$10,000 Closing Credit*
$1,175,000
Jorge Sanchez, Listing Office: Nest Real Estate
Is Gramercy Park, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Gramercy Park has remained a Seller's Market.
Key Takeaway
Gramercy Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gramercy Park, CA
How much do homes in Gramercy Park, CA cost?
Median Sold Price
$756,000
$560/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$34,500(+4.8%)
Key Takeaway
Homes in Gramercy Park have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Gramercy Park was $756,000 in October 2024, up 4.8% from last year, and the median price per square foot was $560.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $360K | - | N/A |
| 2 Bedrooms | $660K | $651.5K | -1.3% |
| 3 Bedrooms | $725K | $786K | +8.4% |
| 4 Bedrooms | $825K | $780K | -5.5% |
| 5+ Bedrooms | $817K | $874.5K | +7.0% |
Summary: Gramercy Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 8.4%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 7%.
Median Sold Price Compared To Nearby Neighborhoods
| South LA | $667.5K | $708.1K | +6.1% |
| Gramercy Park | $721.5K | $756K | +4.8% |
| Westmont | $682.5K | $712.5K | +4.4% |
| Manchester Square | $749K | $760K | +1.5% |
Housing Supply in Gramercy Park, CA
How many homes are available in Gramercy Park, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 26 | +36.8% |
Summary: The Gramercy Park real estate market had 26 homes for sale in October 2024, a 36.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 10 | 17 | +70.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Gramercy Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 70%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 9 | +800.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gramercy Park, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Gramercy Park in October 2024, up by 800.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for Gramercy Park, CA
How long does it take to sell a home in Gramercy Park, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 31 Days | +57.5% |
Summary: Homes in Gramercy Park had an average of 31 days on market in Oct 2024, up by 57.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Gramercy Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Gramercy Park; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.