Los Angeles Market Update | Q1 2014

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SINGLE FAMILY HOME SALES

HANCOCK PARK

Hancock Park is a historic neighborhood in Los Angeles, which was developed in the 1920s by the Hancock family with profits earned from oil drilling. The residential community is centrally located in the city and is bound by Wilshire Boulevard, Melrose Avenue, Higland Avenue and Rossmore Avenue. Unusual for most LA neighborhoods, residences in Hancock Park tend to be set back from the street, most power and telephone lines are buried, and fences are a rarity. It is located near both the Wilshire Country Club and the Los Angeles Tennis Club. Hancock Park continues to be one of the most desirable areas in all of Southern California to live. CLICK HERE TO VIEW HOMES WE HAVE AVAILABLE IN THIS AREA

SINGLE FAMILY HOMES (SFH) JAN - MAR 2014 AVERAGE LIST PRICE AVERAGE LIST PRICE PER SQUARE FOOT AVERAGE SOLD PRICE

ALL

< $1M

$1M - $3M

> $3M

$1,900,778

$815,833

$1,782,248

$4,492,111

$613.57

$404.42

$609.73

$763.40

$1,870,852

$808,731

$1,776,269

$4,331,389 $736.09

$604.01

$400.90

$608.30

TOTAL SFH SOLD

59

18

32

9

TOTAL SFH FOR SALE AT END OF PERIOD

69

16

40

13

AVERAGE SOLD PRICE PER SQUARE FOOT

AVERAGE MONTHLY SUPPLY OF INVENTORY AVERAGE SOLD PRICE/ORIGINAL LIST PRICE RATIO

3.5

2.7

3.8

4.3

98%

99%

100%

96%

ALL

< $1M

$1M - $3M

> $3M

$1,024,401

$704,412

$1,343,445

$3,749,500

SFH JAN - MAR 2013 AVERAGE LIST PRICE AVERAGE LIST PRICE PER SQUARE FOOT AVERAGE SOLD PRICE

$442.08

$366.74

$498.27

$670.51

$1,014,439

$701,071

$1,317,000

$3,737,500

$490.24

$668.37

$438.47

$365.00

TOTAL SFH SOLD

41

28

11

2

TOTAL SFH FOR SALE AT END OF PERIOD

53

10

29

14

AVERAGE SOLD PRICE PER SQUARE FOOT

AVERAGE MONTHLY SUPPLY OF INVENTORY AVERAGE SOLD PRICE/ORIGINAL LIST PRICE RATIO

3.9

1.1

7.9

21.0

99%

100%

98%

100%

ALL

< $1M

$1M - $3M

> $3M 20%

SFH MAR/MAR COMPARISON AVERAGE LIST PRICE

86%

16%

33%

AVERAGE LIST PRICE PER SQUARE FOOT

39%

10%

22%

14%

AVERAGE SOLD PRICE

84%

15%

35%

16%

AVERAGE SOLD PRICE PER SQUARE FOOT

38%

10%

24%

10%

TOTAL SFH SOLD

44%

-36%

191%

350%

TOTAL SFH FOR SALE AT END OF PERIOD

30%

60%

38%

-7%

AVERAGE MONTHLY SUPPLY OF INVENTORY

-10%

149%

-53%

-79%

-1%

0%

2%

-3%

AVERAGE SOLD PRICE/ORIGINAL LIST PRICE RATIO

(Source: MLS/CLAW)

BEVERLY HILLS | BRENTWOOD | LOS FELIZ | MALIBU | PACIFIC PALISADES SANTA MONICA | SUNSET STRIP | sothebyshomes.com/losangeles

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