrease of 33%.
  • Days on Market: 17 days, significantly reduced by 63%.
  • Price Per Square Foot: $852, down by 4%.

What This Means for Buyers and Sellers

The current market dynamics in Hancock Park highlight a robust yet competitive environment. The increase in average sales price suggests that the value of homes in this area continues to rise, making it an attractive option for both investors and homeowners. On the flip side, the decrease in the average list price indicates that sellers are becoming more realistic and competitive in their pricing strategies to attract buyers quickly.

The notable decrease in days on the market, now averaging just 17 days, underscores the high demand and fast-paced nature of the Hancock Park real estate market. Homes here are selling faster than ever, which is great news for sellers looking to close deals quickly.

Why Hancock Park?

Hancock Park offers a unique blend of suburban tranquility and urban convenience. Its historic homes and classic architectural styles provide a picturesque setting that appeals to those who appreciate timeless elegance. The neighborhood's proximity to both downtown Los Angeles and Beverly Hills makes it a prime location for professionals seeking a short commute while enjoying a more relaxed, residential atmosphere.

The area is also home to Larchmont Village, a charming hub of shops, cafes, and restaurants that enhances the community feel and provides residents with convenient amenities. For those looking for a diverse real estate portfolio, Hancock Park boasts not only grand single-family homes but also a variety of condos that cater to different lifestyle needs.

The Appeal of Hancock Park Real Estate

Hancock Park's affordability, relative to other luxury areas in Los Angeles, is another attractive feature. With a price per square foot at $852, it offers one of the most reasonable rates in the city, making it an excellent choice for buyers seeking value without compromising on quality or location.

Whether you're a first-time homebuyer, looking to upgrade, or an investor seeking lucrative opportunities, Hancock Park has something to offer. Its unique combination of historic charm, strategic location, and vibrant community make it a standout choice in the Los Angeles real estate market.

Unlocking the Potential in Your Property

If you're a homeowner in Hancock Park, now might be the perfect time to explore the hidden wealth in your property. The current market conditions are favorable, and with the right strategy, you can maximize your investment. For potential buyers, the competitive pricing and rapid sales pace indicate that acting swiftly and decisively could help you secure your dream home in this coveted neighborhood.


The Hancock Park real estate market in May 2024 is characterized by rising sales prices, competitive listing prices, and a fast-moving market. This historic and elegant neighborhood continues to attract buyers with its unique blend of suburban charm and urban convenience. For those interested in exploring real estate opportunities in Hancock Park or Beverly Hills, feel free to reach out for expert insights and personalized guidance.

Skip to content