Is Hancock Park, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hancock Park is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Hancock Park has remained a Seller's Market.

Key Takeaway

Hancock Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Hancock Park, CA

How much do homes in Hancock Park, CA cost?

Median Sold Price

$1,775,000

$782/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$225,000(+14.5%)

Key Takeaway

Homes in Hancock Park have sold for 14.5% more than they did a year ago.

Summary: The median home sold price in Hancock Park was $1,775,000 in November 2024, up 14.5% from last year, and the median price per square foot was $782.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $527K$687K
+30.4%
2 $939.5K$935K
-0.5%
3 $1.6M$1.6M
+4.5%
4 $3.2M$2.6M
-20.0%
5+ $5.1M$3.1M
-37.6%

Summary: Hancock Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.4%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 37.6%.

Median Sold Price Compared To Nearby Neighborhoods

Hancock Park
+14.5%
Mid-Wilshire
+10.9%
Windsor Square
-7.1%

Housing Supply in Hancock Park, CA

How many homes are available in Hancock Park, CA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3740+8.1%

Summary: The Hancock Park real estate market had 40 homes for sale in November 2024, a 8.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 25
+150.0%
2 54
-20.0%
3 56
+20.0%
4 78
+14.3%
5+ 1817
-5.6%

Summary: The Hancock Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 5.6%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
48+100.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hancock Park, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Hancock Park in November 2024, up by 100.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.

Days on Market for Hancock Park, CA

How long does it take to sell a home in Hancock Park, CA?

Average Sale Time

Nov 2023Nov 2024CHANGE
42 Days23 Days-44.8%

Summary: Homes in Hancock Park had an average of 23 days on market in Nov 2024, down by 44.8% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hancock Park are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 8 homes were sold in Hancock Park; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Hancock Park, CA

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