$1,890,000
0.15 Acres
Land
Neema Ahadian, Listing Office: Marcus & Millichap
Is Hancock Park, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Hancock Park was a Neutral Market.
Key Takeaway
Hancock Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Hancock Park, CA
How much do homes in Hancock Park, CA cost?
Median Sold Price
$1,687,500
$782/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$137,500(+8.9%)
Key Takeaway
Homes in Hancock Park have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Hancock Park was $1,687,500 in October 2024, up 8.9% from last year, and the median price per square foot was $782.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $528.5K | $592.5K | +12.1% |
| 2 Bedrooms | $939.5K | $965K | +2.7% |
| 3 Bedrooms | $1.5M | $1.6M | +4.9% |
| 4 Bedrooms | $3.5M | $2.6M | -26.8% |
| 5+ Bedrooms | $5.9M | $3.1M | -46.8% |
Summary: Hancock Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.1%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 4.9%, 4 bedroom homes decreased by 26.8%, and 5+ bedroom homes decreased by 46.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Mid-Wilshire | $1.4M | $1.6M | +10.2% |
| Hancock Park | $1.5M | $1.6M | +8.9% |
| Larchmont Heights | $2.0M | $1.9M | -1.3% |
| Larchmont | $1.7M | $1.4M | -16.1% |
Housing Supply in Hancock Park, CA
How many homes are available in Hancock Park, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 38 | 41 | +7.9% |
Summary: The Hancock Park real estate market had 41 homes for sale in October 2024, a 7.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Hancock Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hancock Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Hancock Park in October 2024, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 56 Days | +85.9% |
Summary: Homes in Hancock Park had an average of 56 days on market in Oct 2024, up by 85.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Hancock Park has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Hancock Park; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% 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.