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Hancock Park Homes Los Angeles Market Recap

By
Real Estate Agent with Keller Williams Realty 01703532

Hancock Park Homes Market Update looking back at 2011

 

There were 223 Hancock Park homes sold in 2011 in a wide price range from the low $200,000's all the way to over $6 million.

 

  • 124 homes were sold under $1 million
  • 68 homes were sold between $1 million and $2 million
  • and 31 homes were sold above the $2 million mark

 

Digging deeper we discover that 30 of these homes were either Short Sales or Foreclosures or REO's

  • 6 homes sold in the range up to $200 per sq/ft
  • 20 homes sold between $200 and $400 per sq/ft
  • and 4 homes sold above $400 per sq/ft

 

Compare those figures to the "standard" sales:

  • 5 homes sold in the range up to $200 per sq/ft
  • 59 homes sold between $200 and $400 per sq/ft
  • and 129 homes sold above $400 per sq/ft

 

The lowest and the highest

The least expensive home sold on Clinton Street: just over 800 sq/ft it sold at $244,000 at $288 per sq/ft

The most expensive home sold on Hudson: just over 8000 sq/ft it sold over $6m at 744 per sq/ft

 

Hancock Park is an affluent, historic neighborhood developed in the 1920s, by the Hancock family, with profits earned from oil drilling in the former Rancho La Brea and developed in the 1920′s.  The neighborhood is bounded by Melrose Avenue on the north and Wilshire Blvd., on the south.  Then from Highland Avenue on the west all the way over to Rossmore Avenue on the east.  The surrounding neighborhoods of Larchmont Village and Windsor Square will also refer to themselves as in Hancock Park, even though they lie outside the boundaries.

Hancock Park homes have long been sought after by many who work within Hollywood, most probably due to its close proximity to a handful of major television and film studios, notably Paramount Pictures.  Hancock Park is also a desirable location for those that must commute downtown or to other main areas in Los Angeles County.

 

Would you consider living in Hancock Park?

 

If I can be of any assistance to you in buying or selling your home, please contact me.

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