The Real Deal Los Angeles

Submarket Snapshot: Hancock Park’s single-family homes

Less homes sold in the fourth quarter, but they sold for slightly higher prices
By Hannah Miet | February 25, 2016 05:28PM

445 Corraine Boulevard

The property at 445 Corraine Boulevard in Hancock Park (credit: Altman Brothers)

The number of single-family residences sold in Hancock Park decreased in the fourth quarter of 2015, when compared to the same period in the previous year.

There were 48 sales in the fourth quarter in the historic and wealthy Central L.A. neighborhood, down almost 6 percent from the same quarter a year earlier, according to a report by the Agency.

The median sale price was $1.7 million, up 6.8 percent from the fourth quarter of 2014. The average sale price increased by slightly less than 1 percent to $2.3 million. The average per-square-foot price increased by 4.4 percent to $724.

Properties sat on the market in the fourth quarter for an average of 74 days, down slightly from the 76 days they were on the market in the fourth quarter of 2014.